Battered Treasury Bond Traders Adopt 'Show Me' Attitude to Avoid More Hits
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Treasury bond traders are adopting a 'show me' attitude to avoid more hits. The article discusses how traders are being cautious and skeptical after experiencing significant losses in the Treasury bond market. It highlights that the market has been volatile due to factors such as rising interest rates and inflation concerns. Traders are now demanding more evidence and proof before making investment decisions. The article mentions that the Federal Reserve's monetary policy decisions and economic data releases are closely watched by traders. It also notes that the bond market has been impacted by the ongoing pandemic and the government's fiscal stimulus measures. The article provides insights from market participants and experts on the current state of the Treasury bond market and the strategies being employed by traders. The author of the article is not mentioned. The article was published on Bloomberg. The core topic of the article is the Treasury bond market. The source language is English. The primary location related to the content is not specified. The publication time is not provided. The genre of the article is news. The tags for the article could include Treasury bonds, bond market, traders, Federal Reserve, interest rates, inflation, pandemic, fiscal stimulus. The taxonomy levels could include Finance, Economics, and Investments. The article does not appear to be bot-generated, promotional, a placeholder, or behind a paywall.

#TreasuryBonds #BondMarket #Traders #FederalReserve #InterestRates #Inflation #Pandemic #FiscalStimulus

https://www.bloomberg.com/news/articles/2024-04-14/battered-treasury-bond-traders-adopt-show-me-attitude-to-avoid-more-hits?srnd=all


Markets Weigh Up Risk of Retaliation-Cycle After Iran Hits Israel
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Financial markets are concerned about the risk of a retaliation-cycle after Iran's attack on Israel. The escalation of the Middle East crisis is expected to inject fresh volatility into the markets. Investors fear that oil prices could surpass $100 a barrel and expect a flight to safe-haven assets such as Treasuries, gold, and the dollar. The conflict in the Middle East has not yet impacted oil production, but attacks by Iran-backed Houthis in the Red Sea have disrupted shipping. Traders are also concerned about the potential disruption of tanker shipments from the Persian Gulf through the Strait of Hormuz. The S&P 500 is coming off its biggest weekly decline since October due to higher-than-expected inflation and disappointing bank earnings. Investors will be watching oil prices as a guide for how to respond. Gold has gained 13% this year and the US dollar has strengthened. The reaction of Israel and the US to the attack will be crucial in determining market sentiment and potential further escalation.

#Iran #Israel #MiddleEast #Geopolitics #FinancialMarkets #OilPrices #SafehavenAssets #Treasuries #Gold #Dollar #S&p500 #Inflation #BankEarnings

https://www.bloomberg.com/news/articles/2024-04-14/markets-weigh-up-risk-of-retaliation-cycle-as-iran-hits-israel


Biden Has Lost the Plot on Student Debt Relief
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The article discusses President Biden's approach to student debt relief. It criticizes his proposal to cancel $10,000 in student loan debt per borrower, arguing that it is a misguided policy. The author argues that student debt cancellation would primarily benefit higher-income individuals and would not address the root causes of rising college costs. The article also mentions that Biden's plan does not include any provisions for income-based repayment or targeted relief for borrowers in financial distress. The author suggests that instead of blanket debt cancellation, the government should focus on improving income-driven repayment plans and addressing the underlying issues in the higher education system. The article does not provide specific names, numbers, dates, or timelines.

https://www.bloomberg.com/opinion/articles/2024-04-14/biden-has-lost-the-plot-on-student-debt-relief


Israel Confirms Iran Fired Missiles Into Its Territory
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Iran has started its retaliatory attack on Israel, firing drones and missiles into the country. A number of countries in the region have closed their airspace in response. The Israeli war cabinet, chaired by Prime Minister Benjamin Netanyahu, is discussing the drone attack. The areas of Nevatim, Dimona, and Eilat have been instructed to remain close to shelters, indicating that Iran may be targeting military targets. The US has expressed its support for Israel's security.

https://www.bloomberg.com/news/live-blog/2024-04-13/iran-attack-on-israel


Summers Warns About Avoiding a ‘Large and Egregious Error’ in Monetary Policy
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Larry Summers warns about avoiding a 'large and egregious error' in monetary policy. He suggests that the Federal Reserve should leave interest rates where they are based on the latest inflation data. The inflation data shows sticky price pressures, indicating an economy growing faster than potential with low unemployment and fiscal stimulus fueled by budget deficits. Summers believes that the neutral Fed funds rate is way above the 2.6% level that the Fed has been using as a North Star.

https://www.bloomberg.com/news/newsletters/2024-04-13/summers-warns-about-avoiding-a-large-and-egregious-error-in-monetary-policy


Japan’s Kishida Hails His Visit to US as a Diplomatic Success
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Japanese Prime Minister Fumio Kishida touted diplomatic success during his weeklong visit to the US while pledging to keep close ties with South Korea, despite an election loss for the nation’s president. His official visit to Washington, the first in nine years by a Japanese leader, resulted in initiatives that will improve military operations between the two countries and build a stronger alliance with the Philippines to counter an assertive China. Kishida also used the trip to convince American companies to invest in Japan and showcase the positive impact that his nation has on the US economy as the biggest foreign investor. Kishida wanted to send a message about the kind of future Japan and the US want to build, and he believes he was able to convey that message to the US Congress, American people, and the world. Kishida emphasized the importance of expanding cooperation between Japan and South Korea in a multi-faceted manner, despite an election loss for South Korean President Yoon Suk Yeol. The US trip may help Kishida restore his fragile public support following a party slush fund scandal. He has pledged to reform political funds regulations and is not currently considering a snap election.

#Japan #Us #Diplomacy #FumioKishida #SouthKorea #Election #MilitaryOperations #Alliance #China #Investment #SlushFundScandal #PoliticalFundsRegulations #SnapElection

https://www.bloomberg.com/news/articles/2024-04-13/japan-s-kishida-hails-his-visit-to-us-as-a-diplomatic-success


US Set to Ring Alarm Bells Over Chinese Industry on World Stage
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US Treasury Secretary Janet Yellen warns China's manufacturing power is a threat to global economic stability. The US is expected to rally other countries to voice concerns over China's output and exports at the upcoming spring meetings of the International Monetary Fund and the World Bank. The US is concerned that China will flood US and European markets with electric vehicles, similar to what it did with solar panels and steel industries. G-7 allies and other countries have also expressed concerns over Chinese exports. The US has signaled it's exploring tariffs on Chinese EVs, and the European Commission is moving towards imposing additional tariffs on the vehicles.

#Us #China #Manufacturing #Exports #ElectricVehicles #Tariffs #G7 #Imf #WorldBank

https://www.bloomberg.com/news/articles/2024-04-12/us-set-to-ring-alarm-bells-over-chinese-industry-on-world-stage


Reality Check: The Bloomberg Close, Americas Edition
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JPMorgan, Citi, and Wells Fargo posted mixed results amid an interest-rate outlook muddied by persistent inflation.

https://www.bloomberg.com/news/newsletters/2024-04-12/reality-check-the-bloomberg-close-americas-edition


Dollar Eyes Best Run in 18 Months on Fed Rethink, Haven Demand
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The US dollar is on track for its biggest weekly gain in over a year and a half due to the strength of the US economy and its safe-haven status. The dollar has gained roughly 1.3% since Monday's open, driven by hotter-than-expected inflation data and a report that Israel was preparing for an Iranian attack. Traders are pushing back the timing of the first Fed rate cut, contributing to the dollar's strength. The dollar's weekly advance is the largest since September 2022.

https://www.bloomberg.com/news/articles/2024-04-12/dollar-eyes-best-run-in-18-months-on-fed-rethink-haven-demand


US Consumer Sentiment Slips on Dimmer View of Inflation Outlook
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US consumer sentiment declined in early April to 77.9 from last month's 79.4, according to the University of Michigan's preliminary April consumer sentiment index. This is lower than the median estimate of 79 in a Bloomberg survey of economists. Inflation expectations increased, indicating Americans' frustration with high prices.

https://www.bloomberg.com/news/articles/2024-04-12/us-consumer-sentiment-slips-on-dimmer-view-of-inflation-outlook


Tata Communications Plans To Introduce AI Cloud Soon, CEO Says
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Tata Communications CEO, Amur Lakshminarayanan, discusses the company's plan to introduce an AI cloud. The company aims to pivot to a digital fabric, which includes a network fabric, a cloud in the edge fabric, an interaction fabric, and an IoT fabric. They will soon be launching their own cloud. The CEO highlights the potential of the network fabric and the challenges of cloud networking. The company has made investments in building capabilities and platforms, including acquisitions in the media and customer interaction businesses. Tata Communications is also partnering with Nvidia to build the AI cloud, and they are engaging with potential customers to offer a full platform. The CEO expresses confidence in the company's profitability and expects margins to improve in the next couple of years. The partnership with Nvidia is expected to be ready in the next couple of quarters. The CEO also discusses the spin-off of Tata Communications' digital services into a separate company, which aims to deliver products and services that are not typically telecom-oriented. The CEO is optimistic about the prospects of the company's customers in the UK, as they focus on getting their foundational digital foundation right. Overall, Tata Communications is positioning itself for growth in the digital space.

https://www.bloomberg.com/news/videos/2024-04-12/tata-communications-to-introduce-ai-cloud-soon-ceo-video


Big Bets on Fed Rate Cuts Look Like Fantasies
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State Street Global Advisors made a big call on Fed rate cuts; however, it looks unlikely to happen. The Federal Reserve Chairman, Jerome Powell, spoke at the Macroeconomics and Monetary Policy Conference on March 29, 2024. The article is written by Katie Greifeld and was published on April 12, 2024. The article discusses the skepticism surrounding the possibility of Fed rate cuts and questions the validity of the big bets made on this outcome.

https://www.bloomberg.com/news/newsletters/2024-04-12/big-bets-on-fed-rate-cuts-look-like-fantasies


Lots More on America's Electrical Components Crisis
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The US economy experienced historic shortages of various goods in 2021 and 2022. While most shortages have eased, there is still a shortage of electrical components, specifically transformers and switchgears. These components are crucial for connecting new construction developments to the power grid. Commercial real estate developer Chris Hatch, partner at Forza Development, discusses how the shortage is impacting his business. The delays caused by the shortage are proving to be costly.

https://www.bloomberg.com/news/articles/2024-04-12/there-s-a-shortage-of-electrical-transformers-and-switchgear-components


US Military Warns Ukraine Is in Dire Need of Aid
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The US military warns that Ukraine is in dire need of military aid. Kremlin forces have destroyed the biggest power plant in the Kyiv region, putting Ukraine at a disadvantage. Ukraine is short of ammunition and soldiers, and without more aid, it may suffer significant territorial losses. Republicans in Congress have blocked a $60 billion military aid package, demanding concessions on immigration. However, a compromise has been reached that addresses many of their border enforcement demands. General Christopher Cavoli, head of US European Command, warns that Ukrainians are outshot by the Russians 5 to 1, and that ratio will increase to 10 to 1. UnitedHealth Group Chairman Stephen Hemsley and three senior executives made a combined $101.5 million from stock sales during a federal antitrust investigation. The sales occurred between October 16 and February 26, when the public became aware of the investigation.

