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☆ Stocks like Meta are ‘best positioned’ for a market correction
▼ + stars: | 2023-08-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"In addition to gaining lending market share, management [is] laser focused on boosting credit card offerings, turning around the wealth management business and growing investment banking revenues," he said. "We think Meta is best positioned vs peers to capitalize on new spend in the industry given ramping Reels and Messaging monetization, easy comps, and increasing Advantage+ adoption," he said. Blackrock "Best positioned for rebalancings. ... We think Meta is best positioned vs peers to capitalize on new spend in the industry given ramping Reels and Messaging monetization, easy comps, and increasing Advantage+ adoption." We view TJX as a market share gainer that is well positioned to benefit from trade-down and reiterate our Buy rating.

Persons: Ebrahim Poonawala, Wells, Poonawala, BofA, Lorraine Hutchinson, TJ Maxx, Hutchinson, TJX, Justin Post, BLK Organizations: Bank of America, CNBC, Meta, TJX Companies, Investor, Facebook Locations: Bank, Blackrock, Wells Fargo, Basel

☆ A 40% rout in Apple bonds is signaling trouble for bank balance sheets with big debt holdings, markets guru Larry McDonald says
▼ + stars: | 2023-08-24 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

A 40% plunge in Apple's bonds highlights the risks facing banks' debt portfolios, according to Larry McDonald. The markets guru highlighted risks tied to mortgage-backed securities, which are on track for a third annual decline. McDonald seemed to suggest that if the bonds of top-rated companies such as Apple could take such a knock from rising interest rates, declines in the broader debt market could be sizable. MBS securities are closely related to mortgage rates. The US average 30-year mortgage rate surged to a 23-year high of almost 7.5% this month, indicating the scale of price displacement in the mortgage debt market.

Persons: Larry McDonald, Bonds, McDonald Organizations: Service, Fed, Silicon Valley, Apple, MBS, BlackRock's, Atlanta Locations: Wall, Silicon

REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsAug 24 (Reuters) - Blackstone's (BX.N) newly established China unit has received regulatory approval to raise funds that will be invested overseas, joining other global asset managers in seeking to tap Chinese investor demand for foreign assets. Blackstone registered a fund management unit with the Asset Management Association of China under the qualified domestic limited partnership (QDLP) programme, a notice from the regulator showed. The unit, which was established in March, has seven full time employees, including five fund professionals, the notice said. The quota-based QDLP programme, first launched in 2012, allows foreign and domestic fund managers to raise money from Chinese high-net worth individuals and institutions which is then fed into offshore funds. The QDLP programme is generally more popular when the yuan is weaker.

Persons: Blackstone, Roxanne Liu, Selena Li, Edwina Gibbs Organizations: Blackstone Group, REUTERS, Asset Management Association of China, U.S, KKR KKR.N, BlackRock BLK.N, Investment, Thornburg Investment Management, Thomson Locations: New York City, U.S, China, Hong Kong, Shanghai

☆ BlackRock keeps pumping the brakes on a new fund amid state-level ESG criticism
▼ + stars: | 2023-08-24 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

Last fall, BlackRock filed to launch an ESG municipal bond exchange-traded fund. It is in essence an ESG version of its major $32 billion municipal bond fund. The delay for the world's largest ETF provider has puzzled some in the industry. This year Goldman Sachs launched its first municipal bond ETF, which takes into account social and environmental factors. BlackRock's ESG municipal bond ETF has another wrinkle.

Persons: Larry Fink, Wesley Gray, Matthew Tuttle, they've, Goldman Sachs, Fink, Salim Ramji, Tony Kelly Organizations: BlackRock, Securities and Exchange Commission, SEC, HIP Muni Bond ETF, Alpha, Republican, Tuttle Capital Management, Goldman, HIP Investor, HIP Locations: York, Arizona , Texas, South Carolina, BlackRock, Connecticut

☆ Bounce in European property stocks: false start or turning point?
▼ + stars: | 2023-08-24 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

MILAN, Aug 24 (Reuters) - It's hard to be bullish about real estate in an environment of sharply higher interest rates. Two years of steep falls have made European property a short-seller favourite as sector valuations and investor positioning plunged to levels last seen during the 2008 global financial crisis. A gauge of European real estate shares (.SX86P) has halved in value to about $131 billion since 2021, but the mood shifted in July as earnings expectations improved. "Things aren't great for real estate companies and that's why they are trading at a huge discount. Meanwhile, BlackRock's iShares European Property ETF (IPRP.L) has seen a 10% surge in inflows from late February, according to data on its website.

