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LONDON/SYDNEY (Reuters) - Global shares hovered near a record high and the dollar also held steady on Thursday, eyeing U.S. inflation data for any sign the Federal Reserve could start tapering its massive stimulus. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 9, 2021. Yet April’s surprisingly strong U.S. inflation print spooked some, leading to a cautious run in to the May numbers later on Thursday in case of another upside surprise. Ahead of the U.S. CPI data, analysts polled by Reuters said they expected a rise of 0.4% in May, taking the annual pace to 3.4%. Activity was muted in the currency market with the dollar flat against a basket of major currencies.
Persons: April’s, , That’s, , Jim Reid Organizations: Global, eyeing, Federal Reserve, REUTERS, Staff, Deutsche Bank, Morgan, Treasury, U.S, CPI, Reuters, ANZ, Brent Locations: SYDNEY, eyeing U.S, Frankfurt, Germany, COVID, Europe, Asia, Pacific, Japan, U.S, Treasuries, United States
Column: Inflation warnings are mostly 'just in case'
  + stars: | 2021-06-09 | by ( Mike Dolan | ) www.reuters.com + 0.00   time to read: +6 min
LONDON (Reuters) - As grandees of the investment world fall over themselves to warn of long-absent inflation up ahead, financial markets appear ever calmer about the risks of that new regime unfolding. Echoing that mantra from major central banks, the World Bank on Tuesday said the 1% jump in world inflation forecast for this year wouldn’t warrant a policy change as long as inflation expectations stay under wraps. For all their eye-catching red flags, investment banks are just hedging their bets to some degree. Deutsche Bank’s economists this week said their central scenario was that the inflation resurgence would be temporary and benign. Given the scale of debt accumulated during the pandemic, “neglecting inflation leaves global economies sitting on a time bomb.”Others already have a new inflation regime as a base case.
Persons: Lucy Nicholson, , it’s, , Jim Wood, Smith, Reagan, Volcker, ” Deutsche’s David Folkerts, Landau, Peter Hooper, Jim Reid, Pascal Blanque, Amundi, Larry Fink, Morgan Stanley Organizations: REUTERS, United, Federal Reserve, World Bank, Hawksmoor Investment Management, Deutsche, BlackRock, U.S, CPI Locations: Beverly Hills , California, U.S, United States
COLUMN-Inflation warnings are mostly 'just in case' :Mike Dolan
  + stars: | 2021-06-09 | by ( Mike Dolan | ) www.reuters.com + 0.00   time to read: +6 min
Thursday will likely see the United States record the highest consumer price inflation rate in 13 years - just shy of 5% - and the fastest rate since 1993 if food and energy prices are cut out. Echoing that mantra from major central banks, the World Bank on Tuesday said the 1% jump in world inflation forecast for this year wouldn’t warrant a policy change as long as inflation expectations stay under wraps. For all their eye-catching red flags, investment banks are just hedging their bets to some degree. Deutsche Bank’s economists this week said their central scenario was that the inflation resurgence would be temporary and benign. And sub-2.5% inflation expectations over 5- and 10-year bond market horizons show that current CPI prints are still seen as a blip over time.
Persons: , it’s, , Jim Wood, Smith, Reagan, Volcker, ” Deutsche’s David Folkerts, Landau, Peter Hooper, Jim Reid, Pascal Blanque, Amundi, Larry Fink, Morgan Stanley Organizations: Reuters, LONDON, United, Federal Reserve, World Bank, Hawksmoor Investment Management, Deutsche, BlackRock, U.S, CPI Locations: United States
Economic orthodoxy on inflation is changing, Deutsche Bank says
  + stars: | 2021-06-07 | by ( ) www.cnbc.com + 0.54   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic orthodoxy on inflation is changing, Deutsche Bank saysJim Reid, global head of fundamental credit strategy and thematic research at Deutsche Bank, discusses the outlook for inflation and the role of fiscal and monetary stimulus during the coronavirus pandemic.
Persons: Jim Reid Organizations: Deutsche Bank
Britain's Chancellor of the Exchequer Rishi Sunak (R) welcomes US Treasury Secretary Janet Yellen to the G7 Finance Ministers Meeting at Lancaster House, central London on June 4, 2021. U.S. Treasury Secretary Janet Yellen said a global minimum rate would end "the race-to-the-bottom in corporate taxation." Organizations and charities that have long campaigned for global corporate tax rates to be higher largely panned the announcement on Saturday. "However, fixing a global minimum corporate tax rate of just 15 percent is far too low. It will do little to end the damaging race to the bottom on corporate tax and curtail the widespread use of tax havens."
