US REACT: April CPI Is Soft, But Details Aren’t Reassuring (2)
By Anna Wong (Economist), Stuart Paul (Economist) and Estelle Ou (Economist) Bloomberg May 15, 2024 (Bloomberg Economics) — OUR TAKE: April’s soft core CPI reading is the lowest yet this year. The good news is that we’re finally seeing disinflation in housing rents, which are on track to follow the downward path we – and probably […]
BofA’s Moynihan Says Consumers Still Strong Even With High Rates
Katherine Doherty Bloomberg MAY 13, 2024 Bank of America Corp. Chief Executive Officer Brian Moynihan said US consumers, helped by wage growth, remain in good shape even amid elevated interest rates, and that businesses are once again looking at mergers and acquisitions. Consumer spending has climbed 3% to 4% in May from a year ago, Moynihan said Monday. […]
BlackRock says now is the time to lock in higher yields and move cash into bonds
Michelle Fox CNBC MAY 3, 2024 Investors with cash on the sidelines may want to start moving some of that money into bonds, according to a new report from BlackRock. The bond market has seen some volatility amid the uncertainty around interest rates and the Federal Reserve’s monetary policy. On Friday, the 10-year Treasury yield […]
Backdoor Roth IRAs Are Promising—and Perilous
The Wall Street Journal Laura Saunders May 3, 2024 5:30 am ET For determined savers, the backdoor Roth IRA is an important tool. It’s easy to see why: Roth IRAs offer both tax-free growth and tax-free withdrawals on contributions of after-tax dollars. Savers can put in up to $7,000 this year, or $8,000 if age 50 […]
Google and Microsoft Don’t Care About Fed’s 2% Inflation Goal
Conor Sen Bloomberg May 3, 2024 High interest rates won’t deter spending by the big technology companies as they race to dominate in artificial intelligence. As the Federal Reserve acknowledges a setback in its inflation fight, one question looms large: Why hasn’t the economy slowed the way policymakers expected? An underrated factor here is the growing belief […]
Bullish Stocks Narrative Seen as Intact After US Inflation Data
Isabelle Lee Bloomberg March 29, 2024 Inflation view won’t shift, Richard Bernstein Advisors says Mismatch between spending and income is worrying, Sosnick says A cooldown in the Federal Reserve’s preferred gauge of underlying inflation last month, coupled with a rebound in household spending, failed to shift the Wall Street consensus that has lifted stocks to records in […]
US Consumer Sentiment Jumps to Highest Level Since July 2021
Vince Golle Bloomberg March 28, 2024 US consumer sentiment rose markedly toward the end of March, supported by strong stock-market gains and expectations that inflation will continue to ease. The University of Michigan’s sentiment index climbed to 79.4 from 76.5 earlier in the month, reaching the highest since mid-2021, according to the final March reading […]
Fed’s Preferred Inflation Metric Cools While Spending Rebounds
Augusta Saraiva Bloomberg March 29, 2024 The Federal Reserve’s preferred gauge of underlying inflation cooled last month while household spending rebounded. The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.3% from the prior month, data out Friday showed. That followed a 0.5% reading in January, marking the […]
Wall Street optimism on stocks is at its highest level since early 2022, BofA survey shows
PUBLISHED TUE, MAR 19 202412:18 PM EDT Jeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOM A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2024. Brendan Mcdermid | Reuters Risk appetite among professional investors in March has hit its highest level in more than two years, according to Bank of […]
CEO of Hapag-Lloyd, one of world’s top ocean shippers, says the outlook has changed for the global economy
Lori Ann LaRocco Bloomberg March 15, 2024 The CEO of Hapag-Lloyd tells CNBC inventories are depleted in many cases and the ocean carrier has seen a recovery after Chinese New Year. Due to the ongoing Houthi attack issues in the Red Sea and Panama Canal drought, U.S. companies are paying more for ocean freight, with […]