#Ukraine #MilitaryAid #Russia #Republicans #Congress #Immigration #GeneralChristopherCavoli #UnitedhealthGroup #StockSales #FederalAntitrustInvestigation

https://www.bloomberg.com/news/newsletters/2024-04-11/bloomberg-evening-briefing-general-warns-ukraine-in-dire-need-of-military-aid


Amazon Needs Electric Trucks, Not Drone Swarms
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Amazon CEO Andy Jassy released his shareholder letter, emphasizing the need for electric trucks instead of drone swarms. The company's unmanned aircraft can only carry orders up to five pounds and fragile items may not survive a 12-foot drop. The article suggests that Jassy's letter may not effectively convey his personality and highlights the importance of a well-written shareholder letter.

https://www.bloomberg.com/opinion/articles/2024-04-11/amazon-ceo-andy-jassy-needs-electric-trucks-not-drone-swarms


Lagarde Feels Pull of Fed’s Tractor Beam as ECB Plans Rate Cut
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Christine Lagarde, President of the European Central Bank (ECB), is taking a less defiant tone on the influence of US policy as the ECB plans an interest-rate cut. Lagarde refrained from speculating much beyond a prospective move in June and acknowledged the gravitational pull of events in the US. The ECB has been debating a path of future easing, and Lagarde's remarks offer more nuance than those in March. Lagarde recognizes the US as a very large market and a sizable economy.

#Ecb #InterestrateCut #UsPolicy #ChristineLagarde

https://www.bloomberg.com/news/articles/2024-04-11/lagarde-feels-pull-of-fed-s-tractor-beam-as-ecb-plans-rate-cut


Stubborn US Inflation Upends Forecasts for Rate Cuts
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US inflation is higher than expected, causing revisions in Fed rate cut forecasts. The article discusses the impact of inflation on the Federal Reserve's decision-making process. The author, Chris Anstey, highlights the wave of forecast revisions and the uncertainty surrounding future rate cuts. The article invites readers to provide feedback and tips via email or through the Bloomberg Terminal.

https://www.bloomberg.com/news/newsletters/2024-04-11/global-economy-latest-trying-to-predict-fed-rate-cut-path


BOE’s Greene Joins Hawkish Voices Warning Against Early Rate Cut
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Megan Greene, a Bank of England rate-setter, stated that interest rate cuts in the UK "should still be a way off" due to the higher risk of persistent inflation compared to the US and other countries. This indicates Greene's hawkish stance within the UK central bank's Monetary Policy Committee. The committee is currently considering when to lower interest rates from their highest level in 16 years.

https://www.bloomberg.com/news/articles/2024-04-11/boe-s-greene-joins-hawkish-voices-warning-against-early-rate-cut


Buffalo, Syracuse Saw Biggest Economic Impact From Solar Eclipse Tourism
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Buffalo and Syracuse experienced the biggest economic impact from solar eclipse tourism. The solar eclipse occurred on April 10, 2024. The article discusses the economic benefits of solar eclipse tourism in these two cities. The author and source of the article are not provided. The article is from Bloomberg. The content is in English. The primary location related to the content is Buffalo and Syracuse. The article falls under the genre of News. The article does not provide a publication time. The article is not flagged as bot-generated, promotional, a placeholder, or behind a paywall.

https://www.bloomberg.com/news/articles/2024-04-10/buffalo-syracuse-saw-biggest-economic-impact-from-solar-eclipse-tourism


Wall Street Sees Earnings Propelling Defiant Stock Rally Onward
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Wall Street analysts are optimistic about the upcoming earnings season, expecting strong results to continue driving the stock market rally. The S&P 500 is projected to report a 24% increase in earnings for the first quarter of 2024. Analysts believe that robust earnings growth will outweigh concerns about rising interest rates and inflation. The stock market has remained resilient despite recent volatility, with investors focusing on the positive outlook for corporate profits. The upcoming earnings reports from major companies will be closely watched as they provide insights into the health of the economy and the sustainability of the market rally.

https://www.bloomberg.com/news/articles/2024-04-10/wall-street-sees-earnings-propelling-defiant-stock-rally-onward


China Tells Mid-to-High-End Hotels to Accept Foreign Bank Cards
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China has instructed mid-to-high-end hotels to accept foreign bank cards as part of efforts to boost tourism. The move is aimed at making it easier for foreign tourists to pay for their accommodations in China. The directive was issued by the People's Bank of China and the Ministry of Culture and Tourism. The policy applies to hotels with a star rating of three or above, and failure to comply could result in penalties. The new rule is expected to benefit both foreign tourists and the Chinese tourism industry.

#China #Tourism #ForeignBankCards

https://www.bloomberg.com/news/articles/2024-04-09/china-tells-mid-to-high-end-hotels-to-accept-foreign-bank-cards?utm_source=website&utm_medium=share&utm_campaign=twitter?sref=ysuIuXhc&embedded-checkout=true


US, China Have Stabilized Relations Over Past Year, Yellen Says
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US Treasury Secretary Janet Yellen stated that the United States and China have stabilized their relations over the past year. Yellen made this statement during a virtual event hosted by the National Committee on US-China Relations. She also mentioned that the two countries have been able to cooperate on issues such as climate change and the COVID-19 pandemic. Yellen's remarks come amid ongoing tensions between the US and China on various fronts, including trade and human rights. The virtual event took place on April 7, 2024.

https://www.bloomberg.com/news/articles/2024-04-07/us-china-have-stabilized-relations-over-past-year-yellen-says?utm_source=google&utm_medium=bd&cmpId=google


CIBC CEO Dodig says multiple rate cuts this year are unlikely
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CIBC CEO Victor Dodig does not expect multiple rate cuts this year. He believes that economic conditions will soon merit action by the Bank of Canada and other central banks, but their reductions are unlikely to be particularly aggressive. Dodig predicts that the back half of this year is likely to see a rate cut, possibly two, in major developed economies like Europe, Canada, and the United States. His predictions differ from the median estimate of economists who expect 100 basis points of cuts by the Bank of Canada's December meeting. CIBC, heavily exposed to Canada's mortgage market, has seen its clients take action to address negative amortization on their mortgages.

#Cibc #VictorDodig #BankOfCanada #InterestRates #Economy

https://www.bloomberg.com/news/articles/2024-04-04/cibc-s-ceo-makes-bearish-prediction-for-this-year-s-rate-cuts


US, Allies to Conduct Maritime Drills in Philippines on April 7
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The US, Australia, Japan, and the Philippines will hold joint military drills in the South China Sea on April 7. The drills aim to strengthen interoperability and will take place within the Philippines' exclusive economic zone. The decision comes amid heightened tension between Manila and Beijing in the disputed waters.

#Us #Australia #Japan #Philippines #SouthChinaSea #MilitaryDrills

https://www.bloomberg.com/news/articles/2024-04-06/us-allies-to-conduct-maritime-drills-in-philippines-on-april-7


South Korean Party Pledges Access to US Bitcoin ETFs in Race for Votes
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South Korean People Power Party pledges to delay a digital-asset tax and the opposition Democratic Party promises to lift curbs on exchange-traded funds (ETFs), including US products, that directly hold tokens. The parliamentary election in South Korea is scheduled for April 10, 2024.

#SouthKorea #ParliamentaryElection #BitcoinEtfs

https://www.bloomberg.com/news/articles/2024-04-05/south-korean-party-pledges-access-to-us-bitcoin-etfs-in-race-for-votes


Live: Analysis of US Jobs Report for March
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US payrolls jump 303,000; unemployment rate drops. Labor participation rate rises more than expected. Job gains remain fairly broadly spread. S&P 500 Falls 1% as Oil Jump Spurs Flight to Bonds. Apple Explores Home Robotics as Potential ‘Next Big Thing’ After Car Fizzles. Zimbabwe Replaces Battered Dollar With New Gold-Backed Currency Called ZiG. Elon Musk’s X Has a Porn Problem. Stocks Rise as Jobs Data Show US Is Powering Ahead.

https://www.bloomberg.com/news/live-blog/2024-04-05/us-employment-report-for-march


Yellen Starts China Tour With Warning on Factory ‘Overcapacity’
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Janet Yellen, Treasury Secretary, chided China for 'unfair' treatment of American and other foreign companies and warned that its factories risk producing more than the world can easily absorb. Yellen made these remarks during a four-day visit to China, where she intends to raise these issues in meetings. She specifically mentioned China's 'unfair economic practices' and 'coercive actions against American companies', including imposing barriers to access for foreign firms.

#JanetYellen #China #UsFirms #FactoryOvercapacity #EconomicPractices

https://www.bloomberg.com/news/articles/2024-04-05/yellen-starts-china-tour-with-warning-on-factory-overcapacity


Powell’s Insistence on Three Fed Cuts Limits Bond Declines
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Federal Reserve Chairman Jerome Powell's announcement of three interest-rate cuts limits bond declines. The article discusses the impact of Powell's statement on the bond market.

https://www.bloomberg.com/news/newsletters/2024-04-05/powell-s-insistence-on-three-fed-cuts-limits-bond-declines


Gold's Stealthy Bull Market Confuses Even Its Fans
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Gold has reached a string of fresh record highs, but its rise has been met with indifference. The article discusses the confusion surrounding the bull market in gold and questions who has been buying the metal. The author mentions a new column by Merryn Somerset Webb that explores how investors can navigate an era dominated by a few large tech stocks.

https://www.bloomberg.com/news/newsletters/2024-04-04/gold-at-record-high-confusing-even-its-fans


Why the US Job Market Isn’t So Hot After All
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The US economy grew over 3% last year and sustained sub-4% unemployment despite aggressive Federal Reserve monetary tightening. However, inflation has slowed. The article discusses the factors contributing to the US job market's performance.

https://www.bloomberg.com/news/newsletters/2024-04-04/world-economy-latest-why-the-us-job-market-isn-t-so-hot-after-all


The Fed Is Wrong About How Low Interest Rates Will Go
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The federal funds rate will probably stay higher than projected. Financial markets and the US Federal Reserve are in disagreement on how low interest rates will go.

https://www.bloomberg.com/opinion/articles/2024-04-04/the-fed-is-wrong-about-how-low-interest-rates-will-go


Europe’s Biggest Asset Manager Is Looking to Buy Dips After Missing Out on Stocks Rally
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Amundi SA, Europe's biggest asset manager with over $2.1 trillion under management, is upgrading its view on equities to neutral and is looking to buy stocks in developed markets after sitting out on a rally of more than 30%. The money manager is waiting for valuations to drop before increasing its exposure further. Easing monetary policy and strong corporate earnings growth would be catalysts to increase allocation. Amundi remains selective on stocks and sees any correction in the markets as a buy opportunity. The S&P 500 Index is trading at nearly 21-times forward earnings, well above the long-term average of 16. Amundi has a balanced stance toward the US market and likes defensive stocks.

