Former talent agency boss had closer relationship with sex offender than thought, and supported him after 2009 arrest A female executive at the top of the modelling industry had a close friendship with Jeffrey Epstein and introduced him to women on the agency’s books, a Guardian investigation has found. Until last November, Faith Kates ran Next Management modelling and talent agency, which has rep...
Former talent agency boss had closer relationship with sex offender than thought, and supported him after 2009 arrest A female executive at the top of the modelling industry had a close friendship with Jeffrey Epstein and introduced him to women on the agency’s books, a Guardian investigation has found. Until last November, Faith Kates ran Next Management modelling and talent agency, which has represented the likes of Alexa Chung, Milla Jovovich and Billie Eilish, a position she held for decades as the founder of the business. She stepped down quietly just weeks before the first major Epstein files were released, saying she intended to focus on charity work. 18 July 2009 10.18am I am and will always be your friend...Unconditionally...will always be there for you. 5 September 2009 7.47pm Thinking of you a lot and hoping you are finally enjoying some please [sic] and quiet..know you are always in my thoughts and prayers. You are a good friend my dear friend.. 5 September 2009 7.54pm thanks,, lets get back to work. Continue reading...
Jacques LOIC/Photononstop via Getty Images By Michiel Tukker , Senior UK & Eurozone Rates Strategist | Benjamin Schroeder , Senior Rates Strategist Longer EUR rates cannot keep up if oil pushes much higher Hopes of a near-term resolution to the Middle East conflict are fading again, while growth concerns are still intensifying. Brent oil pricing well above $100 per barrel is too high for EUR rates...
Jacques LOIC/Photononstop via Getty Images By Michiel Tukker , Senior UK & Eurozone Rates Strategist | Benjamin Schroeder , Senior Rates Strategist Longer EUR rates cannot keep up if oil pushes much higher Hopes of a near-term resolution to the Middle East conflict are fading again, while growth concerns are still intensifying. Brent oil pricing well above $100 per barrel is too high for EUR rates markets to find comfort. The very front end of the swap curve has been sticking close to the script since the start of the war: a $10 rise implying almost an entire hike extra over the next 12 months. And with European Central Bank officials giving little pushback to the hawkish pricing, we don’t see why markets would deviate from this trading strategy. But the story has been different further out the curve, where growth concerns have started to push downwards at higher oil prices. When we zoom into the 2s5s part of the curve, we see a non-linearity arising for higher oil prices. If the pattern were to hold, oil pushing beyond $120 poses the risk of a steep inversion. In this scenario, rate markets see steep ECB rate hikes followed up by a significant easing cycle on the back of deteriorating growth. For higher oil prices longer rates struggle keeping up with the short end Source: ING, Macrobond However, another narrative is gaining traction as of late, whereby energy disruptions will last much longer than initially feared. And ECB President Christine Lagarde has fuelled such concerns with her latest interview in The Economist . She remarked that risks from the war are being underestimated and that the ECB's technical experts believe that damage already incurred to the infrastructure was enough to disrupt the energy supply for years rather than just months. Laying out the spectrum of possible responses just earlier this week, she said, "large, sustained deviations call for forceful monetary policy action." Oil prices pushed rates higher over the course of Thursday. The fro...