Comparing Gaza Protests to the ’60s Is Wrong — and Dangerous
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The recent pro-Palestinian protests on college campuses in the United States are being compared to the protests of the 1960s, but this analogy is misleading and potentially dangerous. The protests in the 1960s were sustained, mass movements that lasted for nearly 10 years and involved violent clashes with police. The current protests, while significant, have only been happening for a few weeks. Drawing a direct comparison between the two eras is not only bad history but could also lead to unnecessary tragedy.
#Protests #Gaza #1960s #CollegeCampuses
https://www.bloomberg.com/opinion/articles/2024-05-04/gaza-campus-protests-aren-t-repeating-the-1960s-vietnam-war-movement
Summers’ Take: ‘The More We Learn, It's Not Really True That the More We Know’
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Larry Summers, special contributor at Harvard, believes that despite the amount of economic data available, it is not necessarily true that the more we know, the more we understand. He points out that the employment cost index suggests that wage inflation is not decreasing, housing numbers indicate higher inflation than expected, and a soft jobs report implies that inflation may not accelerate. Summers also warns that a strong dollar may be masking the true extent of inflation, as people tend to focus on negative factors that elevate the inflation rate and ignore the transitory factors that flatter it.
https://www.bloomberg.com/news/newsletters/2024-05-04/the-fed-may-be-too-satisfied-with-the-status-quo-in-policy-larry-summers-says
Live: Analysis of US Jobs Report for April
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The April US employment report, released on Friday, showed that nonfarm payrolls advanced last month, but at the slowest rate in six months. The unemployment rate ticked up to 3.9% and wage gains slowed. Job growth slowed in leisure and hospitality, construction, and government sectors, while payrolls declined at automakers and temporary-help providers. Gains were concentrated in health care, transportation, and retail trade. The number of weekly jobless claims edged down to 34.3, while the number of employees working part-time for economic reasons climbed to the highest since June 2. The Black unemployment rate tumbled last month after surging in March. The U-6 unemployment rate, a broad measure of employment, hours, and earnings, remained unchanged from the previous month. Bond yields tumbled, causing stock futures to rise, and the dollar weakened.
#UsEmploymentReport #April #NonfarmPayrolls #UnemploymentRate #WageGains #JobGrowth #LeisureAndHospitality #Construction #Government #HealthCare #Transportation #RetailTrade #JoblessClaims #ParttimeEmployees #BlackUnemploymentRate #U6UnemploymentRate #BondYields #StockFutures #Dollar
https://www.bloomberg.com/news/live-blog/2024-05-03/us-employment-report-for-april
Zelenskiy Meets Cameron, Urges UK to Deliver Weapons Soon
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Ukraine's President Volodymyr Zelenskiy appealed to the UK's Foreign Secretary David Cameron for weapons included in a recent aid package to be delivered as soon as possible. Zelenskiy briefed Cameron during a meeting in Kyiv about the situation on the frontline. They also discussed preparations for upcoming 'important' international events, including a peace summit to be held in Switzerland.
https://www.bloomberg.com/news/articles/2024-05-03/zelenskiy-meets-cameron-urges-uk-to-deliver-weapons-soon
Sony and Apollo Said to Offer $26 Billion for Paramount
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Sony Group and Apollo Global Management have made a $26 billion proposal to acquire Paramount Global, the owner of CBS and MTV. The offer is an all-cash deal for Paramount shares and the assumption of debt. Paramount, controlled by Shari Redstone, has been considering a merger proposal from David Ellison, head of Skydance Media and son of Oracle co-founder Larry Ellison. Other Paramount investors have criticized Ellison's proposal, leading Paramount to consider other bids.