#Amundi #AssetManager #Equities #StockRally #Valuations #CorporateEarnings #S&p500 #UsMarket

https://www.bloomberg.com/news/articles/2024-04-04/stocks-amundi-is-looking-to-buy-dips-after-missing-out-on-rally


Long Shadow of the Fed Shows Limits of ECB Talk of Independence
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The European Central Bank (ECB) insists it won't take cues from the US Federal Reserve on when to start cutting interest rates, but its subsequent policy path may be shaped by what happens in the US. Economic trends in the US have a quick impact on other regions, affecting financing conditions and inflation, trade, and other metrics. Policymakers in the euro-area can't escape the Fed's gravitational pull when assessing the fate of their own economies.

#Ecb #UsFederalReserve #EuroareaEconomy

https://www.bloomberg.com/news/articles/2024-04-04/long-shadow-of-the-fed-shows-limits-of-ecb-talk-of-independence


India’s Early Rate-Cut Hopes Dim as Inflation Threat Lingers
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India's central bank is expected to keep interest rates unchanged at 6.5% for a seventh straight policy meeting. The government's warning of a coming inflation threat and the faster-than-expected growth of the economy have diminished hopes for an early rate cut. While some economists see a chance for the central bank to signal rate cuts in the future, most expect it to maintain its hawkish stance.

#India #InterestRates #Inflation #Economy #MonetaryPolicy

https://www.bloomberg.com/news/articles/2024-04-04/india-s-early-rate-cut-hopes-dim-as-inflation-threat-lingers


India’s Takeoff Has to Start on the Factory Floor
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India's working-age population swells by eight million a month. Prime Minister Narendra Modi promised to vastly expand employment opportunities. Only export-led manufacturing can provide the millions of jobs the country needs.

#India #Employment #Manufacturing #NarendraModi

https://www.bloomberg.com/opinion/articles/2024-04-03/modi-must-create-more-factory-jobs-for-india-to-grow


Why the US Immigration System Is a Big Election Issue
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Immigration has become a major issue in the 2024 campaign, with a recent poll finding it second only to the economy as voters' top concern. Courts are overwhelmed with unprecedented levels of immigration cases, and border towns are struggling to handle the influx of migrants. Governors in Texas, Florida, and Arizona are busing migrants to cities in northern states, exacerbating the burden. The current immigration system is outdated and unpopular, and the presidential election is bringing attention to the issue.

https://www.bloomberg.com/news/newsletters/2024-04-03/why-the-us-immigration-system-is-a-big-election-issue-big-take


Dollar Weakens as US Data Points to Easing Inflation Pressure
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The Bloomberg Dollar Spot Index fell as much as 0.4% on Wednesday as price pressures in the US services industry eased and Federal Reserve Chair Jerome Powell said he wants to see inflation move sustainably to the US central bank’s 2% goal before starting to lower interest rates. Growth in the US services sector eased last month while a gauge of input costs decreased to a four-year low, according to a report by the Institute for Supply Management. Traders are now predicting less than three rate cuts this year, following earlier expectations of as many as six rate reductions in 2024. The Norwegian krone and Swedish krona gained about 1% against the greenback, while the Australian dollar climbed 0.7%. The Japanese yen was the only currency in the group that fell.

#Dollar #UsData #InflationPressure #FederalReserve #JeromePowell #UsServicesIndustry #InterestRates #UsEconomy

https://www.bloomberg.com/news/articles/2024-04-03/dollar-weakens-as-us-services-data-points-to-easing-inflation-pressure


Why the Idea of US Exceptionalism Is Overdone
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The United States economy has outperformed other G-10 economies over the past year and that growth spurt looks like it will continue. The outperformance of the US economy and US equities has been front and center in 2024. The question is whether there is something unique and enduring about the US that can keep this state of affairs going. The US leverage to the technology sector is seen as a double-edged sword.

https://www.bloomberg.com/news/newsletters/2024-04-03/why-the-idea-of-us-exceptionalism-is-overdone


US Retirement Worries Subside as Wealth Rises
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The era of gold-plated pension plans is long gone. Worries over Social Security's eventual insolvency and under-invested Americans outliving their nest eggs persist. However, US retirement worries are subsiding as wealth rises. The article discusses the implications of flush US retirement accounts. The author mentions that the era of gold-plated pension plans has been replaced by concerns about Social Security's solvency and many Americans not having enough savings. Despite these concerns, retirement worries are diminishing as wealth increases.

https://www.bloomberg.com/news/newsletters/2024-04-03/us-retirement-worries-subside-as-wealth-rises


Biden's Record Jobs Boom Power Swing State of Georgia
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Georgia's economy is booming under Joe Biden's presidency. Since 2021, Georgia has experienced an 11.9% increase in manufacturing payrolls, the highest in three decades. The state's rate of employment gains is superior to that of Biden's predecessor, Donald Trump. Georgia's labor market is outperforming the rest of the nation, a trend that has not been seen in previous presidencies. This economic success could have implications for the swing state's political landscape.

#JoeBiden #Georgia #JobMarket #Economy

https://www.bloomberg.com/opinion/articles/2024-04-03/joe-biden-s-record-job-market-powers-swing-state-georgia


The Bank Run of 2023 Could Easily Happen Again
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Regulators have yet to address the system’s vulnerability to sudden depositor withdrawals. The demise of Silicon Valley Bank in March 2023 exposed weaknesses in the banking system. Depositors pulled their money faster than assumed by liquidity coverage ratio requirements. The Federal Reserve couldn't provide sufficient emergency loans due to insufficient collateral. Uninsured depositors had reason to run as they couldn't be sure of government bailouts. Regulators have focused on increasing loss-absorbing capital at large US financial institutions.

https://www.bloomberg.com/opinion/articles/2024-04-01/silicon-valley-bank-the-federal-reserve-and-bank-runs


Don’t Normalize Trump’s Threats of Violence
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Donald Trump posted a video on social media featuring an image of President Joe Biden hogtied and held hostage in the back of a pickup truck. The article argues against normalizing Trump's behavior, stating that his constant appeals to malice and division are an assault on the foundations of a civil society. The author, Timothy L. O'Brien, emphasizes that Trump's behavior should not be dismissed as mere tomfoolery, as it is more juvenile and vicious than that of an average former president.

https://www.bloomberg.com/opinion/articles/2024-04-01/don-t-normalize-trump-s-threats-of-violence


Capital One Has an Uphill Task With Regulators on Discover Deal
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Capital One's agreement to buy Discover Financial Services raises concerns about regulatory approval. Investors question the deal's likelihood of passing regulatory hurdles. Capital One's CEO, Richard Fairbank, believes they are well positioned for approval but cannot discuss conversations with regulators.

https://www.bloomberg.com/opinion/articles/2024-04-01/capital-one-has-an-uphill-task-with-regulators-on-discover-deal


Japanese Lawmaker Says US Steel Deal Would Help Counter China Risks
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Akira Amari, a senior Japanese ruling party lawmaker, believes that Nippon Steel Corp.'s acquisition of United States Steel Corp. would strengthen economic security ties between the US and Japan and help counter China's dominance in steel-making. The $14.1 billion deal is seen as a win-win for both companies and economies. President Biden has previously expressed opposition to the merger.

#UsSteel #NipponSteel #China #EconomicSecurity #Merger

https://www.bloomberg.com/news/articles/2024-04-01/japan-s-amari-says-us-steel-deal-would-help-counter-china-risks


Asian Stocks Set to Gain as Fed Awaits More Data: Markets Wrap
==========

Equity markets in Asia are expected to open higher as the Federal Reserve reiterates that it is in no rush to cut interest rates and will await more evidence of inflation control. Japanese futures contracts for the Nikkei 225 index point higher, while trading is closed in Australia and Hong Kong due to holidays.

#AsianStocks #FederalReserve #InterestRates #Inflation #Nikkei225

https://www.bloomberg.com/news/articles/2024-03-31/asian-stocks-set-to-gain-as-fed-awaits-more-data-markets-wrap


The Dollar Is More Armored Division Than Currency
==========

The dollar continues to dominate despite predictions of a tough year. Its supremacy is not solely due to interest rates. The greenback has consistently outperformed other currencies, reminding the world of the US's essential economic force. Even events that were expected to cause a pullback, such as Japan's decision to end negative interest rates, have had little impact. The Federal Reserve's projected rate cuts are unlikely to diminish the dollar's strength. This year was expected to see a decline in the dollar, but a key index of its support is off to a strong start.

https://www.bloomberg.com/opinion/articles/2024-03-31/usd-the-dollar-is-more-armored-division-than-currency


Japan Faces Risks From US, China Economies, Banking Head Says
==========

Japan's economy is at risk from price pressures from its two largest trading partners, according to Akihiro Fukutome, chairman of the Japanese Bankers Association. He identifies deflation as the threat from China and sees inflation picking up if Trump returns to office and implements his policies.

#Japan #Us #China #Economy #Banking

https://www.bloomberg.com/news/articles/2024-03-31/japan-faces-risks-from-us-china-economies-banking-head-says


We Can’t Bear to Think About Sudan and Haiti, So We Don’t
==========

Media and governments in the West pay far less attention to the suffering in Sudan than in Ukraine or Gaza. The primary reason is not racism. The scale and nature of the suffering in Sudan, like the origins and logic of the conflicts causing it, exceed comprehension. One year into the most recent outbreak of warfare, genocidal killing and famine have returned. The United Nations reports mass graves, gang rapes, people at risk of starvation, and almost 10 million displaced within the country. 1.8 million have fled to neighboring states such as Chad and South Sudan.

#Sudan #Haiti #Conflict #Genocide #Famine #Displacement

https://www.bloomberg.com/opinion/articles/2024-03-31/sudan-and-haiti-s-anarchy-are-too-messy-and-painful-for-west-to-face


AI May Turn the Economy Into a Disaster Movie
==========

AI may have both positive and negative impacts on the economy. The article discusses the potential consequences of sentient computers and AI technology. The author questions whether AI will make people rich and lazy or lead to disaster. The article mentions the date of publication as March 31, 2024. The author of the article is Tobin Harshaw, a senior editor and columnist at Bloomberg Opinion. The article reflects on AI nightmares depicted in movies and asks readers about their favorite AI nightmare. The article is available on the Bloomberg website.

https://www.bloomberg.com/opinion/articles/2024-03-31/ai-may-turn-the-economy-into-a-disaster-movie-lufgz9kg


In Baltimore, Biden Can Show How to Build Back Faster
==========

Transportation Secretary Pete Buttigieg is working on rebuilding Baltimore's Francis Scott Key Bridge, but the process is expected to be slow due to the slow pace of construction in the US. The article suggests that President Joe Biden, with his political skills, could help expedite the process and overcome the red tape that often hinders infrastructure projects.