Persons: Rishi Sunak, Janet Yellen, STEVE REIGATE, George Dibb, Biden, Squawk, Daniele Franco, Bruno Le Maire, Chrystia Freeland, Britain's, Olaf Scholz, HENRY NICHOLLS, Jim Reid, CNBC's, it's, Gabriela Bucher, Bucher, Gilles Moëc Organizations: US, Lancaster House, AFP, Getty, Finance, U.S . Treasury, Centre for Economic Justice, for Public Policy Research, CNBC, Canada's Finance, IMF, Germany's, Deutsche Bank, OECD, Oxfam International, pharma, Ireland, AXA Investment Locations: London, Canada, France, Germany, Italy, Japan, EU, U.S, Switzerland, Singapore
UPDATE 1-European stocks flat as Richemont jump offsets UK slide
  + stars: | 2021-05-21 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
The pan-European STOXX 600 index was flat, with British stocks falling about half a percent despite a much bigger than expected jump in retail sales. Cartier maker Richemont rose 4.6% to a record high as its net profit rose by a third in 2020/21, helped by a strong performance of its jewellery brands and a proposal to double its dividend. IHS Markit’s survey showed euro zone business growth accelerated at its fastest pace in over three years in May, helped by a strong resurgence in the bloc’s dominant service industry as economies reopened. The European Central Bank chief Christine Lagarde is set to speak at a press conference following a Eurogroup meeting later in the day. Lufthansa AG fell 6.2% as the Thiele family, the second-largest shareholder in the German airlines, sold more than half of its stake.
Persons: Thiel, Richemont, Cartier, Jim Reid, Christine Lagarde, Thiele, Siena, Unicredit Organizations: Lufthansa, IHS, Deutsche Bank, European Central Bank, BMW, Lufthansa AG, Bper Banca, Banco, Banca Monte dei, European Union Locations: London, Richemont, Germany, pare, Unicredit, Italy
European stocks flat as Richemont jump offsets UK slide
  + stars: | 2021-05-21 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) -European stocks held steady on Friday as Swiss luxury goods maker Richemont jumped after its results, but a slide in London-listed shares and worries about inflation dampened early enthusiasm. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 20, 2021. REUTERS/StaffThe pan-European STOXX 600 index was flat, with British stocks falling about half a percent despite a much bigger than expected jump in retail sales. [.L]Cartier maker Richemont rose 4.6% to a record high as its net profit rose by a third in 2020/21, helped by a strong performance of its jewellery brands and a proposal to double its dividend. The European Central Bank chief Christine Lagarde is set to speak at a press conference following a Eurogroup meeting later in the day.
Persons: Richemont, Cartier, Jim Reid, Christine Lagarde, Thiele, Siena, Unicredit Organizations: Reuters, REUTERS, Staff, IHS, Deutsche Bank, European Central Bank, BMW, Lufthansa AG, Bper Banca, Banco, Banca Monte dei, European Union Locations: London, Frankfurt, Germany, Richemont, pare, Unicredit, Italy
FTSE 100 inches up, still on track for worst weekly losses since Feb
  + stars: | 2021-05-14 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) -London’s FTSE 100 rose on Friday, but was on track to post its worst weekly performance since February on inflation worries, while Sanne Group topped the mid-cap index after rejecting a $1.90 billion buyout proposal. REUTERS/Peter NichollsThe blue-chip index rose 0.6%, with software company Sage Group adding 3.1% after reporting strong first-half organic recurring revenue and forecasting annual growth at the top end of its 3% to 5% range. The index is down 1.6% for the week, its biggest weekly fall since February. The domestically focused mid-cap FTSE 250 index advanced 0.7%. Alternative asset and corporate services firm Sanne Group jumped 25.7% after it rejected private-equity firm Cinven’s 1.35-billion-pound ($1.90 billion) buyout offer.