#Sony #Apollo #Paramount #Cbs #Mtv #ShariRedstone #DavidEllison #SkydanceMedia #LarryEllison
https://www.bloomberg.com/news/newsletters/2024-05-02/bloomberg-evening-briefing-sony-apollo-said-to-offer-26-billion-for-paramount
US Labor Costs Rise by Most in a Year as Productivity Cools
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US labor costs increased in the first quarter by the most in a year as productivity gains slowed. Unit labor costs, or what a business pays employees to produce one unit of output after taking into account changes in productivity, climbed at a 4.7% annual rate. This marked a notable jump after muted gains in the second half of 2023. The rise in labor costs could potentially add to risks of elevated inflation.
https://www.bloomberg.com/news/articles/2024-05-02/us-labor-costs-rise-by-most-in-a-year-as-productivity-cools
A Primer for Hong Kong Bankers Thinking About Moving to the Middle East
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This article provides a primer for Hong Kong bankers considering moving to the Middle East for new jobs. It highlights the lack of familiarity with the Middle East in Hong Kong and offers useful tips for bankers. The article is written by Filipe Pacheco, an equity capital markets reporter, and it was published on May 2, 2024. The article aims to provide guidance and insights for Hong Kong bankers interested in pursuing opportunities in the Middle East.
https://www.bloomberg.com/news/newsletters/2024-05-02/what-hong-kong-bankers-should-know-before-moving-to-middle-east-for-new-jobs
Five Things You Need to Know to Start Your Day: Europe
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The Federal Reserve signals concerns about inflation and indicates it will keep borrowing costs elevated for longer. European Central Bank member Pablo Hernandez de Cos is optimistic about euro-area inflation slowing to target. Bank of England policymakers are divided on possible rate cuts. Traders on Wall Street react positively to Jerome Powell's signal that there won't be oncoming rate hikes. Powell doesn't explicitly signal a rate cut this year either.
https://www.bloomberg.com/news/newsletters/2024-05-02/stock-markets-today-us-rates-uk-elections-mideast-talks
Fed Cites Lack of Progress on Inflation, Holds Rates Steady
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The Federal Reserve has decided to hold interest rates steady at 5.25% to 5.5% due to concerns about inflation. The decision comes after a slew of data indicating lingering price pressures in the US economy. The Fed is seeking more evidence that price gains are cooling before considering cutting interest rates from their current two-decade high.
#FederalReserve #InterestRates #Inflation
https://www.bloomberg.com/news/articles/2024-05-01/fed-cites-lack-of-progress-on-inflation-holds-rates-steady
Using Powell’s Past Language to Predict His Next Move
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A new natural language processing model aims to predict the next move of the US Federal Reserve based on Chair Powell's past language. At the end of last year, Powell hinted at cutting interest rates to stave off an expected recession. Now, five months into 2024, he is poised to pivot again. The latest Fed meeting is currently underway, and the model may provide insights into what's next.
https://www.bloomberg.com/news/articles/2024-05-01/natural-language-processing-model-aims-to-predict-next-fed-interest-rate-move
White House Beefs Up Economic Team as Biden Vies for Second Term
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President Biden is promoting a pair of aides to bolster his team of economic advisers ahead of the 2024 election. Rob Friedlander will serve as chief of staff to the National Economic Council, led by Lael Brainard. White House spokesman Michael Kikukawa will succeed Friedlander as senior communications adviser for economic messaging.
#WhiteHouse #EconomicTeam #Biden #Reelection #NationalEconomicCouncil #LaelBrainard #RobFriedlander #MichaelKikukawa
https://www.bloomberg.com/news/articles/2024-04-29/white-house-beefs-up-economic-team-as-biden-vies-for-second-term
Hong Kong’s Hang Seng Index Jumps 20% From January Low, Heads for Bull Market
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Hong Kong’s Hang Seng Index has risen almost 2% on Monday, bringing its advance from a January 22 low to more than 20%. If it closes at these levels, it will meet the definition of a bull market. This follows a stellar rebound in Hong Kong stocks this month, driven by overseas inflows. The Hang Seng Index joins a number of other indexes in China and Hong Kong that have reached bull market territory in recent weeks.
https://www.bloomberg.com/news/articles/2024-04-29/hong-kong-s-hang-seng-index-jumps-20-from-january-low-heads-for-bull-market
Top US Diplomat to Meet Xi in Beijing in Talks to Steady Ties
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US Secretary of State Antony Blinken will meet with President Xi Jinping in Beijing on Friday afternoon. The meeting comes as the world's biggest economies spar on trade complaints and China's continued support for Russia. Blinken earlier held five hours of 'constructive' meetings with China's Foreign Minister. The relationship between the US and China remains tense, and Blinken stressed the importance of dialogue to avoid misunderstandings and miscalculations.
