Market Extra Powell Says No Rate Cuts in 2023 But the Bond Market Doesn T Agree
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Markets are wrong to think U.K. rate cuts will track the U.S., says Bank of England policymaker
Linking the trajectory of interest rate cuts in the U.K. too tightly to the U.S. is mistaken because British inflation will be stickier, according to a Bank of England monetary policymaker.MarketWatch - Business -
Powell says conditions needed to cut rates likely to take longer to appear
Recent inflation data has not given greater confidence about declining inflation, Fed chair says.MarketWatch - Business -
Fed's Powell Says Inflation All but Dooms Rate Cuts This Year
Robust job growth,higher stock prices, and home values all point to a solid economy despite high interest rates that everyone hates.Inc. - Business - Federal Reserve -
Markets slash bets on rate cuts after US inflation rises to 3.5%
Figures for consumer prices and core inflation exceed expectationsFinancial Times - Business -
U.K. Labor Market Cools Again, Making Rate Cuts More Likely
Unemployment ticked higher and wage growth slowed in the U.K. in the three months to February, adding to signs that inflation is easing and making interest-rate cuts likelier in the coming months.The Wall Street Journal - World - United Kingdom -
Powell says rate cuts will take 'longer than expected' after 'lack of progress' on inflation
Federal Reserve Chair Jerome Powell said Tuesday that it will likely “take longer than expected” for the central bank to gain the confidence that inflation is sustainably falling to 2 percent and begin cutting interest rates. “More recent data ...The Hill - Politics -
Fed Chair Jerome Powell Dials Back Expectations on Interest-Rate Cuts
Federal Reserve Chair Jerome Powell said firm inflation had introduced new uncertainty over whether the central bank would be able to lower rates this year.The Wall Street Journal - World - Federal Reserve -
Scope for More Selloff in U.S. Treasurys Seen Limited
The hot U.S. inflation print, third in a row, triggered a sharp selloff in Treasurys, led by the front end, but the room for a further selloff is capped, Societe Generale Research said.The Wall Street Journal - World -
Fresh uncertainty around Fed rate cuts exposes the stock market’s winners and losers
Higher U.S. inflation is dashing investors’ hopes for multiple Federal Reserve rate cuts this year, while opening the door to 5% Treasury yields across the board and cleaving the stock market into distinct categories of winners and losers.MarketWatch - Business - Federal Reserve -
Housing market ‘stagnant but determined’ as mortgage rates surge past 7%, Rocket CEO says
The U.S. economy is still hot, which means that the real-estate industry will face headwinds in the coming months due to higher mortgage rates.MarketWatch - Business - Mortgage -
Fed's Powell: Elevated inflation will likely delay rate cuts this year
Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer ratesABC News - Top stories - Federal Reserve -
This is why investors shrugged off Powell’s ‘reset’ of Fed rate-cut expectations
Investors largely took Federal Reserve Chair Jerome Powell’s comments on the outlook for interest rates in stride on Tuesday — a development that might have come as a surprise to some market watchers.MarketWatch - Business - Federal Reserve -
Inflation is ‘thorn’ in market’s side — but these ETFs rose even as stocks, bonds fell
Some exchange-traded funds rallied Wednesday even as stocks and bonds broadly fell, as hot inflation data stoked fears that interest rates will stay elevated for longer than anticipated.MarketWatch - Business -
‘Blowout’ US retail sales shake bond and currency markets
Government debt sells off and dollar gains as latest sign of hot economy cools hopes of interest rate cutsFinancial Times - Business -
Bond Markets Seen Offering Opportunities Even Amid Tighter Spreads
There are opportunities in bond markets despite tighter spreads, Edmond de Rothschild Asset Management said, adding that with rates high in absolute terms, they offer some protection against any economic accident.The Wall Street Journal - World -
Citizens Financial is latest lender to tap the bond market a day after earnings
Regional bank’s most active bond is currently yielding 6.64%MarketWatch - Business -
China’s stockbrokers suffer pay cuts as markets decline
Financial disclosures show executive salaries at leading brokerages have fallen in past two yearsFinancial Times - Business - China -
Stocks, bonds slump as traders shift Fed rate-cut expectations to September
Markets were rattled Wednesday by a stronger-than-expected inflation report, with stocks and bonds selling off as investors questioned whether the latest data will keep the Federal Reserve from cutting interest rates at all this year.MarketWatch - Business - Federal Reserve -
This major bond ETF is getting ‘hammered’ as investors brace for rate-cut delays
In the bruised bond market, some investors may be tempted by higher yields as questions swirl around when — and whether — the Federal Reserve may start cutting interest rates this year.MarketWatch - Business -
Housing Market Slumps as Mortgage Rates Top 7%
Existing home sales in March posted their biggest monthly drop in more than a year, buffeted by mortgage rates that rose again.The Wall Street Journal - World - Mortgage -
Stock-market pullbacks are price of admission. Historically, markets rise afterwards, this strategist says.
