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☆ A 4,400,000% return and a $168 billion cash pile. Here are 6 juicy nuggets from Warren Buffett's new letter.
▼ + stars: | 2024-02-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Berkshire is making bank on bonds, and its $168 billion cash pile is worth more than Uber or Nike. Assets aplentyBerkshire held $561 billion of net assets at the end of December, a 19% increase from a year earlier. Berkshire's $1 trillion-plus of assets included $354 billion of stocks, $178 billion of property and equipment, $130 billion of Treasury bills, and $24 billion of inventories. That figure is larger than the value of General Electric ($167 billion), Comcast ($166 billion), Uber ($162 billion), Nike ($160 billion), Walmart ($159 billion), American Express ($156 billion), or Pfizer ($155 billion). The upshot is that on December 31, Berkshire held $354 billion of stocks, and $168 billion of cash and other short-term investments — a ratio of nearly 2:1.

Persons: Warren Buffett's, Buffett, —, Warren Buffett, you'd, Cash, Treasuries, Charlie Munger Organizations: Berkshire Hathaway's, Nike, Service, Berkshire Hathaway, Berkshire, aplenty, Berkshire's, Electric, Comcast, Walmart, American Express, Pfizer, Federal Reserve Locations: Berkshire, aplenty Berkshire, Omaha

☆ Mortgage rates rise for the third week in a row to 6.9%
▼ + stars: | 2024-02-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Mortgage rates climbed for the third week in a row, inching closer to 7%. Mortgage rates have been making smaller moves over the past two months, after coming down from last year’s high, 7.79%, reached in October. Historically, Khater said, the mix of a strong economy and higher rates didn’t meaningfully impact the housing market. “In essence, Federal Reserve officials are seeking more concrete evidence of sustained improvement in inflation before making any changes,” she said. “The recent increase in mortgage rates has the potential to slow the market by disrupting the plans of many buyers, especially in a market where a significant number of consumers are anticipating lower mortgage rates, not higher,” said Xu.

Persons: Freddie Mac, who’ve, “, ”, Sam Khater, Freddie Mac’s, Khater, Jiayi Xu, Powell’s, Xu Organizations: DC CNN —, Federal Reserve, Realtor.com, Federal, Mortgage, Association Locations: Washington

☆ Mortgage rates rise for the second week, reaching 6.77%
▼ + stars: | 2024-02-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —After treading water for months, US mortgage rates jumped higher Thursday following a string of strong employment and inflation reports. “On the heels of consumer prices rising more than expected, mortgage rates increased this week,” said Sam Khater, Freddie Mac’s chief economist. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The addition of needed inventory and the prospect of lower mortgage rates this year may spur buyers to jump into the market. “This spring, buyers are likely to see lower mortgage rates than in the fall of 2023, which may mean more eager buyers in the market,” Jones said.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit, Broeksmit, Jerome Powell, Hanna Jones, who’ve, Lisa Sturtevant, Jones, Alicia Huey, ” Jones Organizations: DC CNN, “, Mortgage Bankers Association, Labor Department, Federal Reserve, Realtor.com, National Association of Home Builders Locations: Washington, ”

☆ A lower-cost way to play the S&P 500's run to 5,000
▼ + stars: | 2024-02-08 | by ( Michael Khouw | ) www.cnbc.com time to read: +8 min

The S & P 500 once again closed at a new all-time high, achingly close to 5,000 for those enamored of nice round numbers. .SPX 1Y mountain S & P 500, 1-year Is there an option trade we can use if we're not sure? If S & P earnings grow closer to their historical average, then $240ish (let's stick to round numbers) might be a more accurate estimate. $240 a shares multiplied by 20 = $4,800 in the S & P. So in that context 5,000 is a little rich, but not much. The VIX Index , a measure of 30 day volatility in the S & P 500, is below 13, cheaper than usual.

Persons: we're, Jeremy Grantham, Paul Krugmans, aren't Organizations: Investors, Nvidia Locations: China, U.S

☆ Treasury sells $42B in 10-year notes
▼ + stars: | 2024-02-07 | 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 EmailTreasury sells $42B in 10-year notesCNBC's Rick Santelli joins 'The Exchange' to report on the record US$42 billion sale of 10-year Treasuries.