#UsSecretaryOfState #AntonyBlinken #PresidentXiJinping #China #TradeComplaints #Russia #ForeignMinister
https://www.bloomberg.com/news/articles/2024-04-26/blinken-to-meet-china-s-top-diplomat-as-russia-sanctions-loom
DigitalBridge-Backed Vantage Said to Weigh HK Data Centers Sale
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Vantage Data Centers, backed by DigitalBridge, is considering selling its assets in Hong Kong for as much as $500 million. The Denver, Colorado-based company is working with a financial adviser and has reached out to prospective investors to gauge interest. The Hong Kong data centers could be valued at $300 million to $500 million.
https://www.bloomberg.com/news/articles/2024-04-26/digitalbridge-backed-vantage-said-to-weigh-hk-data-centers-sale
H2O to Offer Millions to Irate Clients in Bid to Dodge a UK Fine
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H2O Asset Management is offering payoffs to clients to avoid a UK fine. The firm is in talks with regulators about how much to set aside as part of their probe into a scandal over illiquid securities linked to Lars Windhorst. Clients have been unable to access investments worth about €1.6 billion since 2020.
https://www.bloomberg.com/news/articles/2024-04-25/h2o-to-offer-millions-to-irate-clients-in-bid-to-dodge-a-uk-fine
Dollar Wrecking Ball Sees Investors Look for Cover in Exporters
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The strong US dollar has hurt stocks outside the US, but companies that export to the US stand to gain. Asian chipmakers and European industrial and pharmaceutical firms are expected to benefit from the stronger dollar. Shares of exporters to the US have already outperformed a broad gauge of stocks this year, according to Goldman Sachs Group Inc. indexes.
https://www.bloomberg.com/news/articles/2024-04-25/dollar-wrecking-ball-sees-investors-look-for-cover-in-exporters
Can Tesla Escape Its Troubles?
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Tesla became one of the most valuable companies by selling battery-powered electric vehicles profitably and in high volumes. However, in 2024, investors have raised concerns about Tesla's outlook due to slumping sales, confusing signals about its product strategy, and worries about its aging lineup. Elon Musk, Tesla's CEO, has been more focused on the promise of an autonomous robotaxi than developing a more affordable electric vehicle to compete with companies like BYD Co. in China. Tesla's driver-assistance software, Full Self-Driving, still requires active monitoring by a human.
https://www.bloomberg.com/news/articles/2024-04-24/tesla-tsla-can-musk-s-robotaxi-dream-help-ev-maker-fix-its-troubles
Five Things You Need to Know to Start Your Day: Asia
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BHP Group has approached Anglo American about a potential takeover offer. Anglo American received an unsolicited all-share merger proposal from BHP. Anglo's board is reviewing the proposal. If successful, it would mark a return to large-scale dealmaking for BHP. Tech shares decline as Meta disappoints. The weakening yen adds to intervention risk. The US aims to beat China at chip research.
https://www.bloomberg.com/news/newsletters/2024-04-24/five-things-you-need-to-know-to-start-your-day-asia
Oil Holds Modest Loss as Risk-Off Tone Counters Lower Stockpiles
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West Texas Intermediate held a modest decline below $83 a barrel after a 0.7% decline on Wednesday, with Brent crude closing just above $88. Data showed nationwide US crude inventories fell by a bigger-than-expected amount last week as refineries ramped up processing and exports rose.
https://www.bloomberg.com/news/articles/2024-04-24/latest-oil-market-news-and-analysis-for-april-25
What a Supreme Court Ruling Could Mean for US Homelessness
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The US Supreme Court heard oral arguments in a case concerning Grants Pass, Oregon's ban against homeless encampments. The town does not provide shelters, leading to a debate on whether this constitutes "cruel and unusual punishment." A narrow ruling from the court could have significant repercussions for the nation's homeless population. Cities and states are adopting legislation to increase law enforcement sweeps and enforce involuntary hospital commitments. The case highlights that housing and homelessness are not strictly partisan issues.
