Cracks in the US Treasury bond market
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 21 November 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
A report finds that large asset managers are invested in companies allegedly linked to the repression of Uyghur Muslims, and Lebanese households and businesses are installing renewables to bypass the country’s power crisis. Plus, the FT’s Kate Duguid explains why we’re starting to see cracks in the US Treasury bond market and whether there is cause for concern.
Mentioned in this podcast:
MSCI investors at risk of exposure to Xinjiang allegations, report says
Lebanon’s failing state forces unplanned shift to solar power
The cracks in the US Treasury bond market
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk. |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.3 | Today is Monday, November 21st, and this is your FT News Briefing. |
| 0:18.8 | Lebanon's economic and political crises are fueling a solar energy boom, |
| 0:23.4 | plus our US capital markets correspondent is hearing creeks in the US treasury market. |
| 0:28.9 | But first, a new report links top global investment funds |
| 0:32.4 | with China's repression of weaker Muslims. |
| 0:36.3 | I'm Mark Philippineau, and here's the news you need to start your day. |
| 0:48.0 | The world's top global investment funds are passively exposed to Chinese companies |
| 0:52.5 | that are allegedly involved in the repression of China's weaker Muslim minority. |
| 0:56.8 | That's according to a new report from two UK-based research groups. |
| 1:00.7 | The report identifies three MSCI stock indices. |
| 1:04.5 | They include more than a dozen companies that allegedly profited from |
| 1:08.1 | constructing internment camps and video surveillance equipment, |
| 1:11.7 | or they allegedly use weaker workers obtained through a kind of forced labor system. |
| 1:17.2 | So funds that invest in the MSCI indices like giant asset manager BlackRock and Japan's |
| 1:22.5 | government pension fund are exposed to these companies that are allegedly linked to weaker repression. |
| 1:33.4 | Lebanon has been in a financial and economic crisis even before COVID. |
| 1:37.9 | In 2019, the country's currency collapsed, and the war in Ukraine has made fuel imports even |
| 1:43.1 | more expensive, all of which made Lebanon's state-run power company even less reliable than it |
| 1:49.2 | already was. But the crisis has been a boon for solar energy. |
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