Persons: Peter Nicholls, brokerages, Jim Reid, Boris Johnson, we’ve, , Ian Williams, Peel Hunt Organizations: Reuters, Sanne, London Stock Exchange, REUTERS, Sage Group, Diageo, Federal, Deutsche Bank, Peel, Sanne Group Locations: London, Britain, Banks, England
Global stocks edged up after muted US jobs data relieved pressure on the Federal Reserve to react to an overheating economy. The data also calmed investors' inflation worries, which have driven bond yields up this year. Oil futures rose after a major US pipeline was targeted in a cyberattack over the weekend. The US Labor Department on Friday said just 266,000 non-farm jobs were added in April rather than the expected over 1 million. Oil futures rose after a key US pipeline was targeted in a cyberattack over the weekend.
Persons: Milan, Dow Jones, Jim Reid, Jeffrey Halley, APAC, OANDA, DAX Organizations: Federal Reserve, Bell, Global, US Labor Department, AxiCorp, Dow, Nasdaq, Tech, Service, Deutsche Bank, Nikkei, Shanghai, Thunderbirds, Brent Locations: Asia, East
Stocks traded near record highs as investors are optimistic about US employment data. Chinese and German trade data beat predictions, signalling a stronger-than-expected economic rebound. Global stocks traded near record highs on Friday, as traders and investors remained optimistic about US employment data due later in the day. Chinese trade data showed a jump in exports in April that pushed the country's trade surplus to $42.86 billion, a 32.3% year on year increase. Commodities continued to soar, as rising demand was reflected in global trade data, with copper reaching its highest in at least a decade.
Persons: Stocks, Jim Reid, Dow Jones, DAX, Milan, Axi, Jeffrey Halley Organizations: Bank of England, Bell, Global, Deutsche Bank, Nasdaq, British FTSE, Federal Reserve, Caixin, PMI, Nikkei, Commodities Locations: China, Shanghai, Asia
Big Tech is tightening its grip on the ads business
  + stars: | 2021-04-28 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +7 min
You can sign up right hereLondon (CNN Business) Big Tech companies continue to lap up huge amounts of money from advertisers as consumers spend more time online. The company posted revenue of more than $55 billion for the first quarter, up 34% from one year ago, when the pandemic sent the ads business diving. YouTube ads generated $6 billion in revenue, a 49% increase. Big picture: Google's power within the internet ecosystem is under the microscope from regulators around the world. The research firm thinks the business will pass the $20 billion mark this year — gains that could come at Google's expense.
Persons: Ruth Porat, Sophie Lund, Yates, Hargreaves Lansdown, Lund, Jerome Powell, they're, Jim Reid, Powell, Reid, Michelle Meyer, Joe Biden's, Biden, Paul R, Monica, Rosalind Brewer, Pat Gelsinger, atin, Joe Biden Organizations: CNN Business, Bell, CNN, Big Tech, Google, Regulators, Companies, Apple, Facebook, Fed, Federal Reserve, Deutsche, Bank of America, American, Walgreens WBA, Dow, Starbucks, Walmart, Intel, VMWare, Boeing, Garmin, eBay EBAY Facebook, Ford, MGM Resorts MGM Qualcomm, Federal Locations: London
GLOBAL MARKETS-Stocks dip on caution before Fed, earnings
  + stars: | 2021-04-27 | by ( Danilo Masoni | ) www.reuters.com + 0.00   time to read: +4 min
One area of concern was India, which is struggling with surging coronavirus infections that have overwhelmed its healthcare system. “There are yet to be any real punctures in the global risk balloon at the moment,” wrote Deutsche Bank strategist Jim Reid. In pre-market trade, Tesla shares fell more than 2% even after the electric car maker beat Wall Street expectations for first-quarter revenue. The Treasury saw very weak demand at a seven-year debt auction in February, which sparked a brutal global selloff. Ahead of the auction results, seven-year U.S. yields edged up to 1.2736%, while benchmark 10-year yields rose slightly to 1.5827%.