#UsSupremeCourt #Homelessness #GrantsPass,Oregon
https://www.bloomberg.com/news/newsletters/2024-04-24/what-a-supreme-court-ruling-could-mean-for-us-homelessness-citylab-daily
Expect More Upside for Equities While the Economy Remains Buoyant
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US equities have come under pressure as interest rates have risen. However, this mini-correction is expected to be short-lived as long as the US economy continues to grow above trend. Tesla's recent headlines indicate that the stock market may continue to rise, despite the company's struggles. Tesla's stock has dropped over 40% year-to-date, but the prospect of the company flooding the market with cheaper electric vehicles has caused the stock to rise. This suggests that promises, hopes, and dreams still have a significant impact on the stock market.
#Equities #StockMarket #Tesla
https://www.bloomberg.com/news/newsletters/2024-04-24/tesla-tells-you-that-equities-can-continue-to-push-higher
FTC Ban on Noncompetes Is a Victory for the US Economy
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The Federal Trade Commission (FTC) has implemented a ban on noncompete agreements, which is seen as a victory for the US economy. The ban gives workers more bargaining power and makes businesses more competitive. Noncompete agreements are not only relevant for employees with trade secrets, but are often imposed across various industries on a wide range of workers. Most hiring in the US involves people leaving one job for another, which shapes the dynamism of the labor market.
#Ftc #NoncompeteAgreements #UsEconomy #BargainingPower #LaborMarket
https://www.bloomberg.com/opinion/articles/2024-04-24/ftc-ban-on-noncompetes-is-a-victory-for-the-us-economy
Bloomberg Surveillance TV: April 24, 2024
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The Bloomberg Surveillance TV episode on April 24, 2024, covers the latest in finance, economics, and investment. The episode features interviews with Kate Moore, Head of Thematic Strategy at BlackRock Global Allocation Team, Tiffany Wilding, Managing Director at PIMCO, and Henrietta Treyz, Director of Economic Policy Research at Veda Partners. Kate Moore discusses the upcoming week for Big Tech earnings and the critical questions they need to answer about the equity market. Tiffany Wilding looks ahead to key GDP and inflation data, noting that the 'hot' US economy is not consistent with moderating inflationary pressures. Henrietta Treyz comments on Congress' new aid package for Ukraine, Israel, and Taiwan, suggesting that Congress members want to be on the right side of history. The episode is available as a podcast.
https://www.bloomberg.com/news/audio/2024-04-24/bloomberg-surveillance-tv-april-24-2024
Bloomberg Surveillance TV: April 24, 2024
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The Bloomberg Surveillance TV episode on April 24, 2024, covers the latest in finance, economics, and investment. The episode features interviews with Kate Moore, Head of Thematic Strategy at BlackRock Global Allocation Team, Tiffany Wilding, Managing Director at PIMCO, and Henrietta Treyz, Director of Economic Policy Research at Veda Partners. Kate Moore discusses the upcoming week for Big Tech earnings and the critical questions they need to answer about the equity market. Tiffany Wilding looks ahead to key GDP and inflation data, noting that the 'hot' US economy is not consistent with moderating inflationary pressures. Henrietta Treyz comments on Congress' new aid package for Ukraine, Israel, and Taiwan, suggesting that Congress members want to be on the right side of history. The episode is available as a podcast.
https://www.bloomberg.com/news/audio/2024-04-24/bloomberg-surveillance-tv-april-24-2024
Artificial Intelligence Offers an Opportunity to Improve EV Batteries
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Chemix, an AI-powered EV battery developer, has completed a $20 million Series A funding round led by Ibex Investors. The startup uses algorithms to design and optimize novel batteries for electric vehicle makers. The funding will be used to scale its technology. AI offers an opportunity to improve EV batteries by speeding up battery development, ensuring EVs are more efficient and can stay on the road longer.