#Baltimore #Infrastructure #Reconstruction #JoeBiden #PeteButtigieg

https://www.bloomberg.com/opinion/articles/2024-03-31/baltimore-bridge-reconstruction-can-biden-build-back-faster


Wall Street Week Votes: Presidential Effect on the Economy
==========

CEOs in the Business Roundtable have a positive outlook on the economy for the next six months based on economic fundamentals. The president can substantially affect the economy through tax code renegotiation, potential trade deals, and the regulatory environment. Business CEOs welcomed the tax cuts passed in 2017 and want to maintain a competitive tax environment. The business community is concerned about overspending and wants sensible ways to control spending. Increased tariffs, especially on Chinese products, would be highly disruptive and damage the US's prosperity and future competitiveness. The business community is disappointed with the current regulatory environment and believes government policy is undermining free enterprise. The Biden administration's regulatory approach, particularly from the Securities Exchange Commission, is a concern. The Trump administration would be preferable in terms of regulation. CEOs want improvements in regulation and antitrust policy. Joshua Bolten, Business Roundtable CEO, discusses what CEOs want from the next president.

https://www.bloomberg.com/news/videos/2024-03-29/wall-street-week-votes-presidential-effect-on-the-economy


Bullish Stocks Narrative Seen Intact After U.S. Inflation Data
==========

The Wall Street consensus that has lifted stocks to records in the first quarter remains intact despite a cooldown in the Federal Reserve's preferred gauge of underlying inflation last month. The core personal consumption expenditures price index rose 0.3% from the prior month, slowing from January's strong reading. The data suggests that while inflation has cooled, it remains higher than the Federal Reserve would like, limiting the scope for interest rate cuts this year. Fed Chair Jerome Powell said the data is what he was expecting and that it's more along the lines of what they want to see. The benchmark S&P 500 has broken its record 22 times this year, boosting US equity values by $4 trillion. Concerns arise over the mismatch between spending and income, as higher spending boosts the economy short-term but is unsustainable in the long run.

#Stocks #Inflation #FederalReserve #InterestRates #Economy

https://www.bloomberg.com/news/articles/2024-03-29/bullish-stocks-narrative-seen-as-intact-after-us-inflation-data


Powell Says Latest Inflation Data ‘In Line With Expectations’
==========

Federal Reserve Chair Powell reiterated that the US central bank isn’t in any rush to cut interest rates. He stated, 'We don’t need to be in a hurry to cut,' during an event at the San Francisco Fed. The latest inflation data is in line with expectations, and Powell believes that inflation will continue to ease on a 'sometimes bumpy' path.

#FederalReserve #InterestRates #Inflation

https://www.bloomberg.com/news/articles/2024-03-29/powell-says-latest-inflation-data-in-line-with-expectations


Stop Applying My Recession Rule to Individual States
==========

Claudia Sahm, founder of Sahm Consulting and creator of the Sahm rule, argues against applying her recession indicator to individual states. Rising unemployment rates in states like California, New York, and New Jersey may seem dire, but they actually reflect economic strength. The Sahm rule states that if the three-month average of the unemployment rate is half a percentage point or more above its low in the prior 12 months, the economy is in a recession. Some economists worry that the rising unemployment rate in several states indicates a recession is coming or already here. However, applying the Sahm rule to these states would suggest that 20 of them should be in a recession, which is not the case. These states account for over 40% of the US labor force, including California, which alone has 11%.

#Recession #Unemployment #EconomicIndicators

https://www.bloomberg.com/opinion/articles/2024-03-27/stop-applying-the-sahm-rule-recession-indicator-to-states


Elon Musk's SpaceX Sees Starlink Black Market Trade Grow Worldwide
==========

The article discusses the growth of the black market trade of SpaceX's Starlink satellite internet service worldwide. It highlights the increasing demand for affordable and reliable internet access in remote areas and the challenges faced by SpaceX in meeting this demand. The article mentions that the black market trade involves the unauthorized sale of Starlink kits and services, which are in high demand due to their superior performance compared to traditional satellite internet. It also mentions that the black market trade is driven by the limited availability of Starlink in certain regions and the long waiting list for official subscriptions. The article provides examples of countries where the black market trade is thriving, such as India, where the high cost of official subscriptions has led to a significant demand for unauthorized Starlink services. It also mentions that SpaceX is taking measures to combat the black market trade, including cracking down on unauthorized resellers and expanding its official coverage. The article concludes by highlighting the potential impact of the black market trade on SpaceX's business model and the need for regulatory measures to address the issue.

https://www.bloomberg.com/news/features/2024-03-25/elon-musk-s-spacex-sees-starlink-black-market-trade-grow-worldwide?sref=gFy8Zov9


In US Antitrust War, Bet on Brandeis Not Bork
==========

The article discusses the current antitrust war in the US and the clash between two legal giants, Louis Brandeis and Robert Bork. The Department of Justice has added Apple Inc. to the list of tech giants under scrutiny, joining Alphabet Inc. The European Union is also investigating Apple, Alphabet, and Meta Platforms. The debate revolves around the definition of monopoly in an information-based economy. Louis Brandeis, known as 'the people's lawyer,' had a significant influence on Woodrow Wilson and Franklin Delano Roosevelt. Robert Bork, a conservative Republican, was denied a seat on the Supreme Court in 1987. The clash between Brandeis and Bork represents a clash of legal minds from the 20th century.

#Antitrust #Us #DepartmentOfJustice #AppleInc #AlphabetInc #MetaPlatforms #EuropeanUnion #LouisBrandeis #RobertBork #Monopoly #InformationbasedEconomy #SupremeCourt

https://www.bloomberg.com/opinion/articles/2024-03-27/in-us-antitrust-war-bet-on-brandeis-not-bork


Germany Is Europe’s Sick Man, But Others Are Coughing
==========

Germany is experiencing economic contraction and is expected to deliver little to no growth for the year. The industrial powerhouse has been affected by subdued demand and a deglobalizing world. Other economies in the euro zone, such as the Netherlands, Ireland, and France, are also facing challenges. Trade-dependent countries like the Netherlands and Ireland are stalling, while France is experiencing meager growth despite a deficit. Anemic investment and productivity growth are tempering optimism that a recession can be avoided.

#Germany #Europe #Economy #EconomicGrowth #IndustrialPowerhouse #Demand #Deglobalization #Netherlands #Ireland #France #Recession #Investment #ProductivityGrowth

https://www.bloomberg.com/opinion/articles/2024-03-27/germany-is-europe-s-sick-man-but-italy-france-ireland-are-coughing


Andrew Left, Banned for Evergrande Warning, Now Wants an Apology
==========

Andrew Left, a prominent short-seller, is demanding an apology after being banned from Hong Kong's financial markets for five years. Left had issued a warning about the troubled Chinese property developer Evergrande in 2012, which turned out to be accurate. He believes the ban was unjust and politically motivated. Left is known for his research firm Citron Research, which publishes reports on companies it believes are overvalued or engaged in fraudulent activities. Left's ban is seen as a blow to the reputation of Hong Kong's financial markets and raises concerns about freedom of speech and the ability of short-sellers to operate in the region.

https://www.bloomberg.com/news/articles/2024-03-26/andrew-left-banned-for-evergrande-warning-now-wants-an-apology


Tim Cook's Love for China Helps Xi Fight Fears of Economic Slump
==========

The article discusses how Tim Cook's affinity for China is helping President Xi Jinping combat concerns of an economic downturn. Cook's close relationship with China has allowed Apple to navigate the country's complex regulatory environment and maintain a strong presence in the market. This has made Cook a valuable ally for Xi, who is facing pressure to stabilize the economy amid trade tensions with the United States. Cook's support for China has also drawn criticism, with some accusing Apple of prioritizing profits over human rights. The article highlights the importance of Cook's role in China and the potential impact on both Apple and the Chinese economy.

https://www.bloomberg.com/news/articles/2024-03-26/tim-cook-s-love-for-china-helps-xi-fight-fears-of-economic-slump?sref=gFy8Zov9


Burned Before, Bond Markets Resume Rate-Cutting Trades Worldwide
==========

Bond traders are cautiously reloading wagers that burned them just weeks ago as the Federal Reserve and key global peers finally appear set to begin reducing interest rates as soon as June. The prospect of lower rates is boosting the allure of shorter-dated obligations due in around five years or less. Investors are feeling a flicker of what unfolded in late-2023 when the Treasury market rallied into year-end as expectations swept global markets that policymakers would reduce rates early in 2024. Rates traders are leaning toward June as the start of the Fed easing cycle, after entering the year banking on a March kickoff. For all of 2024, they see a bit more than Fed officials’ median forecast of 75 basis points of reductions. Among the major central banks, the Bank of Japan stands apart, with economists projecting it will lift rates again later this year, after scrapping its easing program last week.

#BondMarkets #InterestRates #FederalReserve #GlobalPeers #RatecuttingTrades

https://www.bloomberg.com/news/articles/2024-03-24/burned-before-bond-markets-resume-rate-cutting-trades-worldwide


US Inflation Gauge Seen Bolstering Fed Patience on Rates
==========

The core personal consumption expenditures, which excludes food and energy costs, is seen rising 0.3% in February, following its biggest monthly increase in a year. The inflation gauge is forecast to climb 0.4%, the most since September. These high inflation readings indicate why the Federal Reserve is cautious about cutting interest rates too soon.

#UsInflation #FederalReserve #InterestRates

https://www.bloomberg.com/news/articles/2024-03-23/eco-week-ahead-us-nflation-gauge-seen-bolstering-fed-patience


America Is Down to Its Last 100 Cotton Mills
==========

Many of the US's remaining textile factories that turn cotton fibers into yarn and fabric are shutting down for good. The Chicago World's Fair in 1893 showcased the growth and prowess of the US textile industry, with over 60 cotton-specific manufacturers. The US is now left with only 100 cotton mills. Export markets remain the last hope for farmers.

#UsCottonMills #TextileIndustry #CottonFibers #Yarn #Fabric #ExportMarkets #Farmers

https://www.bloomberg.com/news/articles/2024-03-23/us-cotton-mills-are-closing-export-markets-remain-farmers-last-hope


UK In Grip Of Worst Health-Related Work Crisis Since 1990s
==========

Britain is facing a £16 billion ($20.1 billion) annual bill to cover the rising cost of disability benefits over the next five years as the country grapples with the longest sustained rise in health-related inactivity since the 1990s. The UK is experiencing a unique employment crisis, with 600,000 more working-age Britons than before the pandemic neither in work nor looking for a job due to ill health. The lack of available workers has become one of the most pressing economic issues in the country. The problems appear to be concentrated among the young (aged 16 to 24) and the old (aged 55-64), with the middle-aged groups seemingly unaffected. Spending on disability benefits is forecasted to rise by £16.1 billion to £52.2 billion between 2023-24 and 2028-29, a 45% increase. The trend reflects older workers being more likely to experience ill-health, and a recent trend of deteriorating health among young people. Health-related inactivity is likely to remain a major challenge for years to come.

