FT News Briefing Nato torn over Ukraine’s membership bid
Jul 11, 2023
Hedge funds are turning their backs on the US stock market, slashing bets to their lowest levels in a decade and shifting focus to Europe. In a significant regulatory move, a top US banking official has announced stricter capital rules for a broader range of lenders. Meanwhile, Dutch PM Mark Rutte is stepping away from politics following a coalition collapse. Amidst all this, NATO faces a tough decision regarding Ukraine's membership bid, with tensions rising as Erdoğan links Sweden's NATO aspirations to Turkey's EU accession.
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Hedge Funds Shift Focus
- Hedge funds are reducing their bets on a rising U.S. stock market, despite its strong performance this year.
- This is due to concerns about rising interest rates and a possible economic downturn, causing a shift towards European stocks.
Tougher Capital Rules for Banks
- U.S. banks with over $100 billion in assets may face stricter capital requirements.
- This follows the collapse of Silicon Valley Bank and other regional lenders, prompting a focus on fortifying the financial system.
Ukraine's NATO Membership
- Admitting Ukraine to NATO now would obligate the alliance to go to war with Russia.
- This is undesirable as the current priority is ensuring Ukraine's victory in the ongoing war.