Persons: MILAN, , Jim Reid, , Brent, Jeffrey Halley, Treasuries, JPMorgan Chase, Bitcoin Organizations: Federal Reserve, Microsoft, . Companies, Deutsche Bank, HSBC, UBS, London Metal Exchange, Oil, Treasury, Bank of, JPMorgan Locations: Asia, Europe, U.S, India, Pacific, Japan, Europe’s, Chile, Bank of Japan
Stocks dip from record levels ahead of Fed
  + stars: | 2021-04-27 | by ( Danilo Masoni | Stanley White | ) www.reuters.com + 0.00   time to read: +4 min
MILAN (Reuters) - Shares dipped from record highs on Tuesday as optimism about the economic recovery was dented by caution ahead of the Federal Reserve’s policy decision and a raft of earning updates. S&P 500 futures rose almost 0.1%, while earlier the MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.06%. Bond traders were are also closely watching an auction of $62-billion of seven-year U.S. Treasuries later on Tuesday. The Treasury saw very weak demand at a seven-year debt auction in February, which sparked a brutal market selloff across the globe. Ahead of the auction results, seven-year U.S. yields edged up to 1.265%, while benchmark 10-year yields rose slightly to 1.573%.
Persons: Issei Kato, , Jim Reid, , Brent, Treasuries, JPMorgan Chase, Bitcoin Organizations: MILAN, U.S ., REUTERS, Microsoft, Deutsche Bank, Chile, London Metal Exchange, Oil, Treasury, Bank of Japan, JPMorgan Locations: Tokyo, Japan, Asia, Europe, Pacific, India, Osaka
Stocks dip on caution before Fed, earnings
  + stars: | 2021-04-27 | by ( Danilo Masoni | ) www.reuters.com + 0.00   time to read: +4 min
One area of concern was India, which is struggling with surging coronavirus infections that have overwhelmed its healthcare system. In pre-market trade, Tesla shares fell more than 2% even after the electric car maker beat Wall Street expectations for first-quarter revenue. Strong earnings sent shares in Europe’s biggest bank by assets HSBC up 2.6%, while UBS fell after a surprise hit linked to the collapse of hedge fund Archegos. The Treasury saw very weak demand at a seven-year debt auction in February, which sparked a brutal global selloff. Ahead of the auction results, seven-year U.S. yields edged up to 1.2736%, while benchmark 10-year yields rose slightly to 1.5827%.
Persons: Toby Melville, , Jim Reid, , Brent, Jeffrey Halley, Treasuries, JPMorgan Chase, Bitcoin Organizations: MILAN, Federal Reserve, London Stock Exchange Group, REUTERS, Microsoft, . Companies, Deutsche Bank, HSBC, UBS, London Metal Exchange, Oil, Treasury, Bank of, JPMorgan Locations: City, London, Britain, Asia, Europe, U.S, India, Pacific, Japan, Europe’s, Chile, Bank of Japan
Bitcoin falls 7% as cryptos stumble over Biden tax plans
  + stars: | 2021-04-23 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
LONDON, April 23 (Reuters) - Bitcoin and other cryptocurrencies suffered hefty losses on Friday amid fears that U.S. President Joe Biden’s plan to raise capital gains taxes will curb investment in digital assets. Bitcoin slumped 7% to $48,176 in a third straight session of losses while Ether and XPR suffered double digit tumbles. “The crypto currency came under fresh pressure on the Biden tax headlines,” Deutsche Bank’s Jim Reid wrote in a note to clients. Bitcoin, the world’s biggest cryptocurrency, is on track for a 15% loss on the week. However, the latest tumbles come in the wake of a sharp rally with Bitcoin still up 65% since the start of the year.
Persons: Joe Biden’s, Bitcoin, XPR, Jim Reid, Karin Strohecker, Tommy Wilkes Organizations: Biden, Deutsche Locations: London
* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates with quote, German Green Party news)LONDON, April 19 (Reuters) - Euro zone government bond yields were broadly steady on Monday, with markets largely on hold ahead of this week’s European Central Bank meeting. However, significant moves were likely to be limited before Thursday’s ECB meeting and most 10-year bond yields across the euro area were steady to a touch lower on the day. Bond markets are watching what the ECB says and does closely amid signs of disagreement among policymakers over the future pace of bond purchases especially once a recovery takes hold. “Too many displays of optimism are equally unadvisable, but the outlook has improved in the euro zone, if tentatively. In Germany, the Green party said Annalena Baerbock, co-leader of the party will run as its candidate for chancellor at federal elections in September.