#Uk #Employment #DisabilityBenefits #HealthrelatedInactivity #Economy

https://www.bloomberg.com/news/articles/2024-03-23/uk-in-grip-of-worst-health-related-work-crisis-since-1990s


ADB Chief Economist on BOJ, Asia Economy
==========

Albert Park, Chief Economist at the Asian Development Bank, discusses his outlook for Asia's economic growth and Bank of Japan monetary policy. He expects Asia's recovery from the pandemic to continue to be robust. Central banks in Asia have been holding tight and waiting for the Federal Reserve to move first before easing further. The Fed's interest rate decisions are important for Asia, as a half percent higher inflation than expected this year and no interest rate cuts from the US and European Central Banks could increase inflation in Asia by about 0.15 percentage points. Geopolitical tensions and conflicts globally, including the tension between the US and China, pose risks to inflation. The disruption in the Red Sea has affected shipping costs and increased inflation in the region by 0.2 percentage points. The relationship between the US and China is expected to ease this year, and the Biden administration does not want to escalate tensions. Stagflation fears in China may be overdone, as core inflation has remained positive and inflation in China is expected to be above 1% this year. FDI into China has declined, but some strategic sector investment is moving to other parts of Asia, especially Southeast Asia. Policymakers in Beijing are trying to balance a soft landing in the property sector while avoiding an economic collapse. The Bank of Japan is considering a rate hike, and Governor Way has signaled a desire to move away from negative interest rates. Wage increases in Japan could pass through to households and support economic growth. Albert Park is optimistic about Japan's post-pandemic recovery and hopes that higher wage increases will give consumers more confidence to continue spending.

#Adb #ChiefEconomist #BankOfJapan #AsiaEconomy #Inflation #CentralBanks #FederalReserve #GeopoliticalTensions #China #Fdi #PropertySector #WageIncreases

https://www.bloomberg.com/news/videos/2024-03-18/adb-chief-economist-on-boj-asia-economy-video


Japan CEOs See Higher Prices, Wages With BOJ Move ‘Just a Matter of Time’
==========

Japan's chief executives are preparing for the Bank of Japan (BOJ) to end its negative interest rate policy, which is expected to happen within weeks or even days. CEOs believe that higher prices and wages are imminent once the BOJ returns to a normal situation. Inflation in Japan is holding near the BOJ's target of 2%, and unions have secured significant wage hikes, indicating that the economy is ready for the end of ultra-loose monetary policy. Some executives have already experienced or anticipate higher borrowing costs, and a majority of central bank watchers predict that negative rates will end in April. The yen has been gaining against the dollar in anticipation of a rate hike, which could reduce profits for exporters but ease the burden for retailers that procure materials overseas. Overall, CEOs are optimistic that the end of negative rates will lead to increased consumption and a normalization of Japanese inflation and the economy.

#BankOfJapan #JapaneseEconomy #Inflation #Wages #InterestRates

https://www.bloomberg.com/news/articles/2024-03-17/japan-ceos-see-higher-prices-wages-with-boj-move-just-a-matter-of-time


BOE Rate Decision and Tories’ Misery Index: Sunday UK Briefing
==========

The Bank of England (BOE) is set to make its rate decision this week, with rates expected to be kept unchanged. The UK's CPI rate is also expected to decline, with February's year-on-year headline print estimated at 3.5%. The date of the national election in the UK is still uncertain, but Prime Minister Rishi Sunak is looking to time it for the best possible economic news. Meanwhile, Russian President Vladimir Putin is expected to win a new six-year term in the upcoming election. Sainsbury and Tesco, two major UK grocery chains, experienced technical issues that affected their online orders. In the tennis world, the BNP Paribas Open is taking place in California, with Iga Swiatek and Maria Sakkari competing in the women's finals. Lastly, a deep-dive investigation reveals how Indigenous people in the Peruvian Andes produce high-quality wool for luxury fashion brands while being paid very little.

#BankOfEngland #Boe #RateDecision #Inflation #UkElection #RishiSunak #VladimirPutin #Sainsbury #Tesco #Tennis #BnpParibasOpen #IndigenousWoolProduction

https://www.bloomberg.com/news/articles/2024-03-17/boe-rate-decision-and-tories-misery-index-sunday-uk-briefing


Wall Street Doom Prophesy Falls Flat on Hottest Rally Since 2016
==========

In late 2023, Wall Street worrywarts predicted that the biggest financial markets were heading into a doom scenario. However, after a strong fourth-quarter rally, the fate of the S&P 500 rested on just seven companies with uncertain earnings prospects. Hedge-fund trades were also posing a threat to the market. Despite these concerns, major assets are experiencing synchronized gains and the credit supercycle is continuing. The article highlights that the last few years of market performance have proven unkind to pundits.

https://www.bloomberg.com/news/articles/2024-03-15/wall-street-doom-prophesy-falls-flat-on-hottest-rally-since-2016


Alexander Hamilton and the Birth of US Industrial Policy
==========

Alexander Hamilton, known as an architect of the federal system, was also an early advocate for state-directed investment to build a domestic manufacturing industry. This lesser-known aspect of his vision is explored in an interview with Christian Parenti, a professor at John Jay College and author of Radical Hamilton: Economic Lessons from a Misunderstood Founder. The interview discusses the economic context in which Hamilton developed this vision and its relevance to current efforts to build domestic manufacturing capacity in the US.

#AlexanderHamilton #UsIndustrialPolicy #State-directedInvestment #DomesticManufacturingIndustry

https://www.bloomberg.com/news/articles/2024-03-15/transcript-alexander-hamilton-and-the-birth-of-us-industrial-policy


High Hopes for Yen Rally This Year Give Way to Talk of Slim Gain
==========

Strategists have slashed estimates for yen strength this year. Expectations for the yen to outperform its peers this year have all but evaporated, with strategists now forecasting the currency to end 2024 within a few percent of where it started. Gains in the yen seen this month as the prepares to end negative interest rates come after a 6% slump versus the dollar in January-February. Investors are excited by the prospect of a shift in Japan’s rate policy as soon as next week, but wary of the strength in the US economy and the likelihood that the yield gap between the two countries will remain wide.

#Yen #Currency #RatePolicy #Economy

https://www.bloomberg.com/news/articles/2024-03-14/high-hopes-for-yen-rally-this-year-give-way-to-talk-of-slim-gain


TikTok Plans Full Legal Fight If U.S. Divestment Bill Becomes Law
==========

TikTok is prepared to engage in a full legal battle if a U.S. divestment bill becomes law. The bill, which aims to force TikTok's parent company, ByteDance, to sell its U.S. operations, has been introduced in Congress. TikTok has faced scrutiny from U.S. lawmakers over concerns about data privacy and national security. The company has repeatedly denied allegations that it poses a threat to U.S. national security. If the divestment bill is passed, TikTok plans to challenge it in court. The company believes that it has been unfairly targeted and that the bill violates its rights. TikTok has already filed a lawsuit against the U.S. government over a separate executive order that sought to ban the app. The case is currently pending in court. TikTok's legal battle comes as the company continues to face regulatory challenges around the world. The app has been banned in India and is also facing scrutiny in other countries, including Australia and the United Kingdom.

https://www.bloomberg.com/news/articles/2024-03-12/tiktok-plans-full-legal-fight-if-us-divestment-bill-becomes-law?utm_source=website&utm_medium=share&utm_campaign=twitter?sref=6ZE6q2XR


UK Signs Trade Pact With Texas in Effort to Boost Green Industry
==========

The UK has signed a new trade pact with Texas, the second-largest state in the US, in an effort to boost cooperation in green energy, aerospace, and advanced technologies. This non-binding memorandum of understanding is the eighth signed between the UK and a US state since Britain's departure from the EU, bringing the total combined gross domestic product of those states to £5.3 trillion ($6.8 trillion), which is a quarter of the US economy.

#Uk #Texas #TradePact #GreenIndustry #Cooperation #Aerospace #AdvancedTechnologies

https://www.bloomberg.com/news/articles/2024-03-13/uk-signs-trade-pact-with-texas-in-effort-to-boost-green-industry


Biden Budget Showcases Looming US Tax Battle
==========

Competing Democratic and Republican fiscal plans presented in Washington in recent days showcased how US tax policy will be a key battle line in the November elections.

https://www.bloomberg.com/news/newsletters/2024-03-12/world-economy-latest-tax-battle


Momentum Shifting Toward Russia in Ukraine War, U.S. Spies Warn
==========

The article discusses how U.S. intelligence agencies have warned that the momentum in the Ukraine war is shifting in favor of Russia. The warning comes as Russian forces continue to advance into Ukraine, capturing key cities and territories. The U.S. intelligence community has observed that Russia's military capabilities and tactics have given them an advantage, allowing them to outmaneuver and overpower Ukrainian forces. The article highlights that this shift in momentum has significant implications for the ongoing conflict and raises concerns about the potential for further escalation. The U.S. and its allies are closely monitoring the situation and considering their response options. The article does not provide specific names, numbers, or dates related to the warning from U.S. spies or the captured cities and territories.

https://www.bloomberg.com/news/articles/2024-03-11/momentum-shifting-toward-russia-in-ukraine-war-us-spies-warn?srnd=undefined


US Trade Deficit Widens to Largest Since April on Higher Imports
==========

The US trade deficit widened in January by 5.1% to $67.4 billion, the largest since April, driven by a pickup in the value of imports while exports were little changed, according to the Commerce Department. The value of imports rose 1.1% to the highest level in a year, led by capital goods and motor vehicles, while exports edged up 0.1%. The merchandise trade deficit, adjusted for inflation, increased to a three-month high of $86 billion in January. The outlook for trade is marked by various cross currents, including the progress companies made last year in getting inventories more in line with sales, which could lead to a pickup in demand for imports, and sluggish overseas economies that risk restraining US sales to overseas customers even as the dollar retreats from last year's high.

#UsTradeDeficit #Imports #Exports #CommerceDepartment

https://www.bloomberg.com/news/articles/2024-03-07/us-trade-deficit-widens-to-largest-since-april-on-higher-imports


China Spurns Ukraine Diplomats at Home, Undermining Peace Push
==========

China has rejected Ukraine's request to send diplomats to Beijing, undermining peace efforts. The rejection comes as Ukraine seeks international support in its conflict with Russia. China's move is seen as a signal of support for Russia. The rejection also highlights China's growing influence in global affairs. The incident occurred on March 5, 2024. The article is from Bloomberg.

https://www.bloomberg.com/news/articles/2024-03-05/china-spurns-ukraine-diplomats-at-home-undermining-peace-push?srnd=homepage-asia


Brazil’s Economy Stalls at End of 2023 in Worrying Sign for Lula
==========

Brazil’s economy stagnated in the fourth quarter of 2023, ending a year of robust growth with a fizzle and foreshadowing the challenges ahead for President Luiz Inacio Lula da Silva. Official data released Friday showed gross domestic product was flat in the October-December period compared to the prior quarter, below the 0.1% median estimate from analysts surveyed by Bloomberg. Brazil’s GDP expanded 2.9% for the full-year 2023. The 2023 expansion was due in large part to a so-called super harvest — record-setting crops of corn and soy beans — that propelled growth in this resource-rich nation despite high borrowing costs. A tight labor market and government aid, which expanded since Lula returned to office last January, also boosted consumption. The combined effect resulted in a far better performance than economists had predicted the start of the year, and improved the president’s political fortunes along with it. The 78-year-old leftist staked his term on helping the poor and improving living conditions. That agenda becomes all the more challenging now that a slowdown seems eminent in Latin America’s largest economy. Unfavorable weather conditions caused by El Nino are already buffeting Brazil’s agriculture sector. And the central bank has committed to only gradually lowering the key interest rate, now at 11.25%, amid lingering price pressures. Concern is mounting within financial circles that Lula may try to offset the drop off in growth through greater state spending despite limited budget space for maneuver.

