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The war in the Middle East could lead to higher inflation for longer as it puts upward pressure on oil prices, according to Strategas' Jason Trennert. On Saturday, militant group Hamas attacked Israel, leading to the deadliest offensive attack Israel has experienced in 50 years . Oil prices spiked following the attack, with Brent crude futures rising nearly 4% to $87.94 a barrel. "There is likely to be natural tendency to buy Treasurys and the U.S. dollar, but wars are generally inflationary." Rising oil prices could put even more pressure on inflation.
Persons: Strategas, Jason Trennert, Israel, , Trennert, Hess, Northrop Grumman, — CNBC's Michael Bloom Organizations: Brent, . West Texas, U.S ., Federal Reserve, Energy, Halliburton, CF Industries, L3Harris Technologies, General Dynamics Locations: Israel
Former U.S. President Jimmy Carter reacts as his wife Rosalynn Carter (not pictured) speaks during a reception to celebrate their 75th wedding anniversary in Plains, Georgia, U.S. July 10, 2021. John Bazemore/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Sept 30 (Reuters) - Americans celebrated the 99th birthday of former President Jimmy Carter this weekend, with the White House putting up a wooden cake display on its north lawn and the Carter library in Georgia hosting a party for the public. Carter, a Democrat who served as U.S. president from January 1977 to January 1981, is in hospice care after deciding in February to decline additional medical intervention. In Atlanta, the Jimmy Carter Presidential Library & Museum hosted a celebration that it said would feature cake, games, trivia and a food truck. He and his wife, Rosalynn Carter, who has dementia, took an outing a week ago to attend the annual peanut festival in their hometown of Plains, Georgia.
Persons: Jimmy Carter, Rosalynn Carter, John Bazemore, Carter, Carter's, Jason, Jeff Mason, Leslie Adler Organizations: U.S, Rights, White, Jimmy Carter Presidential Library & Museum, New York Times, Thomson Locations: Plains , Georgia, U.S, Georgia, Atlanta, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIn some ways the Fed is fighting the federal government to get inflation down, says Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight and impact on the economy, recession forecast, and more.
Persons: Jason Trennert Jason Trennert Organizations: Strategas Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople are misplaying the AI revolution, says Carlyle's Jason ThomasJason Thomas, Carlyle Group head of global research, joins 'Squawk on the Street' to discuss Thomas' broad outlook for rates, why the economy could see higher rates for longer, and whether investors should reduce their exposure to equities.
Persons: Carlyle's Jason Thomas Jason Thomas, Carlyle, Thomas Organizations: Carlyle Group
Like many financial institutions in the current high interest rate environment, Northern Trust is confronting growing financing costs as tries to hold onto deposits. Northern Trust shares sank to $69.81, down more than 9%, to their lowest level since mid-July after Tyler's comments. A Northern Trust spokesperson did not immediately respond to a Reuters request for further comment. Asset and wealth managers, including Northern Trust and peer State Street Corp (STT.N), are seeing a decline in NII as customers move deposits to higher yielding alternatives. In July, Northern Trust reported that its deposits fell by 10% to $91.9 billion in the second quarter, although Tyler said on Tuesday deposits have generally stabilized.
Persons: Jason Tyler, That's, it's, Tyler, Tyler's, Chibuike Oguh, Michelle Price, Mark Potter Organizations: Northern Trust Corp, Barclays, Northern Trust, State Street Corp, Trust, Thomson Locations: New York
That drop was off the back of lower core goods inflation, Capital Economics analyst Jason Tuvey said, while services inflation - which central bank board members have described as "sticky" - remained above 5% year over year. Annual core inflation in the second half of the month was "good news," said central bank board member Jonathan Heath on social media network X. Headline inflation edged downward to 4.64% in the month, in line with market expectations and its lowest since March 2021. That was driven by softer core price pressures, Capital's Tuvey said, but with inflation in the services sector still proving stubborn, the central bank is still unlikely to kick off an interest-rate easing cycle soon. The closely watched core price index rose 0.27% during the month (MXCPIX=ECI).