https://www.bloomberg.com/news/articles/2024-04-24/california-artificial-intelligence-startup-assists-ev-battery-development
Risks of War Are Weighing on Europe’s Leaders
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Europe's leaders are preparing for the risk of a new war on the continent following Russia's invasion of Ukraine. German soldiers participated in a multinational training exercise in Hohenfels, Germany. The article discusses the concerns and preparations of European leaders in response to the escalating tensions. The author is Karl Maier and the article was published on April 24, 2024.
https://www.bloomberg.com/news/newsletters/2024-04-24/russia-s-invasion-of-ukraine-has-europe-worried-about-the-risks-of-war
Morgan Stanley’s Wilson Is Steering Clear of Bold S&P 500 Calls
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Morgan Stanley's Mike Wilson is avoiding making bold S&P 500 calls and instead focusing on finding opportunities beneath the surface. Wilson, the firm's chief US equity strategist, stated that they haven't talked much about the index in the last four or five months and are trying to focus on relative-value trades.
https://www.bloomberg.com/news/articles/2024-04-23/morgan-stanley-s-wilson-is-steering-clear-of-bold-s-p-500-calls
Bloomberg Surveillance: Rates and Media
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The Bloomberg Surveillance podcast hosted by Tom Keene and Paul Sweeney covers the latest in finance, economics, and investment. In this episode on April 23rd, 2024, the following topics were discussed: Stephen Stanley, Chief Economist at Santander, talked about recent inflation data and what the Fed is watching this week. Thierry Wizman, Director: Global Currencies & Interest Rate Strategist at Macquarie Futures, discussed FX weakness, volatility, and what the bond market is signaling about the US economic outlook. Ian Whittaker, Managing Director and Owner at Liberty Sky Advisors, shared insights on streaming wars, Meta earnings, and tech regulation. Lisa Mateo presented newspaper headlines. The podcast is available on YouTube and a newsletter can be subscribed to on the Bloomberg website.
https://www.bloomberg.com/news/audio/2024-04-23/bloomberg-surveillance-rates-and-media-podcast
Bets on Old Economy Stocks Lift European Fund Above Its Peers
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Daniel Avigad, manager of Lansdowne Partners' $2.6 billion long-only European equity strategy, has outperformed the benchmark index by betting on old-economy stocks such as industrials and electrical engineering. The TM Lansdowne European Special Situations Fund has gained nearly 14% in the past year, beating the MSCI Europe Net Total Return Index. Avigad has stayed away from Europe's luxury and consumer-related stocks and focuses on identifying cash generative business models that can return money and grow. The fund's top holdings include Schneider Electric, Vinci, and Michelin.
#EuropeanFund #EquityStrategy #OldeconomyStocks #Industrials #ElectricalEngineering #BenchmarkIndex #Outperformance #CashGenerativeBusinessModels #LuxuryStocks #ConsumerrelatedStocks #SchneiderElectric #Vinci #Michelin
https://www.bloomberg.com/news/articles/2024-04-23/bets-on-old-economy-stocks-lift-european-fund-above-its-peers
State Street's Farley: US, Global Economy Reasonably Strong
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Dan Farley, State Street Global Advisors, Investment Solutions Group CIO, discusses the US and global economy, Fed moves, and bank earnings. He believes that in the near term, the US and global economy are reasonably strong and that earnings need to deliver to support valuations. However, he sees red flags and warns of potential vulnerabilities in the future. Farley also discusses the concentration of certain stocks, the Fed's restrictive stance, and the impact of economic strength on corporate profitability and consumer resilience. He mentions cracks in employment data and the mix between full-time and part-time employment. Farley is less overweight on US equities and overweight on cash, but still likes high-yield investments and gold. He believes that the carry on higher yields and the technical factors support these investments. Farley also mentions the impact of central bank buying on gold prices. Overall, he sees a reasonably strong economy in the near term but warns of potential challenges in the future.
https://www.bloomberg.com/news/videos/2024-04-23/farley-us-global-economy-reasonably-strong-video
Milei Trumpets Quarterly Budget Surplus in Argentina TV Address
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President Javier Milei announced Argentina’s first quarterly fiscal surplus since 2008 during a televised speech. The crisis-prone South American nation posted a quarterly fiscal surplus of 0.2% of gross domestic product to start the year, as well as a third consecutive monthly surplus in March. Argentina achieved its rare surplus by slashing three quarters of transfers to provincial governments and halting nearly 90% of public works. Milei has devalued the currency by more than 50%, halved the number of government ministries, removed hundreds of price controls, and started to cut generous energy and transport subsidies.
