{"id":553647,"date":"2022-10-31T03:45:36","date_gmt":"2022-10-31T03:45:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/31\/more-on-fed-week-efg-hermes-lands-bookrunner-job-on-riyadh-cables\/"},"modified":"2022-10-31T03:45:36","modified_gmt":"2022-10-31T03:45:36","slug":"more-on-fed-week-efg-hermes-lands-bookrunner-job-on-riyadh-cables","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/31\/more-on-fed-week-efg-hermes-lands-bookrunner-job-on-riyadh-cables\/","title":{"rendered":"More on Fed week + EFG Hermes lands bookrunner job on Riyadh Cables"},"content":{"rendered":"

<\/a> The Fed will likely go for another aggressive hike this week \u2014 but what if <\/strong>consumer spending proves too resilient? <\/strong>Economists are penciling in another jumbo 75-bps hike from the US central bank when it meets on Tuesday and Wednesday as it looks to tamp down on record high inflation. But pandemic-era stimulus measures have given businesses and households an unusually fat savings buffer, meaning higher rates may not deter them from spending as they head into tighter times, theWall Street Journal<\/a> reports. The Fed may have to raise rates higher and for longer in order to have the desired impact. \u201cFor now, the consumer is too strong for comfort,\u201d the managing director of one market intelligence firm told the WSJ.<\/p>\n

CLOSER TO HOME- <\/strong>IPO Watch:<\/strong> Our friends at EFG Hermes were appointed as bookrunner for Riyadh Cables Group Company\u2019s IPO on the Saudi stock exchange. The company wants to raise around USD 400 mn<\/a> by selling a 22% stake to investors. (Intent to float, pdf<\/a>)<\/p>\n

ALSO WORTH NOTING-<\/strong><\/p>\n