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☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ The US economy is in a Goldilocks period, and the Fed has a 'loaded gun' it can use if conditions worsen, Apollo co-president says
▼ + stars: | 2023-12-05 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The Fed has a "loaded gun" it can use if the Goldilocks economy worsens, Apollo Asset Management's co-president said. That's as the central back has kept rates high, giving policymakers room to lower them. "I would argue that the Fed put is back, sort of, on the market right now," James Zelter told Bloomberg TV. AdvertisementZelter noted the Fed has maintained "fairly high rates," which currently stand at 5.25%-5.5% — the highest since 2001 . Those Goldilocks conditions have helped stocks rocket upwards, as markets bet on the end of the Fed's rate hikes.

Persons: That's, James Zelter, —, Zelter, Mohamed El Organizations: Fed, Bloomberg, Service, Apollo Asset Management

☆ My hope is the Fed targets a 3% inflation instead of 2%, says Mohamed El-Erian
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMy hope is the Fed targets a 3% inflation instead of 2%, says Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, the state of the economy, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Fed, Erian, Allianz, Queens ' College , Cambridge

☆ The business world is shaken after the death of 'financial genius' Charlie Munger
▼ + stars: | 2023-11-29 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Charlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, died on Tuesday at age 99. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "Charlie Munger once offered what I consider to be the best life advice one can receive: 'How to find a good spouse? Still, others praised the former vice chairman of Berkshire Hathaway for his lifelong advocacy of education and philanthropy, with multiple users calling Munger a legend and "financial genius."

Persons: Charlie Munger, Warren Buffett's, Berkshire Hathaway, —, Charlie Munger's, @WarrenBuffett, Mohamed, Charlie, — Mohamed, Munger, Nancy Barry, Sahil Bloom, William Green Organizations: Berkshire, Service, Berkshire Hathaway Locations: Munger, LA

☆ Markets are too optimistic about the economy, and 3 drivers behind big stock gains face headwinds, Mohamed El-Erian says
▼ + stars: | 2023-11-28 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Markets are overly optimistic about the economy next year, Mohamed El-Erian said in a CNBC interview. Meanwhile, November's rally was driven by Goldilocks data, lower yields, and lower oil prices. According to the top economist, markets are overly optimistic about the economy next year. And thirdly, I don't think OPEC is going to stay quiet to see oil prices where they are now." AdvertisementAnd finally, falling oil prices may not sit well with OPEC+ countries, like Saudi Arabia and Russia, who have been slashing production to prop up oil prices.

Persons: Mohamed El, Erian, —, they've, I'm, Treasurys, there's Organizations: CNBC, Service, Federal, West Texas Locations: Saudi Arabia, Russia

☆ Charlie Munger death: Warren Buffett’s business partner in Berkshire Hathaway passes away, aged 99
▼ + stars: | 2023-11-28 | by ( Paul R. La Monica | Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday morning in a California hospital. Charles Thomas Munger, known by his nickname, “Charlie,” was born on January 1, 1924, in Omaha, Nebraska. Buffett told CNBC in 2021 that after their first meeting, he knew “I’m not going to find another guy like this …. “If people weren’t so often wrong, we wouldn’t be so rich,” Munger said during a 2015 Berkshire Hathaway annual shareholders meeting.

Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, Munger, Charles Thomas Munger, “ Charlie, ”, Wall, Munger’s, “ Berkshire Hathaway, Charlie, Mohamed El, ” Whitney Tilson, Buffett, “, ” Munger, “ I’m, CNN Munger, — CNN’s Nicole Goodkind Organizations: New, New York CNN, Berkshire, US Army, University of Michigan, Harvard Law School, Berkshire Hathaway, Erian, Allianz, CNN, Forbes, CNBC, Xerox, Daily Journal Locations: New York, “, ”, California, Omaha , Nebraska, Southern California, Japan, Omaha, Berkshire, Munger, Los Angeles

☆ The investing world reacts to death of Berkshire legend Charlie Munger
▼ + stars: | 2023-11-28 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett's Berkshire Hathaway , on Tuesday. "So sad to hear the news of the passing of Charlie Munger," El-Erian wrote. Mario Gabelli, chairman and CEO of Connecticut-based GAMCO Investors, wrote on Twitter: "Charlie Munger ….a titan has passed …all will miss Charlie." "Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. "Charlie Munger was a brilliant attorney," Annandale Capital chairman George Seay said Tuesday evening on Yahoo Finance.