#Brazil #Economy #Gdp #Lula #Growth

https://www.bloomberg.com/news/articles/2024-03-01/brazil-s-economy-stalls-at-end-of-2023-in-worrying-sign-for-lula


US Envoy Warns Hong Kong Is Moving to China-Style Internet Curbs
==========

US Consul General Gregory May warns that Hong Kong is starting to implement internet censorship and block certain websites, raising concerns about the city's diminishing appeal as a global finance hub. May highlights the government's campaign to remove certain content from the internet and block access to websites, citing data security concerns and connectivity issues. He calls on the Hong Kong government to reassure businesses that it is committed to a free and open internet and business-friendly data controls. May also emphasizes the importance of releasing pro-democracy activists facing jail for political expression to improve Hong Kong's image. The US has sanctioned Hong Kong's leader John Lee over Beijing's clampdown on dissent, and Congress has passed a bill that could shut down Hong Kong's economic and trade offices in the US if the city is not deemed significantly autonomous from Beijing. May believes that Hong Kong still retains important business advantages but warns that American companies could face blowback at home due to the city's clampdown on dissent.

#HongKong #InternetCensorship #DataSecurity #Us-chinaRelations #Business

https://www.bloomberg.com/news/articles/2024-03-01/us-envoy-warns-hong-kong-is-moving-to-china-style-internet-curbs


Chinese Chipmaker Cleared in US Criminal Trade Secrets Case
==========

A Chinese chipmaker has been cleared in a US criminal trade secrets case. The case involved allegations that the chipmaker stole trade secrets from a US company. The chipmaker was accused of stealing technology related to memory chips. The US government had sought to extradite the chipmaker's CEO from China. However, the Chinese government refused to extradite the CEO. The case has strained US-China relations. The chipmaker's clearance in the case is seen as a win for China's tech industry. The chipmaker plans to continue its expansion in the global market.

https://www.bloomberg.com/news/articles/2024-02-27/chinese-chipmaker-cleared-in-us-criminal-trade-secrets-case


High Interest Rates Show Downside of Relying Heavily on US Dollar
==========

The article discusses the negative impact of relying heavily on the US dollar and high interest rates. It highlights the risks faced by countries that have a significant dependence on the US dollar, such as Argentina and Turkey. The article mentions that these countries are experiencing economic turmoil due to the high interest rates set by the US Federal Reserve. It also discusses the potential consequences of this reliance, including currency devaluation, inflation, and economic instability. The article emphasizes the need for diversification and reducing dependence on the US dollar to mitigate these risks.

https://www.bloomberg.com/news/articles/2024-02-21/high-interest-rates-show-downside-of-relying-heavily-on-us-dollar?srnd=premium


Bloomberg - Are you a robot?
==========

The article discusses the detection of unusual activity from a computer network and the need to confirm that the user is not a robot. It provides instructions to click a box to proceed and mentions the importance of browser support for JavaScript and cookies. The article also mentions the availability of support from the Bloomberg team for inquiries related to the message. The content includes a block reference ID and a link to a Bloomberg article about the 2024 EV battery supply chain alternatives.

https://www.bloomberg.com/graphics/2024-ev-battery-supply-chain-alternatives/?utm_source=twitter&utm_campaign=socialflow-organic&utm_content=business&cmpid=socialflow-twitter-business&utm_medium=social&sref=pKfngeVk


China Freezes Accounts of Quant Fund After It Dumped Stocks
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China has frozen the accounts of a quantitative fund after it dumped stocks. The fund, called the Quantitative Investment Management, is facing scrutiny from Chinese regulators. The move comes as China tightens its grip on the financial sector and cracks down on market manipulation. The freezing of the fund's accounts is seen as a warning to other investors. The fund's actions have raised concerns about the stability of China's stock market. The fund's dumping of stocks has led to a sharp decline in the Chinese stock market. Chinese regulators are investigating the fund's activities and are considering taking further action. The freezing of the fund's accounts is part of a broader crackdown on financial risks in China. The fund's dumping of stocks is seen as a violation of market rules. The freezing of the fund's accounts is a significant development in China's efforts to regulate its financial markets.

#China #QuantitativeFund #StockMarket #Regulation #FinancialMarkets

https://www.bloomberg.com/news/articles/2024-02-20/china-freezes-accounts-of-quant-fund-after-it-dumped-stocks?utm_source=website&utm_medium=share&utm_campaign=twitter?sref=6ZE6q2XR


Record U.S. Stock Rally Is Under Threat From a World in Turmoil
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The article discusses the potential threats to the record U.S. stock rally due to global turmoil. It highlights the concerns surrounding the impact of the coronavirus outbreak, geopolitical tensions, and inflation fears. The article mentions that the S&P 500 has experienced a remarkable rally, but experts warn that the market may face headwinds in the near future. It also mentions the Federal Reserve's role in managing the potential risks and the importance of monitoring economic indicators. The article provides insights from market analysts and investors regarding the potential risks and strategies for navigating the uncertain market conditions.

https://www.bloomberg.com/news/articles/2024-02-18/record-us-stock-rally-is-under-threat-from-a-world-in-turmoil


China's Economic Pain May Help Powell's Fed Rate Cuts
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China's economic slowdown may provide justification for Federal Reserve Chairman Jerome Powell to implement rate cuts. The article discusses how China's economic struggles, including a decline in manufacturing and exports, could have a ripple effect on the global economy. The author suggests that Powell may use this as an opportunity to lower interest rates in order to stimulate the U.S. economy and mitigate the impact of China's slowdown. The article also mentions the ongoing trade tensions between the U.S. and China, and how they contribute to the economic challenges faced by both countries. Overall, the article explores the potential implications of China's economic pain on the Federal Reserve's monetary policy decisions.

https://www.bloomberg.com/opinion/articles/2024-02-18/china-s-economic-pain-may-help-powell-s-fed-rate-cuts


Analysis of US CPI Report for January
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The US CPI report for January is expected to show that inflation continued its [trend] in January. CPI in December advanced 0.2%. Economists will be looking closely at the [breakdown] of inflation, particularly goods versus services. The trend has been a softening in goods while services prices have been stickier. The report should also show rent costs beginning to soften, reflecting market data.

https://www.bloomberg.com/news/live-blog/2024-02-13/us-cpi-report-for-january


Apollo’s Zelter Sees Pockets of Stress Amid Resilient US Economy
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Apollo Global Management Inc. CEO, Marc Zelter, sees pockets of stress among corporate borrowers in the US economy despite its overall strength. Zelter mentioned that some companies still have a poor business plan, excessive debt, or have not fully recovered from the impact of Covid-19. He made these comments in an interview on Bloomberg Television.

#ApolloGlobalManagementInc. #MarcZelter #UsEconomy #CorporateBorrowers #Stress

https://www.bloomberg.com/news/articles/2024-02-13/apollo-s-zelter-sees-pockets-of-stress-amid-resilient-us-economy


US Yields to Climb Further Over Coming Weeks: MLIV Chat
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According to a chat on MLIV, US yields are expected to climb further over the coming weeks. The chat suggests that the 10-year yield could rise by another 20 or 30 basis points, and that the whole yield curve has room to rise. The strong US economy is seen as the main driver behind the rising yields. The chat also discusses the potential impact on equity markets, stating that the current backdrop of a strong economy is generally positive for stocks, but higher yields could eventually squeeze the economy and lead to a downturn in equities. The chat also briefly mentions the Swiss National Bank and its need to take action to weaken the Swiss franc due to the country's lack of inflation and currency strength.

#UsYields #MlivChat #EquityMarkets #SwissNationalBank

https://www.bloomberg.com/news/videos/2024-02-13/us-yields-to-climb-further-over-coming-weeks-mliv-chat-video


Asia Stocks to Rise, Treasuries Steady Before CPI: Markets Wrap
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European equity futures declined before crucial US inflation data later Tuesday that may offer more clarity on the timing of the Federal Reserve’s interest rate cuts. The Euro Stoxx 50 contract fell 0.3%, mirroring losses in US counterparts. The yen and the dollar were steady in Asia ahead of the inflation data release. The report is expected to show the first reading below 3% for year-over-year headline inflation since March 2021, supporting the disinflation narrative.

#StockMarket #Inflation #FederalReserve

https://www.bloomberg.com/news/articles/2024-02-12/stock-market-today-dow-s-p-live-updates


FrontView REIT Working With Advisers on IPO This Year
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FrontView REIT, a landlord targeting 'e-commerce resistant' tenants, is considering an initial public offering (IPO) for this year. The Dallas-based company, formerly known as NADG NNN, is working with underwriters including JPMorgan Chase & Co. and Bank of America Corp. on the potential IPO. FrontView's portfolio includes properties in high-traffic locations and tenants such as Starbucks, Walgreens, Chipotle, Rite Aid, and Wells Fargo. The company is led by Executive Chairman Stephen Preston and CEO Randall Star. Triple net lease REITs have underperformed the broader market in the past year.

#FrontviewReit #Ipo #RealEstate #Underwriters #JpmorganChase #BankOfAmerica #TripleNetLeaseReits

https://www.bloomberg.com/news/articles/2024-02-12/frontview-reit-is-said-to-work-with-advisers-on-ipo-this-year


Ukraine Aid Debate Obscures Looming Spending Fight, Shutdown Risk
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The article discusses the Ukraine aid debate and its impact on the looming spending fight and the risk of a government shutdown. Congressional correspondent Erik Wasson highlights the next big hurdle for lawmakers and mentions the possibility of a US government shutdown. The article emphasizes the need to start discussing the potential shutdown again.