Persons: Jose Luis Gonzalez, Jason Tuvey, Jonathan Heath, Capital's Tuvey, Andres Abadia, Natalia Siniawski, Kylie Madry, Frances Kerry, Aurora Ellis Organizations: REUTERS, Capital, Reuters, of, Macroeconomics, America, Thomson Locations: Ciudad Juarez, Mexico, of Mexico
HARTFORD, Conn. (AP) — A police officer was killed and another was seriously injured Wednesday night when their cruiser was struck by a car speeding through a red light while fleeing a traffic stop in Connecticut's capital city, authorities said. Another car that had fled a traffic stop by other officers smashed into the passenger's side of the cruiser just west of downtown Hartford. The driver of the car, Richard Barrington, 18, of Hartford, was treated at a hospital, discharged and arrested, police said. While officers approached the car, Barrington sped away, drove through one red light and went through another red light before crashing into Garten and Kearney's cruiser, he said. The other officers did not chase after Barrington when he fled the traffic stop, the police chief said.
Persons: Robert “ Bobby ” Garten, Brian Kearney, , Luke Bronin, “ Bobby, Jason Thody, Garten, Kearney, Richard Barrington, Barrington, Sharmese Walcott, Hannah Dean, Dean, Thody, Ned Lamont, , they’ll, ” Thody, “ Really Organizations: , Hartford, ” Police, Hartford State's, Farmington . Gov, Hartford Whalers NHL, Goats Locations: HARTFORD, Conn, Hartford, Garten, Farmington ., U.S, Connecticut, Wethersfield
Analysts at an Asian brokerage and investment group have picked four semiconductor stocks to play the "booming demand" for high-performance chips. "This old semiconductor migration locomotive still has steam in it yet, even amid the current industry downcycle, thanks to booming demand for high-performance chips," CLST analysts Jason Tsang and Cathy Hsu said in a research note dated Aug. 23. Semiconductors are used in products like tablets and smartphones, and the Covid-19 pandemic led to high demand for such goods, resulting in a shortage of some types of chips. Analysts expect it to take market share from fellow chip manufacturer KLA. "In addition to expanding shipment volumes, demand improvement, content growth, and value add should together drive a boom in the semiconductor equipment market," the analysts wrote.
Persons: Jason Tsang, Cathy Hsu, Hynix, — CNBC's Michael Bloom, Arjun Kharpal Organizations: Semiconductors, Samsung, Samsung Electronics, Nvidia, CLST, AMD, SK Hynix Locations: Taiwan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy is one area investors can look to find some real value, says Strategas' Jason TrennertJason Trennert, Strategas chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, rising Treasury yields, the Fed's rate hike campaign, and more.
Persons: Strategas, Jason Trennert Jason Trennert Organizations: Email Energy
Why Maui’s rebuilding effort will be so expensive
  + stars: | 2023-08-18 | by ( Chris Isidore | ) edition.cnn.com   time to read: +4 min
All told, doing business in Hawaii is about 30% more expensive than the cost of doing business in the rest of the United States, according to Moody Analytics. “Based on similar historical events, this is likely conservative, as building delays and supply and demand cause additional pressures on reconstruction costs,” said Verisk. Construction permitting generally takes longer in Hawaii than most mainland locations, said Jessica Leorna, CEO of the state’s Building Industry Association. That’s especially true for construction workers, who were in short supply even before the fires, according to the state’s Building Industry Association. And workers from elsewhere in the state or the Southeast could drive home on weekends,” he said.
Persons: , Beau Nobmann, Jae C, ” Jason Thies, Nobmann, Jessica Leorna, Jones, it’s, Adam Kamins, there’s, Ian, “ That’s Organizations: New, New York CNN, Moody Analytics, HPM, Homes, Industry Association, Labor, Labor Department, state’s, Moody’s Analytics, Moody’s Locations: New York, Maui, United States, Hawaii, Lahaina , Hawaii, Canada, Asia, West Coast, California, Washington, Hawaii’s, Florida
Four stock-picking portfolio managers left Balyasny in early August. The $20 billion fund is trailing its peers in performance this year. Multi-strategy hedge fund Balyasny Asset Management saw a handful of departures in its stock-picking business earlier this month, according to people familiar with the matter. Four portfolio managers exited the $20 billion fund in early August, the people said, including Neville Irani, Colin Kronewitter, Ben Shapiro, and Jason Temerowski. Balyasny trails its peers in performance this year, returning 1.3% through July.