#Argentina #BudgetSurplus #FiscalPolicy
https://www.bloomberg.com/news/articles/2024-04-23/milei-trumpets-quarterly-budget-surplus-in-argentina-tv-address
BOJ to Hold Rates With Focus on Hawkish Signals to Buoy Yen
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The Bank of Japan is expected to leave its benchmark interest rate unchanged as the yen trades around a 34-year low. Governor Kazuo Ueda and the board members are set to keep the short-term rate around 0% to 0.1%. The weak yen could spur cost-push inflation, and some executives at businesses that benefited from the depreciation of the currency have started to express concerns about the overall impact. The BOJ may send a clearer signal of policy normalization this time around, with a possible front-loading of a rate hike in June or July. The BOJ's latest quarterly inflation forecasts and its characterization of the risks to its view are among the easiest ways the central bank could flick at the possibility of earlier rate hikes. Governor Ueda hasn't ruled out responding to exchange rates with a policy move if the impact on prices is seen to be 'non-negligible.' The yen fell to 154.85 versus the dollar overnight, the weakest level since June 1990. Bets by leveraged funds and asset managers on yen weakness increased to more than 173,000 contracts through April 16, the most on record in Commodity Futures Trading Commission data going back to 2006. The BOJ is likely to discuss raising its projection for consumer prices excluding fresh food from the current 2.4% in the current fiscal year, and forecast price gains of around 2% in its first projection for fiscal 2026. The recent rise in oil prices in addition to the surprisingly strong results of spring wage talks make it almost certain inflation forecasts will be revised higher. Three quarters of BOJ watchers say the assessment of the risk balance, and whether upward risks are highlighted, will be more important than usual this time. Governor Ueda said that if underlying inflation continues to go up, they would be very likely raising interest rates. A policy reaction function has shifted under Ueda's leadership, with priority placed on returning Japan to a world with positive interest rates. However, the rate gap between BOJ and the Fed is just too wide for Japan to address on its own. Any move by the BOJ aimed at buoying the yen could be overshadowed several hours after the policy announcement, with the US set to release the Federal Reserve's preferred inflation gauge. Bond traders are closely watching to see if the BOJ indicates a shift in its bond buying plans. A reduction could be taken as a signal of an additional normalization step. After its March meeting, the BOJ pledged to keep buying almost the same amount of bonds as previously, or about ¥6 trillion ($38.8 billion) per month. Ueda last week said the bank thought it would be 'dangerous' to completely exit the market in one go.
#BankOfJapan #InterestRates #Yen #Inflation #MonetaryPolicy
https://www.bloomberg.com/news/articles/2024-04-22/boj-to-hold-rates-with-focus-on-hawkish-signals-to-buoy-yen
Five Things You Need to Know to Start Your Day: Asia
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Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
https://www.bloomberg.com/news/newsletters/2024-04-22/five-things-you-need-to-know-to-start-your-day-asia
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
https://www.bloomberg.com/news/newsletters/2024-04-22/five-things-you-need-to-know-to-start-your-day-asia
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
https://www.bloomberg.com/news/newsletters/2024-04-22/five-things-you-need-to-know-to-start-your-day-asia
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
https://www.bloomberg.com/news/newsletters/2024-04-22/five-things-you-need-to-know-to-start-your-day-asia
Five Things You Need to Know to Start Your Day: Asia
==========
Tesla CEO Elon Musk speaking in Rome in December. Stocks rebound from $2 trillion selloff as US earnings season begins. Over 180 companies in the S&P 500 are due to report this week. Tech firms' profits forecast to rise nearly 40% from a year ago. JPMorgan Chase's Marko Kolanovic predicts a continued selloff in equities. Treasuries waver ahead of bond auctions after yields hit highest in 2024.
