Signs reading “I'm buying dollars” line the doors of Víctor Vargas’ shoe shop in the heart of Bolivia’s biggest city, a desperate attempt to keep his family business alive. Just a few years ago, the 45-year-old Vargas would unlock the doors at 8 a.m. to a crush of customers already waiting to buy tennis shoes imported from China. Bolivians like Vargas have been hit hard by economic turmoil in the small South American nation fueled by a longtime hyper-dependence on, and now shortage of, U.S. dollars.
(Bloomberg) -- The growing specter of a Trump presidential victory is making curve steepeners an attractive bet as growth will likely slow and inflation quicken under such a scenario, according to Morgan Stanley.Most Read from BloombergJustice Department to Charge Boeing, Seeks Guilty Plea from PlanemakerLe Pen’s Far Right Wins First Round, Chases French MajorityTrump as President or Private Citizen: Why Supreme Court’s Immunity Ruling Is a TestBiden Asks Donors to Stay Following Disastrous Deba
Oil prices climbed on Monday, supported by forecasts of a supply deficit stemming from peak summer fuel consumption and OPEC+ cuts in the third quarter, although global economic headwinds and rising non-OPEC+ output capped gains. Brent crude futures rose 33 cents, or 0.4%, to $85.33 a barrel by 0439 GMT, while U.S. West Texas Intermediate crude futures were at $81.86 a barrel, up 32 cents, or 0.4%. Both contracts gained around 6% in June, with Brent has settling above $85 a barrel in the past two weeks, after the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, extended most of its deep oil output cuts well into 2025.