Persons: Neville Irani, Colin Kronewitter, Ben Shapiro, Jason Temerowski Organizations: Management Locations: Balyasny
Reviving the Redwoods
  + stars: | 2023-08-15 | by ( Jim Robbins | Ian C. Bates | ) www.nytimes.com   time to read: +1 min
The redwoods in this area are much larger in diameter and far more robust, the understory greener and more diverse. “In the untreated forest, trees are not vigorous and are susceptible to stressors — fire, wind and bugs,” said Jason Teraoka, the forester. “But here with more diameter growth and crown growth, it’s a much more vigorous forest and less susceptible to disturbance.”The thinned forest is part of a project called Redwoods Rising, which is aimed at creating old growth redwood forests for the future. Carried out by Redwood National and State Parks and Save the Redwoods League, a nonprofit, crews are using chain saws and logging equipment and planning prescribed fires, to mimic the traits of a young healthy redwood forest and undo the damage from decades of unbridled logging and indiscriminate reseeding. Treated forest stands, or communities of similar trees like this, researchers believe, will grow into the classic cathedral-like groves of redwoods over the next few centuries.
Persons: , Jason Teraoka Organizations: National Park Service, Redwood National, State Parks, Redwoods League Locations: redwoods
The logo of Mexico's Central Bank (Banco de Mexico) is seen at its building in downtown Mexico City, Mexico February 28, 2019. The unanimous decision by the central bank's five-member board is the third consecutive rate hold since Banxico, as the Bank of Mexico is known, halted a two-year hiking cycle in May amid easing inflation. Rate cuts in Mexico are unlikely until late 2023, analysts say, even as central banks begin easing their monetary policy. Annual inflation in Mexico slowed for the sixth consecutive month in July, official data showed on Wednesday, landing at 4.79%, but still above the central bank's target. In recent weeks, central banks in Brazil, Chile, Costa Rica, and Uruguay have cut their interest rates after aggressive monetary tightening cycles.
Persons: Daniel Becerril, Banxico, Jason Tuvey, Brendan O'Boyle, Sarah Morland, Anthony Esposito, Richard Chang Organizations: Mexico's Central Bank, Banco, REUTERS, Bank of, Capital Economics, Thomson Locations: Banco de Mexico, Mexico City, Mexico, MEXICO, Bank of Mexico, Latin America, Brazil, Chile, Costa Rica, Uruguay
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEquity markets are overbought because of valuations, says Strategas' Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk on the Street' to discuss why Trennert believes the market is overbought, how the CEO would advise clients at this juncture, and more.
Persons: Strategas, Jason Trennert Jason Trennert, Trennert Organizations: Equity, Strategas Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVery little recession is actually priced into the market today, says Strategas’ Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the Fed's inflation fight, the impact of worker strikes on the Fed's decision, latest market trends, and more.
Persons: Strategas, Jason Trennert Jason Trennert Organizations: Strategas Research
The South African Reserve Bank's (SARB) monetary policy committee (MPC) kept rates at 8.25% as inflation forecasts came in lower than previous ones and economic conditions improved. Kganyago said future rate decisions would continue to depend on economic data and risks to the inflation outlook. The bank expects inflation to fall back to the midpoint of the target range sustainably only by the third quarter of 2025. Jason Tuvey, deputy chief emerging markets economist at Capital Economics, said in a note that rate cuts were likely to materialise only early next year. "The split vote suggests that inflation concerns continue to linger and it is likely to take some time before a majority on the MPC are in favour of rate cuts," Tuvey said.
Persons: Lesetja Kganyago, Kganyago, Jason Tuvey, Tuvey, Kuben Naidoo, Nellie Peyton, Tannur Anders, Kopano, Anait Miridzhanian, Promit Mukherjee, Rachel Savage, Alexander Winning, Olivia Kumwenda, Frances Kerry Organizations: South, Reuters Graphics Reuters, Capital Economics, MPC, Thomson Locations: PRETORIA
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe fundamental case for being bearish on the economy is troublesome, says Jason TrennertJason Trennert, Strategas Research chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, and more.