#UsEarningsSeason #StockMarket #TechFirms #BondAuctions
https://www.bloomberg.com/news/newsletters/2024-04-22/five-things-you-need-to-know-to-start-your-day-asia
Paraguay Surprises by Not Cutting Rate, Citing Fed and Oil Risks
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Paraguay's central bank kept its benchmark interest rate unchanged at 6% due to rising uncertainty about oil prices and the timing of US rate cuts. Analysts had expected a quarter-point cut. The central bank has already lowered borrowing costs by 250 basis points since the start of its easing cycle in August.
#Paraguay #CentralBank #InterestRate #OilPrices #UsRateCuts
https://www.bloomberg.com/news/articles/2024-04-22/paraguay-surprises-with-rate-cut-pause-citing-fed-and-oil-uncertainty
Offshore Drilling Grows as US Shale Gets Left Behind
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American oil-services companies are pivoting overseas for growth as the US shale industry declines. International markets are experiencing a multiyear expansion in capital spending. The US has become the world's largest oil producer, but the industry's biggest contractors are seeking growth opportunities elsewhere. Offshore drilling is expanding while US shale gets left behind. American oil-services companies are looking for growth in international markets.
https://www.bloomberg.com/news/newsletters/2024-04-22/offshore-drilling-expands-as-us-shale-gets-left-behind
Offshore Drilling Grows as US Shale Gets Left Behind
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American oil-services companies are pivoting overseas for growth as the US shale industry declines. International markets are experiencing a multiyear expansion in capital spending. The US has become the world's largest oil producer, but the industry's biggest contractors are seeking growth opportunities elsewhere. Offshore drilling is expanding while US shale gets left behind. American oil-services companies are looking for growth in international markets.
https://www.bloomberg.com/news/newsletters/2024-04-22/offshore-drilling-expands-as-us-shale-gets-left-behind
US Commerce Chief Goes Prime Time Defending Industrial Policy
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The head of the US Commerce Department defends industrial policies. The Commerce Department is ranked low in the US presidential succession. Geopolitics and global economic influence are increasingly intertwined. The article is from Bloomberg and written by Brendan Murray.
https://www.bloomberg.com/news/newsletters/2024-04-22/supply-chain-latest-raimondo-defends-us-industrial-policies
How JPMorgan’s Cash Call Beat Bank of America
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During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
How JPMorgan’s Cash Call Beat Bank of America
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During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
How JPMorgan’s Cash Call Beat Bank of America
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During the Covid-19 pandemic, JPMorgan Chase & Co. kept extra cash in money markets or at the Fed, while Bank of America Corp. invested in bonds. JPMorgan's strategy turned out to be more lucrative as interest rates are set to fall four years later.
https://www.bloomberg.com/opinion/articles/2024-04-22/how-jpmorgan-s-cash-call-beat-bank-of-america
Global Economy Warning, Inflation Data in Focus
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Australia's treasurer, Jim Chalmers, announced that Australia will cut economic forecasts for most major economies, including China, in its upcoming budget release. Chalmers stated that uncertainty about the global outlook was a central topic of discussion during his meetings with international counterparts and central bank chiefs in Washington. Inflation data is projected to show inflation. The US House has approved funding for Ukraine, Israel, and Taiwan.
https://www.bloomberg.com/news/newsletters/2024-04-21/australia-news-today-global-economy-warning-inflation-data-in-focus
China Braces for Worst as It Becomes Punching Bag in US Election
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China's government is resisting moves that could harm its economy as it becomes a top target in the US election campaign. President Joe Biden called China "xenophobic" and threatened tariffs on Chinese steel and aluminum exports during a campaign stop in Pennsylvania. Beijing responded with restraint and is relying on the American consumer to boost its economy.
https://www.bloomberg.com/news/articles/2024-04-21/china-braces-for-worst-as-it-becomes-punching-bag-in-us-election
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