Persons: CNBC's Rick Santelli Organizations: Treasury

☆ Here are 3 ways the labor market is showing concerning deterioration underneath strong headline numbers — meaning a recession and stock-market sell-off could sneak up on investors
▼ + stars: | 2024-02-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market smashed expectations in January, adding 353,000 new jobs, far above economist forecasts of 187,000. Despite the strong headline number, however, there are signs that the job market is deteriorating beneath the surface. For one, the Bureau of Labor Statistics' household survey is showing some divergence from its payroll survey. "High labor and credit costs are beginning to materially impact corporate profits, which impacts both the labor market and (eventually) the default rate." Still, while there are signs of weakening, there are also signs of improvement in the labor market.

Persons: —, Jeff Schulze, today's, Shulze, Louis Fed, Lance Roberts, Ian Shepherdson, Lauren Goodwin Organizations: Service, Federal Reserve, Business, of Labor Statistics, BLS, of Labor, ClearBridge Investments, RIA Advisors, National Federation of Independent Business, Pantheon, Bank of America's Global, New York Life Investments, ClearBridge

☆ Dollar poised for weekly decline; US jobs data up next
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +4 min

The dollar index was last at 103.02 and on track for its first weekly decline for the year. The New Zealand dollar rose 0.07% to $0.6149 and was on track for a weekly rise of nearly 1%, its best performance in over a month. It was poised for a weekly gain of nearly 1.3%, its best week in over a month. That highlighted a growing view within the board that conditions were falling in place to soon pull short-term interest rates out of negative territory, which would be Japan's first interest rate hike since 2007. Data on Thursday showed euro zone inflation eased as expected last month but underlying price pressures fell less than forecast, likely boosting the European Central Bank's argument that rate cuts should not be rushed.

Persons: Jerome Powell, Ray Attrill, Raf Choudhury, BoE, Thierry Wizman Organizations: Federal Reserve, New Zealand, National Australia Bank, Friday's, Analysts, Bank of Japan's, Bank of England, Monetary, European Locations: Abrdn, U.S

☆ Dollar hovers near 7-week high as Fed cut bets shift to May
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person seen holding a 100 US dollar bill in his hand. The dollar has been buoyed by U.S. economic data suggesting the Fed can wait longer before cutting interest rates. Powell gave the currency another push overnight by calling a cut in March "not the base case." Traders are now pricing in a 38% probability the Fed will cut rates in March, down from 59% ahead of the Fed decision. Against Japan's currency, the dollar drifted 0.06% lower to 146.81 yen , adding to Wednesday's 0.47% decline.

Persons: Jerome Powell, Powell, Hogan, Riley, Sean Callow Organizations: Federal, Treasury, U.S, New, Bancorp, Fed, Traders, New York Community Bancorp, Investors, UST, Westpac, U.S . Locations: U.S, New York

☆ Here's why the Fed rate cuts are coming
▼ + stars: | 2024-01-29 | 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 EmailHere's why the Fed rate cuts are comingKomal Sri-Kumar, Sri-Kumar Global Strategies president, joins 'Money Movers' to discuss why a rally is ahead for Treasuries and equities markets could struggle, why the economy hasn't already seen a crack from the consumer, and more.

Persons: Kumar Organizations: Kumar Global

☆ Premarket stocks: why over-optimistic investors may want to pump the brakes
▼ + stars: | 2024-01-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

There’s plenty for investors to celebrate right now, but a look under the hood reveals quite a bit of decay. But it’s largely Big Tech that’s driving markets higher, and that concentration of gains in so few stocks carries inherent risk. But investors are adjusting expectations: Investors eventually get used to strong data, and come to expect it. “It’s hard for data to keep surprising in the same direction, since investors simply adjust their expectations,” said Allen. Just one month ago, more than 75% of investors thought the central bank would cut rates at their March meeting.

