Good morning Munchers - TGIF! 🙏

Home stretch of the week. Hope you have a lovely weekend and that the partying goes well. 🎈

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 5 minutes and 3 seconds.

Let’s dive in.

What’s hot, what’s not?

Market Commentary

• The ECB is looking very hawkish - they hiked rates and promised more to come.

• Eurozone sovereign bonds slid in price as yields lifted following this hawkish reiteration.

• Indian and American markets both ended in the green as fears about the economy slowly wash away. 🌊

Story Roundup

1 - ECB pushes rates higher to run inflation down. 🆙

The European Central bank has done it.

Yesterday, they announced an interest rate hike of 75 basis points.

The main goal is to destroy some demand - which will eventually end up tackling inflation.

This hike brings the base rate in the EU to the highest it's been since 2011, currently standing at 0.75%.

The problem? ECB President Christine Lagarde warned us of "several rate increases in the coming months".

Seatbelts in, nice and tight. 💥

2 - Liz Truss rolls out a $175bn package to cool inflation. 🤔

The UK's new Prime Minister Liz Truss unveiled her aid package - and here are some of the details.

It's gonna be worth about US$175 billion, or 150 billion Pounds.

It'll also cover just 6-months worth of energy bills for businesses.

Households on the other hand, get two years of cover. This limits the annual household bill to GBP 2,500.

Hot stuff. 🥵

3 - Ukraine gains some ground in Russian territory. 🔫

Ukraine claimed to have launched it's most successful counter attack against Russia since the war started.

In this week's video address from Ukraine's president, he spoke of "good news from Kharkiv", with an upbeat mood that we've rarely seen from him this year.

The area that Ukraine have just taken over is right next to one of Russia's largest military bases. Here's a video of them taking over one of the cities.

War's a cold, hard game. 💣

4 - Apple drops it's new phones for 2022. Same stuff. 💀

Apple just launched their new iPhone 14 lineup.

They've swapped the notch out for a little pill-shaped cutout of the screen.

It has some funky animations and nice looking features - but it's the same stuff under a different hood.

They also dropped their AirPods Pro 2 - the successor to the king.

The box now has a speaker. In case you lose them.

We move closer to using Androids every day. 🤷

5 - Long live, Queen Elizabeth. 👑

Britain is in mourning over the death of their longest-serving monarch.

Queen Elizabeth II passed away yesterday, at the age of 96.

Financial Times marked this a "turning point moment" for the citizens of the UK - bringing to end quite an era.

She spearheaded the people of the UK from a post-war state and helped stabilize the country - so she's a very, very loved figure.

God bless. 🙏

Hope you enjoyed this issue of the Market Munch. If you've got any feedback - good or bad (😏) you can hit reply to this email. Thanks a ton for reading!

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Cheers, and have a lovely day. 🙏

Aryaansh