Persons: Charlie Munger, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Munger, Ariel Investments, Charles Bobrinskoy, Mohamed El, PIMCO, Erian, Mario Gabelli, Charlie Munger …, Charlie, Tim Cook, Cook, Stephanie Link, Hightower, Whitney Tilson, Tilson, George Seay, Wesley Chan, Chan, —, Christina Cheddar Berk, Brian Evans, Alex Harring Organizations: Warren, Allianz, Twitter, Apple, Berkshire, Hightower Advisors, Berkshire Hathaway, CNBC, Yahoo Finance, Daily, Costco Locations: Munger, Connecticut, Berkshire, American, California, Annandale, FPV

☆ Upside surprise has led people to be overly optimistic about next year, says Mohamed El-Erian
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUpside surprise has led people to be overly optimistic about next year, says Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, economic outlook, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Erian, Allianz, Queens ' College , Cambridge

Ten-year Treasury yields hit a 16-year high of 5.021% in late October, but have fallen back to 4.414%. Some big investors and advisers believe, however, that reasons to cheer are short-lived and growing concerns over the economy will start weighting on asset prices early next year. His focus now is more on earnings, credit markets and broader economic data for signs of a potential slowdown. The U.S. presidential race next year is also a concern because it could be a source of more market instability. For a new boost in market performance, tech stocks will depend more on showing how AI can lift results, investors said.

Persons: We've, Ryan Israel, Bill Ackman's, Mohamed El, Peter van Dooijeweert, Max Gokhman, Franklin Templeton, Bill Gross, van Dooijeweert, Carolina Mandl, David Randall, Svea, Bayliss, Megan Davies, Leslie Adler Organizations: Nasdaq, Bill Ackman's Pershing, Capital Management, Allianz, Group's Solutions, U.S, Reuters, Microsoft, Wall, Svea Herbst, Thomson Locations: extrapolating, U.S, China

☆ What's priced in for rate cuts next year 'is probably too aggressive', says Mohamed El-Erian
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat's priced in for rate cuts next year 'is probably too aggressive', says Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the latest market trends, why he believes the 'narrative ping pong' about the type of economic landing market analysts are expecting is far from over, the Fed's inflation fight, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Erian, Allianz, Queens ' College , Cambridge

☆ The Fed's next move will be to cut rates as the drop in inflation was a 'gamechanger,' former PIMCO chief economist says
▼ + stars: | 2023-11-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed's next rate move will be to cut rates, former PIMCO chief economist Paul McCulley said. Some forecasters say the Fed will slash interest rates by nearly three percentage points next year. Most significant is the "crack" in shelter inflation, McCulley said, which rose 6.7% year-over-year in October. AdvertisementInvestors will debate over when the Fed will cut rates, he added, though most are expecting the first rate cut to happen sometime next year. Some economists, though, have cautioned that the Fed risks easing interest rates prematurely, which could eventually lead to a resurgence in inflation down the line.

Persons: Paul McCulley, McCulley, —, That's, we've, Mohamed El Organizations: Service, CNBC, UBS, Fed

☆ Are US Treasurys still a safe-haven asset? An epic bond-market crash and rising default fears are sowing doubts.
▼ + stars: | 2023-11-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Financial markets have been engaged in a growing debate over the risks that lurk in Treasurys, with prominent voices raising doubts. AdvertisementAdvertisementIn March, a Richard Bernstein Advisors note said spreads on credit default swaps have climbed for Treasurys since since 2011, when the federal government was issued its first credit downgrade. Then came this spring's debt-ceiling drama and the US credit downgrade in August from Fitch, which cited the rising debt burden and political dysfunction. If a downgrade follows, then US debt wouldn't be in the safest category for default risk at any of the three major ratings agencies. Several auctions for long-dated Treasurys have seen weak demand, and buyers are demanding higher compensation for the risk of carrying Treasurys.

Persons: —, Moody's, they've, Mohamed El, Erian, Asset's Seema Shah, Treasurys, Richard Bernstein, Gennadiy Goldberg isn't Organizations: Service, Federal, CNBC, Dallas Federal, Richard Bernstein Advisors, Fitch, Penn Wharton Budget, Securities Locations: Treasurys, there's, US

☆ Brace for a sharp inflation drop that still won't be enough to return the economy to normal, top economist Mohamed El-Erian says
▼ + stars: | 2023-11-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Inflation will drop sharply, but prices won't get back to the Fed's 2% target soon, Mohamed El-Erian said. AdvertisementAdvertisementThe economy will soon see a sharp drop in inflation – but that still won't be enough to return it to the central bank's target, according to top economist Mohamed El-Erian. Headline inflation accelerated 3.7% year-per-year in September, slightly above the expected 3.6% clip. Meanwhile, core inflation accelerated 4.1% year-per-year, in-line with economists' forecasts. Headline inflation is expected to accelerate 3.28% year-per-year, while core inflation is expected to remain mostly level at 4.16%, according to the Cleveland Fed's Inflation Nowcast.