Persons: Bell, Debbie Downer, Wall, Dow, Germany’s DAX, Henry Allen, ”, Allen, Christopher Waller, That’s, Bill Gates, Larry Fink, Chris Isidore, “ I’m, Scott Kirby, they’ve, ” Kirby, Boeing Max, Max, Kirby, “ We’re, Samantha Delouya, Amy Reinhard, Netflix’s, “, we’ve Organizations: CNN Business, Bell, New York CNN, Nvidia, Microsoft, Investment, Deutsche Bank, Big Tech, Federal Reserve, University of, National Association of Business Economics, University of Michigan, Fed, ” Financial, BlackRock, Boeing United Airlines, Boeing, United, CNBC, Alaska Airlines, Federal Aviation Administration, United Airlines, Refinitiv, Max, FAA, Netflix Locations: New York, Europe

☆ Stock market hits new high after 2 years, overcoming a nasty inflation period and surging rates
▼ + stars: | 2024-01-22 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The long wait between S & P 500 all-time highs is a friendly factor for forward performance, as far as historical observations go. John Kolovos of Macro Risk Advisors says, "It is OK to be bullish on the stock market (S & P 500) just not the market of stocks (everything else)," from a trend-following perspective. Barry Knapp of Ironsides Macroeconomics calculates that the equal-weight S & P is one standard deviation cheap versus the market-cap-weighted index. Remarkably, the S & P 500 first pushed above 19-times forward earnings exactly four years ago, right before the Covid crash. Well, the S & P 500 has delivered an annualized total return near 11% in the four years since.

Persons: Ned Davis, Wayne Whaley, Whaley, I've, haven't, John Kolovos, Barry Knapp, Knapp, USTs, it's, hasn't Organizations: Ned Davis Research, Foresight, Federal, noncommittal, Nvidia, Nasdaq, Deutsche Bank

The idea of using Russia's frozen assets is gaining new traction lately as continued allied funding for Ukraine becomes more uncertain and the U.S. Congress is in a stalemate over providing more support. Bipartisan legislation circulating in Washington called the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act would use assets confiscated from the Russian Central Bank and other sovereign assets for Ukraine. Belgium, which is holding the rotating presidency of the European Union bloc for the next six months, is now leading the talks on whether to seize Russia's assets. Belgium is also the country where most frozen Russian assets under sanctions are being held. Maria Snegovaya, a senior fellow at the Center for Strategic and International Studies, cautioned that if Ukraine's immediate needs aren't met, “no amount of seized Russian assets is unfortunately going to compensate for what may happen."

Persons: — It's, Volodymyr Zelenskyy, “ Putin, ”, ” Biden, Penny Pritzker, “, Nicholas Mulder, Vladimir Putin, Shalanda Young, ” Young, ” Sergey Aleksashenko, Treasuries —, Konstantin Malofeyev, Alexander De Croo, De Croo, Maria Snegovaya, aren't, Ellen Knickmeyer, Lisa Mascaro, Seung Min Kim, Zeke Miller, Aamer, Sam Petrequin, Jamey Keaton Organizations: WASHINGTON, Russian Central Bank, U.S ., U.S, ., ”, Ukraine, Russia, Cornell University, Washington, Russia's Central Bank, White, Management, Russian Central Banker, Russian, Justice Department, State Department, European Union, Belgian, Center for Strategic, International Studies, Associated Press Locations: United States, Ukraine, Davos, Switzerland, Ukrainian, Washington, “, America, Russia, Russian, U.S, China, Frankfurt, Belgium, Brussels

☆ Mortgage rates inch up for the second week in a row, landing at 6.66%
▼ + stars: | 2024-01-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates ticked up this week for the second week in a row, but remain more than a full percentage point lower than their high last year. The 30-year fixed-rate mortgage averaged 6.66% in the week ending January 11, up from 6.62% the previous week, according to data from Freddie Mac released Thursday. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Lower mortgage rates expected to bring new inventoryWhile mortgage rates trending lower is welcome news for homebuyers, those in the market are still dealing with the double whammy of low inventory and high home prices that continue to rise. But, she added, the pace of mortgage rates declining is likely to be slower going forward than the dramatic nine-week drop at the end of 2023.

