FT News Briefing Political turmoil in Peru
Dec 8, 2022
The U.S. bond market indicates expectations that the Federal Reserve will maintain its inflation strategy. In Peru, a political crisis unfolds as the president is impeached after attempting to dissolve congress. Meanwhile, Germany faces tensions from a right-wing conspiracy aimed at government disruption. On a positive note, U.S. supply chains are improving, leading to lower inflation and shipping costs, benefiting retailers and consumers as the holiday season approaches.
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Yield Curve Inversion
- The U.S. yield curve is inverted, signaling a potential recession.
- Short-term bond yields are higher than long-term yields, indicating investor expectations of aggressive interest rate hikes.
Peruvian Political Turmoil
- Peru's Congress impeached President Castillo after he tried to dissolve parliament.
- Dina Boluarte, the former vice president, was sworn in, becoming Peru's first female president.
German Coup Attempt
- German police arrested 25 people allegedly plotting to overthrow the government.
- The group, linked to the Reichsbürger movement, planned to storm parliament and install a new government.