Persons: Mohamed El, Erian, —, Goldman Sachs, Neel Kashkari, Powell Organizations: Bloomberg, Service, Allianz, Federal, Minneapolis, of Labor Statistics, Cleveland

☆ We cannot have a Fed that is reacting to yesterday's data all the time, says Mohamed El-Erian
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe cannot have a Fed that is reacting to yesterday's data all the time, says Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the Fed's inflation fight, why he believes the four most important central banks effectively called a 'time out' on policy action over the last two weeks and should use the strategy wisely, economic outlook, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Erian, Allianz, Queens ' College , Cambridge

☆ The escalating Israel-Hamas conflict raises risks of global market contagion, economist says
▼ + stars: | 2023-10-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Mohamed Aly El-Erian, chief economic advisor for Allianz SE, during a Bloomberg Television interview in London, UK, on Monday, Sept. 25, 2023. El-Erian spoke alongside former UK Prime Minister Gordon Brown and economist Michael Spence, his co-authors for their book Permacrisis: A Plan to Fix a Fractured World. Photographer: Chris Ratcliffe/Bloomberg via Getty ImagesAs the Israel-Hamas war draws into into its fourth week, the risks to the global economy are rising, economist Mohamed el-Erian said Monday. The impact on global markets in response to the onset of the war was initially limited, as investors first assessed that the conflict was contained. "It is terrible in terms of economic prospects for the epicenter for the war," she said.

Persons: Mohamed Aly El, Erian, Gordon Brown, Michael Spence, Chris Ratcliffe, Mohamed el, CNBC's Dan Murphy, Israel, Kristalina Georgieva Organizations: Allianz, Bloomberg Television, Bloomberg, Getty, AIM, Federal, International Monetary Fund Locations: London, Israel, Gaza, Dubai, Iran, Lebanon

☆ Buyers are hesitant in view of what's happening to the supply of government debt: Mohamed El-Erian
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuyers are hesitant in view of what's happening to the supply of government debt: Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the latest market trends, the state of the economy, volatility in the Treasury market, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Erian, Allianz, Queens ' College , Cambridge, Treasury

☆ Treasury bonds are losing their status as safe-haven assets, Mohamed El-Erian says
▼ + stars: | 2023-10-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Treasury market seems to be losing its appeal as a safe-haven investment, Mohamed El-Erian told CNBC. Assets that aren't usually deemed as risk-free, such as bitcoin and equities, are becoming the new safe havens. AdvertisementAdvertisementThe Treasury market is losing its appeal as a safe haven, Mohamed El-Erian told CNBC on Thursday. Traders' faith in the bond market has only plummeted since, amid the fear of higher interest rate risks, El-Erian said. Speaking with CNBC, he acknowledged that any long-term lack of Treasury buyers could force the Fed to begin adding bond assets to its balance sheet.

Persons: Mohamed El, Erian, —, outpace Treasurys, resiliency Organizations: Treasury, CNBC, Service, Traders, Federal Reserve Locations: Israel, bitcoin

☆ Strong GDP growth isn't a sign the US has escaped a recession, and interest rates are a big headwind to economic activity, top economist Mohamed El-Erian says
▼ + stars: | 2023-10-26 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

The strong GDP report isn't a sign the US has dodged a recession, Mohamed El-Erian said. High interest rates still pose a big threat to households, business, and the US government. AdvertisementAdvertisementWhile the GDP numbers underscore US "exceptionalism," El-Erian said, high interest rates are impacting all corners of the economy, and that's something to watch out for. "Secondly, what's been happening in the interest rate market is really problematic. Expecting interest rates to remain higher for the foreseeable future, the bond market has witnessed a historic sell-off in recent months.

Persons: Mohamed El, Erian, —, it's, I've Organizations: Service, Fed, Treasury

☆ What it will take to make homes affordable again for millions of Americans
▼ + stars: | 2023-10-25 | by ( Tim Mullaney | ) www.cnbc.com time to read: +12 min

"At the current 8% mortgage rate, mortgage payment[s] are 38% of median income," Moody's Analytics chief economist Mark Zandi said. The National Association of Realtors measures affordability through its 34-year old Housing Affordability Index, or HAI. And even if home prices do the decline, that trend won't be sustainable unless America builds millions of more homes. And spreads will likely remain extra-wide until short-term interest rates drop below the rates on longer-term treasuries, Duncan said. "Mortgage rates will not go back to 3% – we'll be lucky if we get back to 5," Yun said.