Persons: Freddie Mac, who’ve, ”, Sam Khater, Freddie Mac’s, That’s, Jiayi Xu, Xu Organizations: DC CNN —, “, Federal, Treasury Locations: Washington

☆ Some options trades for avoiding an asset bubble and other macroeconomic troubles
▼ + stars: | 2024-01-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +9 min

There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. The standard 30-year fixed mortgage rate rose even further, a function of both the rising risk-free rate and the rising spread. Buying bonds has interest rate risk. Moreover, the spread between mortgage rates and Treasuries is unusually high. Risk-free rates stay static or even rise mildly, but if the spread narrows mortgage rates could fall, a tailwind for a mortgage portfolio.

Persons: There's, Murray Rothbard, Milton Friedman, Ben Bernanke, Bernanke's, Janet Yellen, Jerome Powell, Howard Marks, Charlie Munger, Berkshire Hathaway, Marks, Steve Eisman, Neuberger Berman, they've Organizations: Federal Reserve, Fed, Federal Reserve Bank, Vanguard Value, Technology, MBS Locations: U.S, deflate, Berkshire

☆ A look back at a remarkable stock market year, and what should worry investors into 2024
▼ + stars: | 2023-12-28 | by ( Bob Pisani | ) www.cnbc.com time to read: +10 min

A few days ago, S & P noted that the S & P 500 total return of 25.85% would only be up 9.49% ex the Magnificent 7. If you own the S & P 500 long-term, you are participating in those gains. The S & P is up 1,200 points (25%) since then and is knocking on the door of an historic high. The S & P 500 is overbought and expensive on most metrics. The S & P 500 up almost 25% in a year is the kind of problem a lot of people would be happy to have.

Persons: Russell, YTD, General Mills, it's, Staples, Campbell, Mills Organizations: AMD, Arista Networks, Apple, Meta, Nvidia, Nasdaq, Nike, FedEx, General, NextEra, Utilities, Treasuries Locations: Russia, Ukraine, Israel, Wayfair, Devon, Chevron

☆ Morning Bid: Small caps pick up baton, China rating hit
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The likes of Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O) and Amazon (AMZN.O) fell back over 1%, pressured by a modest bounceback in U.S. Treasury yields. China's blue-chip stocks slumped to their lowest since February 2019 amid fears of a possible cut to China's sovereign credit rating cut after Moody's outlook reduction. By Mike Dolan, Editing by Bernadette Baum; <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Russell, that's, Moody's, Isabel Schnabel, Michael Gibson, Christine Laggard, Mongo, Zero Fox, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Reserve, Microsoft, Apple, Nvidia, Treasury, Reserve Bank of Australia, Central Bank, Reuters, ECB, Barclays, Qatar, P Global, Federal, Division, Supervision, Financial Innovation, Descartes Systems, Health, Powell Industries, Dave, Buster's Entertainment, Reuters Graphics, Thomson Locations: New York City, U.S, Global, York, Treasuries, Europe

☆ Central bank blunders undermine tough rate talk
▼ + stars: | 2023-12-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Comments by central bankers underline their desire to keep interest rates high until price growth quiesces. Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real. U.S. Federal Reserve Chair Jay Powell says his fellow policymakers are “not thinking about rate cuts at all”. In May, after another U.S. regional bank failure, markets concluded that the Fed’s rate hike at the beginning of that month would be its last. Respected central bankers might be able to convince markets that these numbers don’t portend imminent rate cuts.

