Global gloom.

The global economy may face a recession next year caused by an aggressive wave of policy tightening that could yet prove inadequate to temper inflation, the World Bank said in a new report. Policy makers around the world are rolling back monetary and fiscal support at a degree of synchronization not seen in half a century, the report said. The news comes as Federal Reserve officials prepare to meet next week, where they could find reasons for raising rates by a full percentage point. Most economists see a 75 basis points hike as a more likely outcome. After the Fed, Bank of Japan Governor Haruhiko Kuroda is expected to keep the central bank’s main policy levers unchanged.

Gary Gensler. Photo: Andrew Harrer | Bloomberg

SEC readies diversity guidance for asset managers, Gensler says

The Securities and Exchange Commission will soon release guidance to promote diversity among asset managers, the agency’s chair Gary Gensler told lawmakers Thursday. The guidance will focus on complaints and asset manager selection. (Bloomberg Law | Sep 15)

Hedge fund Treasuries tradIng faces tighter SEC clearing rules

The Securities and Exchange Commission voted unanimously Wednesday to proceed with a proposal that would giving clearinghouses – which sit between buyers and sellers and ultimately backstop the transactions – a much bigger footprint in the $24 trillion dollar market for US government bonds. (Bloomberg Wealth | Sep 14)

Dollar’s surge shrinks world debt pile for the first time since 2018

The global mountain of debt in US dollar terms shrunk for the first time since 2018 as the greenback surged and major central banks boosted borrowing costs, according to the Institute of International Finance. Total debt decreased by about $5.5 trillion to $300 trillion in the second quarter, IIF data showed. While most of that drop occurred in developed economies, the US and Canada ended up seeing an uptick in debt levels. The decline was more limited in emerging markets, where the ratio of debt to gross domestic product climbed. (Bloomberg Markets | Sep 14)

US 2- to 30-year curve reaches most inverted level this century

The premium of the two-year Treasury yield over the comparable 30-year benchmark increased to a level unseen this century after short-end rates extended their climb in the wake of this week’s hotter-than-anticipated US consumer-price inflation data. The two-year yield was as much as 35 basis points above the 30-year rate on Thursday, sending the inversion of the yield curve past the depths plumbed in August to levels last seen in 2000. (BNN Bloomberg - Canada | Sep 14)

Fed’s faster ‘quantitative tightening’ adds to strain on bond market

The Federal Reserve’s more rapid exit from crisis-era policies is set to place the $24tn US government bond market under extra strain, heightening concerns about the bedrock of the global financial system. The ease with which traders can get deals done in the Treasury market has declined to the lowest levels since the early days of the pandemic in March 2020, according to a Bloomberg index. Gaps between prices where traders buy and sell have yawned wider and huge moves in price, on a scale unthinkable even a year ago, have become commonplace. (Financial Times | Sep 14)

Photo: Hector Retamal | Agence France-Presse/Getty Images

Apple Zero Day

Mac and iPhone users are urged to update operating systems to address a zero-day bug that hackers may have already been exploiting, Apple said Monday. The patches fix other vulnerabilities as well. Details from Apple are here, including which devices are affected. 

— Bleeping Computer

U.S. broadens global efforts to pursue hackers

The U.S. and other countries are examining how cybersecurity rules can be more closely aligned. That would be especially helpful for multinational companies that likely will have to report cyberattacks to several national authorities that require similar information. Plus, the US has deepened international partnerships for fighting cybercrime, including deploying security experts to other countries on request, through US Cyber Command, to hunt for hackers.

— The Wall Street Journal

CISA sets broad goals to reach by 2025

The Cybersecurity and Infrastructure Security Agency plans to improve defense of the federal government and overall resilience of critical sectors over the next three years, according to a strategy document released Tuesday. The "CISA Strategic Plan 2023 - 2025" also calls for the agency, created in 2018 within the Department of Homeland Security, to improve collaboration and information sharing among government bodies and with the private sector.

— Cybersecurity and Infrastructure Security Agency

Photo: Aiony Haust | Unsplash

Information overload is making you stressed. Here’s how to deal with it

You can train yourself to change the way that your brain filters information. This requires us to apply both technological and cognitive filters. To do that, we need a criteria to assess what should pass through our filters and what we should ignore. Considering your purposes for engaging with information is a great starting point and provides valuable guidance.

— Fast Company

How to stay focused when everything feels stressful and overwhelming

In the past two years, we’ve seen more disruption than we typically see in decades. In the midst of a chaotic present and an uncertain future, how do you stay productive and focus on what you can do, instead of getting consumed thinking about situations largely outside of your control? If everything feels chaotic, you’re not alone. These five strategies can help, says this time management coach.

— Fast Company

Working from home around the world

The Covid-19 pandemic triggered a large and lasting shift to working from home among educated workers around the world, finds a new survey presented at a Brookings conference this month. “No other episode in modern history involves such a pronounced and widespread shift in working arrangements in such a compressed time frame,” according to the paper "Working from Home Around the World."

— Brookings