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The Global Daily Dose will not publish Monday, Dec. 26, or Tuesday, Dec. 27. Your next issue will be Wednesday, Dec. 28.
TOP NEWS IN GLOBAL FINANCIALS
* Turkey's sovereign wealth fund will make a capital injection of 20 billion lira each in state banks Türkiye Cumhuriyeti Ziraat Bankasi AS, Türkiye Vakiflar Bankasi Türk Anonim Ortakligi and Türkiye Halk Bankasi AS as the government accelerates efforts to fire up the economy through cheap loans ahead of the 2023 elections, Bloomberg News wrote, citing state-run Anadolu Agency. President Recep Tayyip Erdoğan has said the new government-backed loan package will amount to $11 billion.
* Futu Holdings Ltd. announced the proposed dual primary listing of its class A shares on the Hong Kong stock exchange after obtaining in-principle approval from the bourse, with the company's American depositary shares remaining primarily listed and traded on the Nasdaq Global Market. The online brokerage and wealth management platform operator's shares are expected to start trading Dec. 30 in Hong Kong.
➤ Big bank deposit price guidance deteriorates as Fed ratchets rates higher
The rate environment entering 2023 is radically different from a year ago, and projections from a number of big U.S. banks indicate that betas will be higher this time than they were in the last cycle.
➤ Chinese banks drive November spike in debt issuance in Asia-Pacific
The November aggregate was driven by a multibillion-dollar local-currency-denominated amount of nonconvertible bonds issued by four Chinese...