Persons: Jay Powell, Christine Lagarde, Andrew Bailey, Powell, backtrack, –, Lagarde, Treasuries, BoE, Bailey, Ben Bernanke, Jacob Frenkel, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, Traders, U.S . Federal, European Central Bank, Bank of England, titans, Deutsche Bank, Treasury, Reuters Graphics Reuters, LSEG, Silicon Valley Bank, Fed, ECB, Bank of Israel, Federal Reserve, European, Thomson Locations: Silicon, Bailey, United States, Ukraine, Central

SINGAPORE, Dec 5 (Reuters) - Asian stocks slipped to three-week lows on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data. The Australian dollar fell 0.5% after the central bank left interest rates on hold, as expected, and emphasised that the future direction rates would depend on data. Japan's Nikkei (.N225) was dragged 1% lower to a three-week trough, mostly thanks to falling chipmaking stocks. Treasuries had come under a little pressure overnight as traders calibrated pretty aggressive pricing for U.S. interest rate cuts. The Reserve Bank of Australia left interest rates on hold and said, as it had a month ago, that future rate settings would depend on data.

Persons: Treasuries, Kim Coghill Organizations: Japan's Nikkei, ANZ, New, Reserve Bank of Australia, Brent, U.S . Department of Agriculture, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, New Zealand, Tokyo, China

☆ Morning Bid: Gold makes the running as oil fails to fire
▼ + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Oil failed to sustain an early rally that followed news of attacks on commercial shipping in the Red Sea. Notably, oil prices lost early gains and Brent eased around 57 cents to $78.31 a barrel amid doubts that OPEC+ would be able to maintain planned output cuts, particularly by some African countries. At the same time, U.S. oil output is at record levels above 13 million barrels a day and rig counts are still rising. A commodity faring better is gold, which surged suddenly this morning to top $2,111 an ounce for the first time before paring the gains to $2,086. Yields on U.S. two-year notes rose almost 4 bps, but that follows a drop of 40 bps last week.

Persons: Alexander Manzyuk, Wayne Cole, Treasuries, Yemen's, Brent, Bundesbank, Christine Lagarde, Bonds, Goldman Sachs, Anna Breman, Riksbank, Edmund Klamann Organizations: REUTERS, Bulls, ECB, Thomson Locations: Novosibirsk, Siberian, Russia, Wayne, Red, U.S, Saudi Arabia

☆ Bull market in view after S&P 500 hits fresh year-high
▼ + stars: | 2023-12-04 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

A close above 4,796.56 on the S&P 500 would confirm that the index has been in a bull market since bottoming out on Oct. 12, 2022, by one commonly used definition. By that definition, the bear market that began when the S&P 500 hit its previous record on Jan. 3, 2022 was not particularly painful. The S&P 500 closed down 25.4% at its lowest point, making this the fourth shallowest bear market experienced by the index since 1928, according to data from Yardeni Research. Over the last 50 years, the S&P 500 has risen an average of 16% in the three-month period leading up to a bull market. By contrast, the S&P 500 has logged average gains of just 0.2% and 2.0%, in the one-month and three-month period after a bull market is confirmed.

Persons: Carlo Allegri, San Francisco Fed, Saqib Iqbal Ahmed, Ira Iosebashvili, Lisa Shumaker Organizations: St, REUTERS, Yardeni Research, Reuters, San Francisco, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Gold prices have never been this high
▼ + stars: | 2023-12-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Gold prices hit an all-time high Monday, buoyed by growing expectations of interest rate cuts among investors, a weaker dollar and geopolitical tensions. “This has created a more favorable environment for gold as a non-yielding asset.”John Reade, a market strategist at the World Gold Council, an association of gold producers, told CNN that, with investors predicting several rate cuts over the next year, gold prices could “quite possibly” shoot above Monday’s record high. Since gold is priced in US dollars, the fall in the greenback’s value has made it less expensive for investors outside the United States to buy the metal, which should have boosted demand and, in turn, lifted gold prices. Gold prices have risen 10% so far this year. According to the World Gold Council, central banks in emerging markets bought 473 metric tons (521 tons) of gold a year on average between 2010 and 2021.

