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Bloomberg
China Puts Monetary Easing on Hold With Fed Set to Hike
(Bloomberg) — China’s central bank abstained from cutting a key policy interest rate, avoiding further policy divergence from the US that could add pressure on the yuan. Most Read from BloombergChina Alarms US With Private Warnings to Avoid Taiwan StraitAmericans Are Building Vacation-Home Empires With Easy-Money LoansVolatility Grips Stocks as Treasury Yields Surge: Markets WrapBiden’s ‘Never Been More Optimistic’ Despite Troubled US EconomyStocks’ Pandemic Bull Run Ends With Recession Fear: M
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Reuters
Yields hit decade highs before expected 75 bp Fed rate hike
U.S. Treasury yields climbed to their highest levels in a decade on Tuesday as investors raised bets that the Federal Reserve will hike rates by 75 basis points when it concludes its two-day meeting on Wednesday. Fed funds futures traders are now pricing in an 87% chance of a 75 basis point increase on Wednesday, and a 13% chance of a 50-basis-point increase. Economists upped their rate hike forecasts after a Wall Street Journal article on Monday said that Fed officials would consider a 75 basis point hike, which was interpreted as being an informal communication by the U.S. central bank.
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Bloomberg
Big Tech’s Floor Collapses on Renewed Fears of Bigger Rate Hikes
(Bloomberg) — The world’s biggest technology stocks are crumbling on Monday as broad markets enter into bear market territory amid fears the Federal Reserve will send the US economy into recession. Most Read from BloombergChina Alarms US With Private Warnings to Avoid Taiwan StraitAmericans Are Building Vacation-Home Empires With Easy-Money LoansVolatility Grips Stocks as Treasury Yields Surge: Markets WrapBiden’s ‘Never Been More Optimistic’ Despite Troubled US EconomyStocks’ Pandemic Bull Run
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Bloomberg
Hedge Fund Selling Was Never More Furious Than in Last Two Days
(Bloomberg) — The smart money dumped stocks at the fastest pace on record as a vicious selloff sent the S&P 500 into a bear market. Most Read from BloombergChina Alarms US With Private Warnings to Avoid Taiwan StraitStocks’ Pandemic Bull Run Ends With Recession Fear: Markets WrapVolatility Grips Stocks as Treasury Yields Surge: Markets WrapWHO Will Rename Monkeypox Virus to Minimize Stigma, RacismCrypto Market Sinks Below $1 Trillion After Latest DeFi BlowupHedge funds tracked by Goldman Sachs
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TipRanks
2 Big Dividend Stocks With 9% Yield; Raymond James Says ‘Buy’
Inflation data dominated the market news at the end of last week, and rightly so. The May print, of 8.6% annualized gains in the consumer price index, marked a sharp reversal from the modest decline seen in April, and a new ‘highest level in 40 years’ data point. It reignited worries that the rosy projections – of a transient inflation, or of lower rates by early next year – are unlikely to reach fruition. Even though unemployment is low and wages are up, the declines in real earnings and the GD
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Yahoo Finance Video
Apple signs 10-year streaming deal with MLS
Yahoo Finance sports reporter Josh Schafer joins the Live show to break down how streaming services are competing to secure deals with streaming rights for sports.
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Bloomberg
Fed Mulls ‘Game Changer’ to Jolt Inflation: Decision Day Guide
(Bloomberg) — Federal Reserve Chair Jerome Powell, who’s carefully telegraphed interest rate hikes over four years, looks likely to abandon gradualism and move more forcefully to stamp out inflation along with growing concerns that it will persist.Most Read from BloombergChina Alarms US With Private Warnings to Avoid Taiwan StraitAmericans Are Building Vacation-Home Empires With Easy-Money LoansVolatility Grips Stocks as Treasury Yields Surge: Markets WrapBiden’s ‘Never Been More Optimistic’ De
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Reuters
US STOCKS-Wall Street slips as Fed policy announcement looms
The S&P 500 fell in a choppy session on Tuesday as the index was unable to bounce from a sharp sell-off in the prior session ahead of a key policy statement from the Federal Reserve that will reveal how aggressive the central bank’s policy path will be. Expectations had largely been predicting the Fed would hike by 50 basis points at the conclusion of its meeting on Wednesday. However, expectations that a 75 basis point hike was on the table have been growing after Friday’s higher-than-expected consumer price index (CPI) data for May. In addition, a report from the Wall Street Journal on Monday and forecasts from several banks, including JP Morgan and Goldman Sachs, signaling a 75 basis point hike have strengthened that belief.