Persons: Christine, Lagarde, , Antoine Bouvet, Stefan Legge, , Italy’s, Annalena Baerbock, Chancellor Angela Merkel’s, Jim Reid Organizations: German Green Party, Central Bank, ECB, Bond, , ING, University of St, Green, CDU, Greens, ” Deutsche Bank Locations: University of St Gallen, Switzerland, Germany
British midcaps hit record high; Equiniti Group shines
  + stars: | 2021-04-19 | by ( Reuters Devik Jain | Devik Jain | ) www.reuters.com + 0.00   time to read: +2 min
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoBritish shares rose on Monday, with midcaps hitting a record high, as gains in industrials and consumer discretionary stocks underpinned the market, while shares of Equiniti Group jumped on a non-binding acquisition proposal. The British outsourcer (EQN.L) jumped 13.8% after U.S. private equity firm Siris Capital tabled a 624.3 million pounds ($864.59 million) bid in an all-cash deal. read moreThe domestically focussed mid-cap FTSE 250 index (.FTMC) also gained 0.4% to touch a record high. "Markets are back to being a bit dull for now but pretty buoyant," Deutsche Bank strategist Jim Reid wrote in a note.
Persons: Toby Melville, drugmaker's, Jim Reid, Rightmove, Rishi Sunak, Johnson Matthey, Nornickel Organizations: London Stock Exchange Group, City of, REUTERS, Equiniti, Siris, AstraZeneca, drugmaker's COVID, Deutsche Bank, CPI, PPI, Thomson Locations: City, City of London, Britain, industrials, British, Philippines
Thanks, bitcoin! Traders say goodbye to quiet weekends
  + stars: | 2021-04-19 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +5 min
What's happening: After a hype-filled week, bitcoin suffered a flash crash on Saturday night, plunging nearly 14% in less than an hour. Bitcoin has been on a tear since November, rallying dramatically as companies and financial institutions like Tesla, Mastercard and BNY Mellon offered their backing. The blockbuster listing of crypto exchange Coinbase last week fed the enthusiasm, indicating widespread acceptance among investors. Peloton said there's "no reason" to stop using the machine if safety instructions are followed, including correctly using its safety key. Senior management, including CEO Noel Quinn, will no longer work from private rooms on the building's 42nd floor.
Persons: bitcoin, Bitcoin, BNY Mellon, Mike Novogratz, Novogratz, Jim Reid, Li Bo, there's, wasn't, Noel Quinn, Quinn Organizations: CNN Business, Bell, CNN, Tesla, Mastercard, BNY, Galaxy Digital, Treasury, Deutsche, People's Bank of, Winter, Consumer Product Safety Commission, HSBC, Senior, Financial Times, IBM IBM United Airlines Locations: London, China, People's Bank of China, Wharf
Dollar edges up as markets wait for U.S. inflation data
  + stars: | 2021-04-13 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, but was still near three-week lows as markets waited for inflation data in the United States. FILE PHOTO: A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. U.S. CPI data for March is due at 1330 GMT and is expected to show a rise in inflation to 2.4%. The inflation data “should further fuel the narrative that the U.S. economy is starting to overheat and are to likely add to concerns that the Fed’s firmly dovish message will be increasingly challenged,” ING said. Asian stock markets were broadly positive after the data, but the boost did little to support currency markets.
Persons: , Jim Reid, vaccinate, bitcoin Organizations: Treasury, REUTERS, ING, Swiss, ” ING, Deutsche Bank, U.S, New Zealand, Reserve Bank of New, Coinbase Global Inc, Nasdaq Locations: U.S, United States, Tokyo, London, Australia, Reserve Bank of New Zealand
Dollar edges up before U.S. inflation data
  + stars: | 2021-04-13 | by ( Elizabeth Howcroft | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, while riskier currencies dipped, as markets waited for inflation data in the United States. U.S. CPI data for March is due at 1230 GMT and is expected to show a rise in inflation. Asian stock markets were broadly positive after the data, but the boost did little to support currency markets. The Australian dollar, which is seen as a liquid proxy for risk appetite, was down 0.2% versus the U.S. dollar at 0.7609. The New Zealand dollar was steady .
Persons: Abraham Lincoln, Gary Cameron, Ned Rumpeltin, , Jim Reid, Rumpeltin, that’s, , vaccinate, Bitcoin Organizations: Treasury, Engraving, REUTERS, TD Securities, Deutsche Bank, U.S . Federal, U.S, New Zealand, Reserve Bank of New Locations: U.S, United States, Washington, London, Australia, Reserve Bank of New Zealand
US stock futures hovered near record highs as investors waited for key inflation data. Futures contracts for the major US stock indices were mixed on Tuesday, hovering near record highs as investors awaited key inflation data from the world's biggest economy. Dow Jones futures rose 0.1% and Nasdaq 100 futures were roughly flat. The main event on investors' radar on Tuesday will be US consumer price index inflation data, due at 8.30 a.m. Analysts expect Tuesday's data to show US CPI inflation rose to 2.5% in March from 1.7% in February.