Persons: Jason Trennert Jason Trennert Organizations: Strategas
Nigeria today faces record debt, unemployment is worryingly high, and power shortages have contributed to years of anaemic growth. "The path to political power in Nigeria, over time, has always been through these vested interests," said Bismarck Rewane, CEO at Financial Derivatives Company in Lagos. ENTRENCHED NETWORKSTinubu's ambitions to build a $1 trillion economy in eight years could come unstuck in part due to chronic power shortages. Getting the lights on would be a major win, but to do so some say Tinubu must remove grid subsidies and cut red tape. Tinubu suspended the head of the financial and economic crimes agency, but has yet to outline an anti-graft plan.
Persons: Bola Tinubu, Jason Tuvey, Bismarck Rewane, Tinubu, Tunau Taiwo, Nnamdi Obasi, Prince Ojeabulu, Muhammadu Buhari, jihadists, beholden, Joe Bavier, Conor Humphries Organizations: New, Capital Economics, Financial Derivatives Company, International, Rensource Energy, Nigeria Delta, Observers, Thomson Locations: Nigeria, LAGOS, New Nigerian, Lagos
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're 'a long way away' from the Fed's target of 2% inflation, says Strategas' Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the Fed's rate hike campaign, why a pause doesn't mean a finish in tightening, and more.
Persons: Strategas, Jason Trennert Jason Trennert Organizations: Strategas Research
MEXICO CITY, June 8 (Reuters) - Mexico's annual inflation rate slowed in May for a fourth consecutive month to 5.84%, data from statistics agency INEGI showed on Thursday, beating forecasts and continuing a downward trend spurred by a long cycle of rate hikes. Headline inflation came in below a forecast of 5.90% and is now at its lowest since August 2021. Jason Tuvey, Deputy Chief Emerging Markets Economist at Capital Economics said that inflation forecasts remained overly optimistic. Banxico does not expect inflation to reach its target rate of 3%, plus or minus a percentage point, until late 2024. Annual core inflation, considered a better gauge of price trends, was 7.39%, as forecast.
Persons: Jason Tuvey, Isabel Woodford, Jason Neely, Christina Fincher Organizations: MEXICO CITY, Capital Economics, Thomson Locations: MEXICO, Mexican
The couple behind Crumbs Bake Shop said they don't regret selling it even though it eventually failed. The couple bought the Crumbs brand back again seven years after it went bankrupt. Gus Lubin / Business Insider"We watched from the sidelines as the business suffered," Jason told Insider. After Crumb's collapse, Jason started a real estate brokerage that he operated for three years. Jason said he enjoyed his WeWork stint, but their cupcake business was always at the back of the couple's minds.
Persons: , Jason, Mia Bauer, Gus Lubin, Mia, WeWork Organizations: Service, New, Girls Scouts, Fischer Enterprises Locations: New York, WeWork
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is not done by a long shot, says Strategas’ Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market outlook, recession fears, the Fed rate hike campaign, and more.
Watch CNBC's full interview with Strategas' Jason Trennert
  + stars: | 2023-05-30 | 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 EmailWatch CNBC's full interview with Strategas' Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market outlook, recession fears, the Fed rate hike campaign, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrategas' Jason Trennert says he's cautious on economy and marketsJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, whether the U.S. is headed for a recession, and more.
These states might be the next to legalize weed
  + stars: | 2023-05-07 | by ( Stefan Sykes | ) www.cnbc.com   time to read: +7 min
The state became the 22nd to legalize recreational marijuana and follows Missouri and Maryland, which did so earlier this year. Some states are even moving ahead with proposals or ballot measures to legalize weed, putting them within arms' reach of having recreational markets. These are the states that have a chance to legalize adult-use marijuana in the coming years. OhioOhio may vote on whether to legalize recreational marijuana in November. Haren said the proposal also plans to build upon Ohio's medical marijuana program and issue additional adult use licenses to new companies.
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