Three of the key supply-side factors driving today’s global inflation levels have already turned around, meaning relief could be on the horizon for shoppers worldwide. Price Relief Three big inputs to global inflation are seen easing from recent peaks Sources: InSpectrum Tech Inc., Drewry Shipping Consultants, Green Markets Notes: InSpectrum contract prices reported monthly. Drewry …
Continue reading “Inflation has peeked for now…. And that could be a big trade for us”
Washington might turn ‘blind eye’ to help lower prices: Vitol Market opinions on direction of oil have ‘never been wider’ The US may allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, according to the biggest independent crude trader. While a new agreement would limit Iran’s atomic …
Continue reading “US May Allow More Iran Oil to Flow Even Without Deal, Says Vitol”
The fate of the world’s biggest bond market is hanging largely on a single question: Has inflation in the US already peaked? Treasury yields have swung back at forth since last month as traders try to game out whether the Federal Reserve will need to stick with an aggressive series of interest-rate hikes or have …
Continue reading “Treasury Yields Staring Down 3% Threshold Await CPI for Next Cue”
The U.S. stock market’s two-week rally is even stronger than it looks. That’s saying something, since this rally has already tacked on impressive gains. As of the market’s close prior to the Memorial Day exchange holiday, the S&P 500 SPX, -1.63% was 6.6% higher than where it stood at its mid-May low. The Nasdaq Composite …
Continue reading “market strategist sees stocks surging 15% to 25% from their May low”
JPMorgan Chase CEO Jamie Dimon is telling investors to batten down the hatches, as the Ukraine war and the Federal Reserve’s monetary policy are potentially creating an economic hurricane. Dimon, speaking at a financial conference sponsored by AllianceBernstein, said, “It’s a hurricane. Right now, it’s kind of sunny, things are doing fine, everyone thinks the …
Major US stock markets closed lower on Friday as traders digested a stronger-than-expected employment report and its implications for monetary policy in the future. Tesla Inc. led the day’s declines after it was learned that Elon Musk is considering a hiring freeze and a 10% job cut. Nonfarm employment in the United States increased by …
Continue reading “Nasdaq slips over 2%, Dow falls 340 pts at the close”
OPEC+ agreed to open its oil taps faster in the summer months, a gesture of reconciliation to the US that nevertheless keeps Russia at the heart of the cartel. The White House welcomed the deal, which came after months of diplomatic pressure on Saudi Arabia to mitigate the surge in energy prices that’s battered the …
Continue reading “Saudis Nod to US With Oil-Output Hike, But Keep Russia Close”
WASHINGTON (Reuters) – The U.S. economy may be primed for several years of above-trend growth as families spend perhaps $2 trillion in excess savings banked during the pandemic, Richmond Federal Reserve President Tom Barkin said, and inflation will head higher for a while. But Barkin in a Reuters interview late Wednesday would not detail how …
(Reuters) – Saudi Arabia is prepared to raise its oil production if Russia’s output falls substantially because of the western sanctions imposed on it, the Financial Times reported on Wednesday, citing sources. Discussions had been held about an immediate increase in production from Saudi Arabia and the United Arab Emirates, which could be announced at …
Continue reading “Oil prices fall on reports S. Arabia might increase output”
The U.S. 10-year Treasury yield climbed Wednesday on the first day of June, with investors focused on rising inflation and interest rate hikes. The yield on the benchmark 10-year Treasury note gained 8.7 basis points at 2.931% as of 2:51 p.m. ET. The yield on the 30-year Treasury bond moved 1.8 basis points higher to …