Persons: ebbs, Daria Efanova, ” John Reade, Jamie Dimon, ” Reade, “, Reade, ” Organizations: London CNN —, US Federal Reserve, Treasury, Sucden, World Gold Council, CNN, Interactive Investor Locations: United States, Russia, Ukraine, Israel, Gaza, China, South China, Taiwan, Russian

☆ Asia shares turn mixed, gold tops $2,100 an ounce
▼ + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was still up 0.4%, led by gains in South Korea and Australia. Trade figures for China are due later in the week with the recent trend being softening exports to the U.S. overshadowing gains in Asia. S&P 500 futures dipped 0.1%, after finishing at a 20-month high on Friday, while Nasdaq futures lost 0.2%. The dive in yields and the dollar has been a boon for non-yielding gold, which added 0.9% to $2,088 an ounce, after hitting a record of $2,111.39 an ounce . Oil prices have not been so fortunate, amid doubts OPEC+ will be able to maintain planned output cuts.

Persons: Goldman Sachs, Jerome Powell, Claudio Irigoyen, Joachim Nagel, Christine Lagarde, Brent, Wayne Cole, Sam Holmes Organizations: Nikkei, payrolls Shipping, Japan's Nikkei, FTSE, Nasdaq, Federal Reserve, Bank of Japan's, European Central Bank, ECB, Sea, Thomson Locations: Red Sea, SYDNEY, U.S, Israel, Red, Asia, Pacific, Japan, South Korea, Australia, China, Canada

[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, while Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area. Such worries flared after Hamas’ Oct. 7 attack into southern Israel but subsided in recent weeks. Quincy Krosby, chief global strategist at LPL Financial, said a widening conflict could push some investors to take profits on the recent rally in stocks. Signs of an intensifying Middle East conflict could also boost oil prices, which have slumped in recent weeks.

Persons: Brendan McDermid, Yemen's, Quincy Krosby, ”, “, Phil Orlando, Federated Hermes, Santa Claus, Orlando, I'm, Krystal Hu, Ira Iosebashvili, Chizu Organizations: New York Stock Exchange, REUTERS, Hamas, Pentagon, Reuters, LPL, U.S ., Federated, West Texas, Thomson Locations: New York City, U.S, American, Israel, United States, Iraq, Iran, Santa

☆ Here’s why some bond traders care so much about the US government’s budget deficit nowadays
▼ + stars: | 2023-12-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

And as the mountain of debt keeps piling up, and the government’s budget deficit remains massive, some bond traders are now joining politicians in decrying the government’s ever-growing financial obligation. Those bond traders are seemingly up in arms over the government’s gaping budget deficit — something that occurs when the government’s spending outstrips revenues — which currently stands at roughly $67 billion so far for the current fiscal year. For the full 2023 budget year, the Congressional Budget Office estimated that the deficit stood at a staggering $1.5 trillion. How do we manage the budget deficit? Our interest rate team is looking at the 10-year (US Treasury) yield to be closer to 4% than 5% next year.

Persons: ”, Jerome Powell, Bell, Joe Quinlan, It’s, it’s, what’s, You’d, Powell, ” Powell, they’re Organizations: CNN Business, Bell, DC CNN, Treasury Department, Congressional, Office, Federal, Merrill, Bank of America Private Bank, Treasury, Spelman College, US Labor Department, Institute for Supply Management, US Commerce Department, University of Michigan Locations: Washington, Atlanta

☆ Asia shares start Dec on cautious note, oil nurses losses
▼ + stars: | 2023-12-01 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.5% after a surge of 7.3% last month, the most since January. The Federal Reserve's preferred gauge of inflation - the personal consumption expenditures (PCE) price index - stood unchanged for October, while consumer spending also pulled back. Fed funds futures imply rate cuts of 115 basis points. The yield on 10-year Treasury notes slipped 3 basis points in Asia to 4.3264%, on top of a plunge of 52.2 basis points for the month. Two-year Treasury yields fell 4 basis points to 4.674%.

Persons: Tyrone Siu, sharemarkets, HSI, Rodrigo Catril, Jerome Powell's Q, Waller, Robert Carnell, Christopher Waller, Treasuries, Stella Qiu, Jamie Freed Organizations: REUTERS, Tyrone, Rights, Japan's Nikkei, National Australia Bank . Regional, Federal, Traders, ING, Fed, South Korean, Philippine, Brent, West Texas, Thomson Locations: Exchange, Hong Kong, China, Europe, U.S, Asia, Pacific, Japan, South

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