Arm shares jump 25% on first day of trading, ECB raises interest rates to all-time high. Podcast explores digital cash in culture wars, European Central Bank's challenges of high inflation and reduced growth forecasts, concerns about privacy and anonymity in central bank digital currencies.
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Quick takeaways
Shares in chip designer Arm jumped by 25% on its first day of trading, boosting confidence in the IPO market.
The European Central Bank raised interest rates to combat high inflation, but market reactions suggest investors believe rate increases may have reached their peak.
Deep dives
AUM's Successful IPO Signals Confidence in the Market
The British chip designer AUM experienced a successful initial public offering (IPO), with its shares jumping 25% on the first day, making it the largest U.S. listing in almost two years. This positive performance is expected to boost confidence in the IPO market overall, as upcoming listings for grocery delivery app Instacart and marketing software group Clavio are anticipated to test investor appetite.
ECB Faces Challenges Amidst Rising Inflation and Weakening Economy
The European Central Bank (ECB) raised interest rates by 25 basis points, signaling its intention to combat high inflation levels. However, the ECB is also confronted with a weakening economy, as reflected in reduced growth forecasts for the Eurozone. By continuing to raise rates, the ECB aims to achieve price stability, but market reactions, such as the Euro falling against the dollar, suggest that investors believe the ECB may have reached the peak of rate increases.
Shares in chip designer Arm jumped by 25 per cent as it began trading on the Nasdaq exchange yesterday, and the European Central Bank has raised interest rates to an all-time high. Plus, the FT’s Siddharth Venkataramakrishnan explains how digital cash got caught up in the culture wars.