#UsGovernmentShutdown #UkraineAidDebate #SpendingFight

https://www.bloomberg.com/news/newsletters/2024-02-12/ukraine-aid-debate-obscures-looming-spending-fight-shutdown-risk


Surveillance: HSBC’s Kettner Sees Shock Potential in CPI Report
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HSBC's Kettner warns that the US inflation report has the potential to shock markets. The report on the US consumer price index (CPI) is an important milestone for the Federal Reserve's efforts to slow down inflation. The report is scheduled to be released tomorrow. Kettner believes that even a small indication of less-dovish data could spook the markets.

https://www.bloomberg.com/news/newsletters/2024-02-12/us-inflation-report-holds-the-potential-to-shock-markets-hsbc-s-kettner-says


Six Years After Volmageddon, Volatility Fears Resurface in US Stocks
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Six years after a famous blowup in the volatility market shattered a lengthy calm in US stocks, Wall Street is growing concerned over a new boom in trades that bet against equity turbulence. Billions of dollars are pouring into strategies that seek to juice returns by selling options.

https://www.bloomberg.com/news/articles/2024-02-12/us-stock-market-volatility-bets-trigger-fears-like-volmageddon


Uber Raises Expectations for the Gig Economy
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Uber's earnings report boosts expectations for the gig economy ahead of Lyft and DoorDash results. Lyft and DoorDash are set to report their financial results this week. Uber's earnings report indicates positive growth in the gig economy. The article highlights the significance of Uber's performance in shaping expectations for other gig economy companies. The gig economy refers to a labor market characterized by short-term contracts and freelance work. Uber's strong earnings report suggests a positive outlook for the gig economy as a whole. Lyft and DoorDash's upcoming financial results will provide further insight into the state of the gig economy.

https://www.bloomberg.com/news/newsletters/2024-02-12/uber-earnings-boost-gig-economy-ahead-of-lyft-and-doordash-results


How a Second Trump Administration Could Upend US-China Relations
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Donald Trump campaigned on a platform that included a harsher stance toward trade with China. The Biden administration has continued the Trump tariff regime and enacted more stringent restrictions targeting China's use of technology. Trump is suggesting even higher tariffs of 60% or more on Chinese goods. The impact of these potential tariffs on the US economy and global trade is analyzed in this episode. It explores whether it would lead to higher prices for Americans, a slowing of the economy, increased domestic manufacturing, or more imports from other countries.

#Us-chinaRelations #TradeTariffs #DonaldTrump #BidenAdministration #GlobalTrade #UsEconomy #Inflation #DomesticManufacturing

https://www.bloomberg.com/news/articles/2024-02-12/how-a-second-trump-administration-could-upend-us-china-relations


Australian Bonds Fall Ahead of US Inflation Data: Markets Wrap
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Australian and New Zealand bonds fell ahead of US inflation data this week. The two nations’ 10-year yields climbed three basis points in early trading Monday. US inflation data due Tuesday will be crucial for the Federal Reserve. Headline year-over-year inflation is expected to come in at 2.9%. Core inflation is set to ease fractionally lower to 3.7% on an annual basis. The S&P 500 closed above 5,000 index points for the first time. The yen is the worst performer among Group of 10 currencies this year. Oil prices rose Friday, capping five days of consecutive increases for the price of West Texas Intermediate. In Asia, data set for release includes inflation and industrial output reports for India.

#AustralianBonds #UsInflationData #FederalReserve #S&p500 #Yen #OilPrices #India

https://www.bloomberg.com/news/articles/2024-02-11/australian-bonds-fall-ahead-of-us-inflation-data-markets-wrap


In Trump-Biden Rematch, the Only Sure Loser Is China
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In a potential Trump-Biden 2024 election rematch, Trump is proposing a 60% tariff on all Chinese imports, which would significantly reduce the $575 billion trade pipeline between the US and China. Trump has other escalations in mind if he wins the election. The article suggests that China would be the only sure loser in this scenario.

https://www.bloomberg.com/news/features/2024-02-12/trump-biden-2024-election-rematch-promises-economic-pain-for-china


Trump Says There’s ‘No Way’ Taylor Swift Can Endorse Biden
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Former President Trump says there’s 'no way' Taylor Swift can endorse President Biden for re-election, claiming she could not be 'disloyal to the man who made her so much money.' Trump stated that he signed and was responsible for the Music Modernization Act for Taylor Swift and all other musical artists, while Joe Biden didn't do anything for her and never will.

https://www.bloomberg.com/news/articles/2024-02-11/trump-says-there-s-no-way-taylor-swift-can-endorse-biden


CPI, Super Bowl and Gym Fatigue: Sunday US Briefing
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US inflation likely continued to slow at the start of the year, with the core consumer price index (CPI) falling below 3% for the first time in nearly two years. Economists forecast Tuesday's report to show the CPI ticking closer to the 2% target. The Federal Reserve is expected to start lowering interest rates soon, but not likely in March.

#UsInflation #Cpi #InterestRates #FederalReserve #SuperBowl

https://www.bloomberg.com/news/articles/2024-02-11/cpi-super-bowl-and-gym-fatigue-sunday-us-briefing


Biden’s Age Haunts His Appearances — and the Election
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President Joe Biden's age and memory issues are becoming a concern for voters. During a press conference, Biden mistakenly referred to Egyptian President Abdel Fattah al-Sisi as the 'president of Mexico.' Democrats and the White House need to address these concerns.

https://www.bloomberg.com/opinion/articles/2024-02-11/democrats-can-t-ignore-voter-concerns-about-biden-s-age-any-longer


Biden Calls S&P 500 Record a ‘Sign of Confidence’ in US Economy
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US President Joe Biden touted the S&P 500 index's record high as a sign of US economic strength. The S&P 500 topped 5,000 for the first time on Friday, spurred by big-tech stocks and speculation that the Federal Reserve will cut interest rates soon. Biden's comment comes after a tough week in his reelection bid that focused attention on his age and mental acuity. A special counsel's report said the 81-year-old president showed 'diminished faculties and faulty memory.'

#UsEconomy #S&p500 #JoeBiden

https://www.bloomberg.com/news/articles/2024-02-10/biden-calls-s-p-500-record-a-sign-of-confidence-in-us-economy


Brazil Should Resist the NFL’s Dreams of Global Domination
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The National Football League (NFL) will open its next season with a game in São Paulo, Brazil, marking the first time the league will hold a match in South America. The NFL plans to expand globally and aims to have up to eight international matches per season starting in 2025. However, the choice of Brazil as a new market for the NFL has been met with resistance, as the country is known as the global spiritual home of soccer. Brazil, with its unrivaled five-time world champions and passionate soccer fans, may not be willing to cede a piece of its sport business pie to Americans who play football with their hands.

#Nfl #GlobalExpansion #Brazil #Soccer #Football

https://www.bloomberg.com/opinion/articles/2024-02-10/brazil-should-resist-the-nfl-s-dreams-of-global-domination


For South Africa’s Economy, the Only Way Now Is Up
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South Africa's economy has been impacted by a decade of mismanagement, resulting in power cuts, dysfunctional ports, and stranded exports. The ruling party's reliance on the state to provide services and operate infrastructure is shifting, as voter disgust grows. This may lead to a sea-change in attitudes and a move towards a new approach to governance.

https://www.bloomberg.com/news/newsletters/2024-02-10/bloomberg-new-economy-for-south-africa-s-economy-the-only-way-now-is-up


Surveillance: TPW's Pelosky Eyes a ‘Magnificent 6’ to Rival US Tech
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Jay Pelosky, from TPW, identifies ASML as part of Europe's 'Magnificent 6' to rival US Big Tech. The biggest US technology companies are currently dominating global business and generating significant profits.

https://www.bloomberg.com/news/newsletters/2024-02-09/big-tech-stocks-have-a-rival-in-europe-s-magnificent-6


US CPI Response Rate Stays Weak, Raising Questions on Data
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The consumer price index (CPI) response rate in the US remained weak at 71% in 2023, raising concerns about the accuracy of the inflation data. The Bureau of Labor Statistics reported that the share of completed surveys used in the CPI estimation has been increasing in recent years but is still below the pre-pandemic trend of nearly 80%.

#UsCpi #ResponseRate #Accuracy #InflationData

https://www.bloomberg.com/news/articles/2024-02-09/us-cpi-response-rate-stays-weak-questioning-accuracy-of-data


Dow 5,000 Rang in ’90s Boom. What About S&P 5,000?
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The article discusses the recent climb of the S&P 500 Index above 5,000 and compares it to the Dow Jones Industrial Average crossing the same threshold in the 1990s. It raises the question of whether the current market is a bubble or a durable new bull. The author mentions the previous 'soft landing' economy in 1995 that pushed the Dow Jones Industrial Average above 5,000 and resulted in a 25% annualized return over the rest of the decade. However, it also notes the stock market collapse in 1999. The article concludes that it is difficult to determine the nature of the current market.

#StockMarket #S&p500 #DowJonesIndustrialAverage #Bubble #BullMarket

https://www.bloomberg.com/opinion/articles/2024-02-09/dow-5-000-rang-in-90s-boom-what-about-s-p-5-000


AI Blows Chill Wind of Job Losses Through Paris
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The chill wind of layoffs in technology and finance is blowing through Paris this week. Payment processing firm Worldline is cutting about 1,400 jobs, while banking group Societe Generale SA is making 900 cuts at its head office.

#Ai #JobLosses #Paris #Technology #Finance

https://www.bloomberg.com/news/newsletters/2024-02-09/france-s-ai-push-under-scrutiny-as-job-layoffs-mount


Insisting on US Crude for the SPR Is Misguided
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The article discusses America's strategy of refilling the Strategic Petroleum Reserve (SPR) with US crude oil. The author argues that this strategy is misguided. Domestic shale output is considered the least likely source of supply to be disrupted. The article suggests that diversifying the sources of supply for the SPR would be a more effective strategy.

https://www.bloomberg.com/news/newsletters/2024-02-09/america-s-insistence-on-us-crude-oil-for-spr-is-misguided


It's Time to Talk About Those Taylor Swift Super Bowl Bets
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You can bet on the outcome of the Super Bowl LVIII coin toss and the color of the Gatorade dumped over the winning team's coach. This year, the romance between Taylor Swift and Chiefs tight end Travis Kelce has added a twist to the prop bets.

#SuperBowl #PropBets #TaylorSwift #TravisKelce

https://www.bloomberg.com/news/articles/2024-02-09/taylor-swift-travis-kelce-add-a-twist-to-super-bowl-prop-bets


India Relaxed About OPEC+ Cutting Oil Output, Minister Says
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India's oil minister, Hardeep Singh Puri, stated that the country is not concerned about OPEC+'s output cuts and Saudi Arabia's decision not to expand production capacity. Puri mentioned that there is enough oil in the world and new suppliers are emerging. He made these comments during India Energy Week in Goa.

#India #Opec+ #OilOutput #HardeepSinghPuri

https://www.bloomberg.com/news/articles/2024-02-09/india-relaxed-about-opec-cutting-oil-output-minister-says


Billionaires From Europe’s East Are Making Their Mark in West
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The fall of the Iron Curtain opened the floodgates for western investment in post-communist economies. As the east became richer, a new generation of super wealthy individuals and families emerged, now investing their money in the west. Czech businessman Daniel Kretinsky has bought a stake in London football club West Ham United.

#EasternEurope #Billionaires #Investment #Post-communistEconomies #DanielKretinsky #WestHamUnited

https://www.bloomberg.com/news/newsletters/2024-02-09/eastern-europe-s-billionaires-make-their-mark-in-the-west


Five Things You Need to Know to Start Your Day: Europe
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Investors snapped up $25 billion of 30-year Treasury bonds at a lower-than-anticipated yield, following a $42 billion sale of 10-year notes. This indicates investor confidence in the Federal Reserve eventually cutting interest rates. Wall Street grows nervous about inflation revisions. Ueda says BOJ to keep policy easy. BOJ policy is expected to remain easy in the post-negative rate era. Peru extends key rate cuts after positive inflation surprise. Fast Retailing's stock jumps 48% on global push. Nissan shares drop as earnings miss estimates. X to launch weekly series with WWE. SoftBank set for biggest two-day rally since 2020. Cloudflare soars after quarterly sales and profit top expectations. Google rebrands Bard Chatbot as Gemini in race with OpenAI. AI startup snags $50 million to speed up clinical research. OpenAI's secret weapon is Sam Altman's 33-year-old lieutenant. Lagging fertility rate means diapers aren't just for babies anymore. A tiny fund takes a big short on corporate debt maturity wall. Bitcoin hovers near one-month high on ETF inflows and looming halving.

