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Key economic reports due this week are expected to add further evidence that the US economy is strengthening, bolstering arguments from several Federal Reserve officials that interest rates should be higher.
Nomura North Asia CIO Julia Wang believes the US economy remains resilient enough to absorb additional rate hikes without tipping into a recession. She cites strong consumer spending, ongoing AI capital expenditure, and loose fiscal policy as key drivers supporting growth. (Source: Bloomberg)
Yields on the US’s longest-dated bonds climbed to the highest level in more than two decades, the latest milestone in a global selloff driven by inflation fears and concern about government debt burdens. Bloomberg Intelligence's Ira Jersey joins to discuss. (Source: Bloomberg)
Federal Reserve Bank of Cleveland President Beth Hammack said there is the risk that an inflationary mindset takes hold as the US economy faces a series of supply shocks. Hammack warned that “when the environment is more prone to shocks, or the shocks arrive one after another in a period when inflation has been elevated for years, there’s a greater risk that an inflationary mindset could take hold.” She spoke Thursday at a conference hosted by the Cleveland Fed. (Source: Bloomberg)
Global bonds were selling off again as traders ramped up bets on further Fed rate hikes after strong US economic data and weak demand at a Treasury auction pushed yields to multi-decade highs. Sree Kochugovindan, Senior Research Economist at Aberdeen Investments spoke to Bloomberg’s Jennifer Zabasajja on Horizons Middle East & Africa on the US growth. (Source: Bloomberg)
High energy costs at the pump and strategic setback for US in the Iran war will likely cost Trump in the midterms.
Citizens Financial Group CEO Bruce Van Saun says the US economy is strong and consumers are spending, but they are cautious. He says customers have figured out how to absorb higher energy costs. He also doesn't expect the Federal Reserve to raise interest rates soon. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)