Yesterday, Federal Reserve minutes showed that the U.S. policymakers are now considering tapering faster, while raising interest rates sooner, if inflation continues at this rate. However, short-term yields increased after the FOMC said it maintained a 2.0% inflation target for the end of 2022. Investors also ignored weak manufacturing data in the US data in the US.
Vivo Energy has accepted a takeover offer from its largest shareholder, Vitol Group, and soared 20%. Another gainer is Hochschild Mining, which bounced back after the group reported on Monday the risk that Peru may close two of its three operating gold and silver mines. However, on Wednesday, the Peruvian government reaffirmed the continued rights of mining companies “to request extensions and modifications of existing permits for mining and exploration activities," Hochschild said today.
Things to read today:
Super-Apps Are Inevitable Get ready for the first $10 trillion tech company (Intelligencer)
Good Luck Trying to Fix the Supply Chain Crisis (Wired)