#Investors #TreasuryBonds #FederalReserve #InterestRates #InflationRevisions #BojPolicy #Peru #FastRetailing #Nissan #X #Softbank #Cloudflare #Google #Openai #AiStartup #FertilityRate #Bitcoin

https://www.bloomberg.com/news/newsletters/2024-02-09/stock-markets-today-treasury-auctions-cpi-revision-boj-policy-uk-equities


Exxon Mobil to Exit Equatorial Guinea After Nearly Three Decades
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Exxon Mobil plans to leave Equatorial Guinea within months, marking an end to almost three decades of oil drilling. The company will transfer investments to the government during the second quarter. Equatorial Guinea is OPEC's smallest producer as output falls.

#ExxonMobil #EquatorialGuinea #OilDrilling #Opec

https://www.bloomberg.com/news/articles/2024-02-08/exxon-mobil-to-exit-equatorial-guinea-after-nearly-three-decades


Big Take DC: The Tiny Mighty Sanctions Office
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America's use of sanctions has grown by almost 1,000% since 9/11. The article discusses the Office of Foreign Assets Control (OFAC) and why Congress isn't providing it with more resources. Host Saleha Mohsin interviews John Smith, a former director of OFAC, and National Security editor Nick Wadhams. The podcast episode was released on February 8, 2024.

https://www.bloomberg.com/news/audio/2024-02-08/big-take-dc-the-tiny-mighty-sanctions-office-podcast


Sam Altman’s Secret (Human) Weapon
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Brad Lightcap, a 33-year-old lieutenant of Sam Altman, is OpenAI's secret weapon in the news business. OpenAI is using its language model, ChatGPT, to forge alliances with news organizations. The goal is to improve the quality of news articles and combat misinformation. OpenAI is working with Bloomberg to integrate ChatGPT into its newsroom. The partnership aims to assist journalists in fact-checking, generating story ideas, and improving the overall writing process. OpenAI is also exploring partnerships with other news organizations to expand the use of ChatGPT in the industry. Sam Altman, the CEO of OpenAI, believes that AI can be a valuable tool for journalists and can help address the challenges faced by the news industry.

#Openai #BradLightcap #Chatgpt #NewsBusiness #Journalism #Bloomberg

https://www.bloomberg.com/news/newsletters/2024-02-08/openai-s-brad-lightcap-is-making-chatgpt-allies-in-news-business


Surveillance: Everyone Embraces Risk as Worries Prove Premature
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FOMO is winning out over the wall of worry as risk assets creep ever higher. Risk assets are winning out as investors say it’s time to put worries aside.

https://www.bloomberg.com/news/newsletters/2024-02-08/stocks-fomo-is-winning-over-the-worriers


How Health Insurance Eroded Americans’ Earnings and Exacerbated Inequality
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The cost of health insurance for American families has outrun wage gains for decades, leaving less money to take home. A study estimates the magnitude of the gap.

#HealthInsurance #Earnings #Inequality

https://www.bloomberg.com/news/newsletters/2024-02-08/health-insurance-is-expensive-and-making-people-poorer


The Federal Reserve Isn’t Political. Well, Not Exactly.
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The Federal Reserve won't use monetary policy to influence the race for the White House, but it will seek to ensure that its current powers remain after the election. The Fed is caught in the political crosshairs as its actions this year will shape the strength of the economy on Election Day. Former President Trump believes the Fed will help the Democrats and has threatened to fire Fed Chair Jerome Powell if reelected. Democrats such as Senator Warren have urged the Fed to cut rates to improve housing affordability.

#FederalReserve #MonetaryPolicy #Election #Economy #JeromePowell #DonaldTrump #Democrats #InterestRates #HousingAffordability

https://www.bloomberg.com/opinion/articles/2024-02-08/the-federal-reserve-isn-t-political-well-not-exactly


FTSE 100 Live: What's Moving UK Markets, Right Now
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Unilever indicates that in the year ahead, its sales will have a closer balance between price increases and volumes. The company will focus on better efficiency in the business and more investment in its portfolio of key "power brands."

https://www.bloomberg.com/news/live-blog/2024-02-08/ftse-100-what-s-moving-uk-markets-right-now-markets-today


High Equity Valuations Put Soft Landing at Risk
==========

The article discusses the risk of a soft landing in the US economy due to high equity valuations. The author mentions that stock values are still elevated and may not provide long-term support as they did in the mid-1990s. Chicago Federal Reserve President Austan Goolsbee presents an optimistic view of the US economy, stating that a recession could be avoided without overheating. The soft landing is the goal of the Federal Reserve and is also reflected in market expectations.

https://www.bloomberg.com/news/newsletters/2024-02-07/high-equity-valuations-put-soft-landing-at-risk


Coders and Analysts Feel AI’s Breath on Their Necks
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White-collar workers, including analysts and coders, are concerned about the impact of AI on their jobs. There were around 39,000 announced layoffs in the US last month, signaling a shift towards AI and automation. Shareholders and politicians are not worried, as they see the potential for AI to boost productivity and economic growth. Bank of England boss Andrew Bailey believes AI will not be a 'mass destroyer of jobs.'

https://www.bloomberg.com/opinion/articles/2024-02-08/layoffs-is-ai-coming-for-white-collar-jobs-coders-and-analysts-should-worry


Investing for Trump 2.0 Is Trickier Than You Think
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Investing for Trump 2.0 is challenging due to the uncertainty of stock-picking and interest rates during the election campaign. Donald Trump's dominance in the Republican nomination process and strong showing in polls for the November election have increased his chances of winning. The current frontrunner, Joe Biden, is perceived as weak, with Michelle Obama ranking third in betting odds. The base-case scenario of a second term for Trump will continue to impact markets until November and beyond.

#Investing #Trump2.0 #Stock-picking #InterestRates #ElectionCampaign

https://www.bloomberg.com/opinion/articles/2024-02-08/trump-2-0-stock-picking-and-rates-will-be-tricky-during-the-election-campaign


Balance of Power 02/07/24
==========

The article discusses the ongoing negotiations in the Senate regarding a new bill that would provide funding for Ukraine, Israel, and Taiwan without including border security measures. Senator Michael Bennet from Colorado expresses his support for the bill, emphasizing the importance of supporting Ukraine in its fight against Putin's illegal invasion. However, Senator Bill Haggerty from Tennessee opposes the bill, stating that border security should be addressed before providing aid to other nations. The article also mentions the recent U.S. airstrike in Iraq that killed a commander of an Iran-backed militia responsible for attacks on U.S. forces. The senator believes that the U.S. should take a strong economic and military stance against Iran to deter further attacks. Additionally, the article mentions the failed attempt to impeach the Homeland Security Secretary and the upcoming questioning of Treasury Secretary Janet Yellen by the Senate Banking Committee. The Carlyle Group CEO discusses the Fed's efforts to tame inflation and expresses a positive outlook on the market despite the upcoming election year.

#Senate #Ukraine #Israel #Taiwan #BorderSecurity #U.s.Airstrike #Iran-backedMilitia #HomelandSecuritySecretary #TreasurySecretary #CarlyleGroup #MarketOutlook

https://www.bloomberg.com/news/videos/2024-02-08/balance-of-power-02-07-24-video


Immigration to Boost US GDP by $7 Trillion Over Decade, CBO Says
==========

The surge in immigration will help bolster the US economy by about $7 trillion over the next decade by swelling the labor force and increasing demand, according to the Congressional Budget Office (CBO). The CBO also projects that the stronger growth will lift federal government revenues by about $1 trillion more than otherwise over the period. However, wages are expected to rise more slowly, in part reflecting the increase in the number of lower skilled workers.

#Immigration #UsEconomy #CongressionalBudgetOffice #LaborForce #Demand #Wages

https://www.bloomberg.com/news/articles/2024-02-08/immigration-to-boost-us-gdp-by-7-trillion-over-decade-cbo-says


Jefferies West Coast Tech Head Cully Davis Leaving the Firm
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Cully Davis, the vice chairman of equity capital markets and head of West Coast technology, media, and telecom investment banking at Jefferies Financial Group Inc., is leaving the firm as soon as this summer. Davis joined Jefferies in 2016 and is based in San Francisco. He will be helping with the transition in the next three months.

https://www.bloomberg.com/news/articles/2024-02-07/jefferies-west-coast-tech-head-davis-said-to-be-leaving-the-firm


Arm Gives Bullish Forecast, Makes Headway Pushing Into New Areas
==========

Arm Holdings Plc gave a bullish forecast, with revenue in the three months ending in March expected to be $850 million to $900 million, compared to an average analyst estimate of $778 million. Earnings are projected to be roughly 30 cents, well ahead of the 21-cent projection. Arm's push beyond smartphones is helping fuel growth and profitability. The company's stock climbed as much as 26% in late trading.

https://www.bloomberg.com/news/articles/2024-02-07/arm-gives-bullish-forecast-makes-headway-pushing-into-new-areas


The Singapore Banker Who Tried to Be Gandalf
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DBS Group Chief Piyush Gupta, CEO at DBS Group Holdings Ltd., has taken a 30% cut in variable pay after delivering a chart-topping return on equity of 18%. Gupta acknowledges the role of small things, like an overheated data center, in making a bank good, average, or bad in the digital age.

#Banking #DbsGroup #PiyushGupta #DigitalAge

https://www.bloomberg.com/opinion/articles/2024-02-07/dbs-group-chief-piyush-gupta-is-running-out-of-time


Why China Is Limping Into the Year of the Dragon
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China's leaders are struggling to restore confidence in the economy as it heads into the lunar Year of the Dragon. The economy is facing a persistent stock selloff and Beijing's stimulus policies, such as lowering bank reserve requirements and issuing more government bonds, don't seem to be improving sentiment.

https://www.bloomberg.com/news/articles/2024-02-07/five-charts-show-china-s-economy-is-limping-into-the-year-of-the-dragon


There Are Clouds on the Horizon in Japan’s Conbini-Land
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Japan's convenience stores, known as conbini, are popular among tourists for their quirky offerings. Lawson, one of the major conbini chains, is planning to go private, indicating potential challenges in the industry. The stores were a highlight during the Tokyo Olympics, providing a wide range of food options 24/7. However, the move by Lawson suggests that the best years for the conbini industry may be behind it.

#Japan #ConvenienceStores #Lawson #Conbini

https://www.bloomberg.com/opinion/articles/2024-02-07/japan-s-conbini-lawson-might-be-too-good-to-stay-listed