Persons: —, John Burns, maven Mohamed El, Lawrence Yun, Yun, Mark Zandi, That's, Doug Duncan, Fannie, Duncan, Daryl Fairweather, They've, Fairweather, they've, Freddie Mac, –, Zandi, it's Organizations: Nurphoto, Getty, National Association of Realtors, John Burns Real Estate Consulting, NAR, Redfin, Allianz, America, Federal Reserve, realtors, Builders, Fed Locations: Florida, Austin , Texas, Boise , Idaho, Fannie Mae, America, New York, California, Phoenix, Tampa, Louisville, Indianapolis, Chicago

☆ The market has lost its 'policy, technical and economic' anchors, says Mohamed El-Erian
▼ + stars: | 2023-10-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market has lost its 'policy, technical and economic' anchors, says Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the latest market trends, surging Treasury yields, the Fed's inflation fight, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Erian, Allianz, Queens ' College , Cambridge

☆ The Treasury bond market is headed for an unknown destination as it sheds key anchors, Mohamed El-Erian says
▼ + stars: | 2023-10-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Treasury bond market is headed for an unknown destination, Mohamed El-Erian wrote in the Financial Times. "The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects." AdvertisementAdvertisementThe Treasury bond market is headed for the unknown as it sheds key anchors, economist Mohamed El-Erian wrote in the Financial Times. "The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects," he said. But the continued resilience of the bond market is not something investors should take for granted, he warned.

Persons: Mohamed El, Erian, — Organizations: Treasury, Financial Times, Service, Federal Reserve, Allianz, US, Treasury Department

☆ The crisis in the Middle East could fuel a flare-up in inflation and hasten an economic slump for the US
▼ + stars: | 2023-10-10 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Iran becoming embroiled in the crisis would be bad news for the US economy, according to analysts. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementIran becoming embroiled in the crisis gripping the Middle East could have disastrous knock-on effects for the US economy, analysts have warned. So this is why the big question for the markets and for the economy is whether you get escalation," he added.

Persons: —, Brent, LPL, Quincy Krosby, Pierre Andurand, David Donabedian, Mohamed El, Erian Organizations: Service, West Texas, Wall, CIBC Private Wealth, Treasury Locations: Israel, Iran, Tel Aviv, Tehran, Hamas, Ukraine, Russia, China

☆ The key question for markets is whether the Israel-Hamas conflict is contained: Mohamed El-Erian
▼ + stars: | 2023-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe key question for markets is whether the Israel-Hamas conflict is contained: Mohamed El-ErianMohamed El-Erian, Allianz chief economic advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the latest market trends, the impact of the Israel-Hamas conflict and geopolitical tensions, and more.

Persons: Mohamed El, Erian Mohamed El Organizations: Erian, Allianz, Queens ' College , Cambridge Locations: Israel

☆ Insider Today: Market's crash landing
▼ + stars: | 2023-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The core question it presents is whether personal AI devices could have the same impact that the iPhone had on the tech industry. Meta's Responsible AI team shrank amid layoffs and restructuring. Yet the team tasked with ensuring that new AI tech was "fair and inclusive" is half the size it was in 2021. Yet the team tasked with ensuring that new AI tech was "fair and inclusive" is half the size it was in 2021.

Persons: —, Benjamin Netanyahu, Insider's Matthew Fox, Mohamed El, Matthew, Jerome Powell, hasn't, mavens, Izzy Englander, Citadel's Ken Griffin, Point72, Steve Cohen, Phil McCarten, Dave Kotinsky, Shaw, Victor Virgile, Arantza Pena Popo, Bella Hadid, John Lennon, Ben Shelton, Sharon Osbourne, William Hanson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Hamas, Saturday, Israeli, Citadel, federal, Tech, Peoples, Indian Heritage Locations: Israel, D.E, Cupertino, China, South Dakota, Oklahoma, Hawaii, Alabama, Dakota, Los Angeles, New York City, San Diego, London, New York

☆ These three things happening now usually 'break something' in markets, El-Erian says
▼ + stars: | 2023-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Investors face a triple threat that in the past have been consistent with trouble, economist Mohamed El-Erian said Monday. "Historically, those three things happening break something ," El-Erian, the chief economic advisor at Allianz and president of Queens' College Cambridge, said during a CNBC "Squawk Box" interview. "They tend to break something in the financial system, and the market concern is that we haven't even finished with interest rate risk." US10Y YTD mountain 10-year Treasury yield - YTD The U.S. bond market was closed Monday for Columbus Day. "The big question for the markets and for the economy is whether you get escalation," El-Erian said.

Persons: Mohamed El, Erian Organizations: U.S ., Allianz, Queens ' College Cambridge, CNBC, Columbus Day Locations: Gaza, Treasuries, Israel

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