Keith Lerner, chief market strategist at Truist Advisory Services, said it’s normal for markets to pull back — only three years out of the last 40 was there not a pullback of more than 5%.MarketWatch - Business -
The U.S. continues to accelerate its push for clean energy but the market for rooftop solar power is shrinking, pummeled by high interest rates, tight credit and cuts to solar incentives.
The U.S. continues to accelerate its push for clean energy but the market for rooftop solar power is shrinking, pummeled by high interest rates, tight credit and cuts to solar incentives.The Wall Street Journal - World -
Stock market today: Asian markets are mixed, Shanghai falls as Fitch lowers China's rating outlook
BANGKOK (AP) — Shares were mixed Wednesday in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports. Hong Kong’s Hang Seng gained 1.7% to 17,115.94, while the Shanghai Composite index lost 0.8% to ...Yahoo Sports - Sports - China -
This quality approach to a cheap part of the stock market garners a five-star rating
Small-cap stocks are trading at the bottom of their valuation range over the past two decades.MarketWatch - Business -
Investors wrongfooted as ‘higher for longer’ rates return to haunt markets
Analysts tear up interest rate forecasts as inflation proves more stubborn than most had expectedFinancial Times - Business -
The migrant highway that could sway the US election
The Darién Gap has become a key migration route for people heading towards the USFinancial Times - Business -
Top commodities traders dismiss IPO route after bumper profits
Executives at Vitol, Trafigura and Mercuria say banks and export credit agencies have never been so keen to lend to themFinancial Times - Business -
Franklin, Apple TV+ — story of a polymath patriot who secured the future of America
Part biography and part costume drama, Michael Douglas plays Benjamin Franklin with twinkling mischiefFinancial Times - World - Apple -
Rate Cuts Are Direction of Travel, BOE's Lombardelli Says
The Bank of England is likely to cut its key interest rate over the coming months, but exactly when is uncertain, the incoming deputy governor for monetary policy said.The Wall Street Journal - World -
Fed chair Jerome Powell: high inflation likely to delay rate cuts this year
US central banker says ‘recent data have clearly not given us greater confidence’ that inflation coming fully under control. The Federal Reserve chair, Jerome Powell, cautioned on Tuesday that persistently elevated inflation will probably delay ...The Guardian - World - Federal Reserve -
Why the bond market still holds the cards as Fed walks back its pivot talk
Fed Chairman Jerome Powell is indicating inflation appears to be stuck, a threat to expected rate cutsMarketWatch - Business -
FirstFT: Traders buy European over US bonds in bet on swifter ECB rate cuts
Also in today’s newsletter, OpenAI and Meta ready new AI models, and stories from the Darién Gap migrant routeFinancial Times - World -
Eurozone Bond Yields Little Changed, Euro Falls After ECB Decision
Eurozone government bond yields barely move after the ECB left interest rates unchanged, as expected.The Wall Street Journal - World -
Warren Buffett's favorite indicator says stocks are overpriced: Here's what actually may be going on
By one famous measure, stocks looks overvalued. But investing pros say the market's fundamentals are strong.CNBC - Business -
A.L.S. Drug Relyvrio Will Be Taken Off the Market, Its Maker Says
Results of a large clinical trial found the treatment did not work any better than a placebo.The New York Times - Health -
High company valuations a 'worry,' IMF's capital markets chief says
High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF said Tuesday.CNBC - Business