Persons: Dow Jones, bitcoin, Jim Reid, Karen Ward, Goldman Sachs, Jan Hatzius, Brent Organizations: Bell, Dow, Nasdaq, Japan's Nikkei, CSI, FTSE, Deutsche Bank, JPMorgan Asset Management's, Treasury Locations: Europe
UPDATE 1- European stocks subdued as Credit Suisse weighs
  + stars: | 2021-03-29 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +3 min
The wider financial services index was the worst performer, losing 1.5%, while the banks sector, which includes Deutsche Bank and UBS, also slipped 1.1%. The pan-European STOXX 600 index edged 0.01% higher, mostly erasing opening gains with economy-linked mining , oil & gas and travel and leisure shares among the biggest decliners as French doctors warned a third wave of infections could soon overwhelm hospitals. The benchmark STOXX 600 has lagged its U.S. counterpart in the past six months as new lockdowns in the continent and a slower-than-expected vaccination programme dented the economic outlook for Europe. Poland’s CD Projekt jumped 8.3% to the top of STOXX 600 index after plans about the studio’s downloadable content for its Cyberpunk 2077 game leaked on Reddit. Gains in defensive sectors such as food & beverage <.SX3P utilities, media, which tend to decouple from the economic cycle, offered some support to the market.
Persons: Chancellor Angela Merkel, curfews, Jim Reid, DAX, Hugo Boss, Devik Jain, Shailesh Kuber Organizations: Suisse, Energy, Credit Suisse, Deutsche Bank, UBS Locations: U.S, Swiss, Europe, Xinjiang, Bengaluru
Inflation is the new issue haunting Americans, on Wall Street and Main Street alike. Yet an overshoot of expected inflation could spark a cycle of increasingly strong price growth that leaves consumers with diminished buying power. More recently, a survey from data firm CivicScience shows 42% of adults being "very concerned" about inflation, according to Axios. Inflation worries investors more than CovidAlso, institutional investors are shifting their focus from the pandemic to the risk of rampant inflation. Respondents aged 35 to 54 were still the most worried overall, with 48% saying they're "very concerned" and 36% saying they're "somewhat concerned," according to CivicScience.
Persons: BofA, Jim Reid, Reid, Arend Kapteyn, Matthew Luzzetti, Larry Summers, Summers, Organizations: Deutsche Bank, Federal Reserve, UBS, Bank of America
A container ship is blocking the Suez Canal, which is one of the busiest trade routes in the world. Oil rose by as much as 3% on Wednesday after a huge container ship ran aground and blocked the Suez Canal, a key shipping route for crude and refined products, which raised some concern about fuel supply. Throughout the pandemic and subsequent cycles of lockdowns and travel bans, oil prices have been highly volatile. Over the last 12 months, Brent crude oil prices have fluctuated from as little as $16 a barrel to as much as $71. "The reprieve seems temporary, though, as the spot price fall overnight has completely removed the backwardation in the oil futures market for prompt deliveries.
Persons: Brent, Jim Reid, Jeffrey Halley Organizations: Bell, Deutsche Bank Locations: Suez, lockdowns, Europe
Inflation is the new issue haunting Americans, on Wall Street and Main Street alike. Yet an overshoot of expected inflation could spark a cycle of increasingly strong price growth that leaves consumers with diminished buying power. Inflation worries investors more than CovidAlso, institutional investors are shifting their focus from the pandemic to the risk of rampant inflation. "With memories of the Great Inflation possibly already lifting inflation expectations for older age groups today, a more material drift higher in expectations likely would require a lift from the younger age groups," they added. This suggests that Americans' worries about future price growth — including warnings from Summers himself — could starve the US economy of healthy growth and rehash the last decade's plodding recovery.
Persons: BofA, Jim Reid, Reid, Arend Kapteyn, Matthew Luzzetti, Larry Summers, Summers, Organizations: Deutsche Bank, Federal Reserve, UBS, Bank of America
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