FT News Briefing Friday, August 23
Aug 23, 2019
The yield on two-year Treasury bills has surpassed the benchmark 10-year notes, raising recession concerns. Tensions around Facebook's Libra project intensify as early backers face increased regulatory scrutiny. Brazil proposes an innovative approach to combat illegal logging by monetizing the Amazon rainforest. As the G7 summit approaches, geopolitical issues like U.S.-Iran relations and Brexit loom large, highlighting the struggles and divisions among Western democracies.
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Yield Curve Inversion
- The U.S. yield curve inverted for the third time this month, signaling a potential recession.
- This occurred as bond investors fear the Fed won't cut rates fast enough to protect the economy.
Libra Backers Spooked
- Facebook's Libra project faces regulatory scrutiny over privacy and antitrust concerns.
- This has caused some early backers to consider distancing themselves from the venture.
Monetizing the Amazon
- Brazil's environment minister suggests monetizing the Amazon rainforest to combat illegal logging.
- Critics argue this would worsen deforestation, which has accelerated under President Bolsonaro.