Persons: Gerry Fowler, Zsolt Kohalmi, BlackRock's, Natixis, Banks, Charles de Boissezon, Kohalmi, UBS's Fowler, Danilo Masoni, Sinead Cruise, Elaine Hardcastle Organizations: MILAN, European Equity, UBS, European Central Bank, Pictet, Advisors, P Global Market Intelligence, Property, Bank of, Societe Generale, Equity, Thomson Locations: Europe, London, U.S

B REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsCompanies BlackRock Inc FollowAug 23 (Reuters) - Top asset manager BlackRock on Wednesday reported a further decline in its support for shareholder resolutions on environmental and social themes, citing corporate progress on the areas and poor crafting of the measures by filers. In an annual stewardship report being released with the end of the 12-month corporate annual meeting cycle on June 30, New York-based BlackRock said it supported 7% of 399 shareholder proposals on environmental and social issues. In the newest report BlackRock said many of the measures called for changes that would not be helpful to companies in its funds. Data has previously shown investor support slipping for many resolutions, and as companies strike compromises with activists. BlackRock has been under fire from conservative U.S. politicians who say it has over-emphasized sustainability issues, citing past proxy votes.

Persons: Shannon Stapleton, BlackRock, Ross Kerber, Isla Binie, Simon Jessop, Sonali Paul Organizations: REUTERS, BlackRock, filers, Thomson Locations: BlackRock, New York, U.S, Boston, London

☆ 44-year-old quit his $2.3 million job without a backup—here's why he's never been happier
▼ + stars: | 2023-08-23 | by ( Joanne Lipman | ) www.cnbc.com time to read: +3 min

The Power of Reinvention in Life and Work," about how to navigate change and find meaning in the way we live and work. It was a scary few years that followed, but he's never been happier, despite earning much less. He credits his successful career change to two things: setting the groundwork before quitting and being vulnerable enough to seek guidance. He didn't know it at the time, but this groundwork would later be essential to building a happy life after BlackRock. Hy's life coach gave him the tools to navigate his emotions and helped him explore questions like, "Why am I so obsessed with work?"

Persons: Hy, he's, Jeff Bezos Organizations: Yale, BlackRock Locations: New York, California

☆ Wall Street is declaring victory too early — the US is still headed for a recession
▼ + stars: | 2023-08-22 | by ( William Edwards | ) www.businessinsider.com time to read: +11 min

In theory, these higher interest rates push down demand and slow inflation by forcing companies to cut prices to attract stretched-thin customers. And Americans have been spending right through the higher interest rates: Personal consumption expenditures and retail sales numbers have continued to forge upward. But eventually, this attitude will wane as people realize that the higher rates aren't a flash in the pan. The Treasury yield curve measures the different interest rates that are paid out on various bonds issued by the US government. It's the same story every time, both Kantrowitz and Rosenberg say: Investors are bad at pricing in a recession before it unfolds.

Persons: Michael Kantrowitz, Piper Sandler, Milton Friedman, Bob Doll, Doll, David Rosenberg, Rosenberg, Tom Essaye, Essaye, Granger, Kantrowitz, Jerome Powell, William Edwards Organizations: Philadelphia Fed, Bank of America, JPMorgan, Consumer, Crossmark Global Investments, BlackRock, Silicon Valley Bank, Rosenberg Research, Fed, Auto, Wall, CPI, Institute for Supply Management's, Treasury, Royal Bank of Canada Locations: Silicon, YOLO

☆ Coinbase’s stablecoin bet pegs to wishful thinking
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The crypto exchange will take a minority stake in Circle Internet Financial, issuer of stablecoin USDC. Such tokens, designed to track the U.S. dollar, haven’t delivered on promises of transforming finance. Coinbase already earns interest from reserves backing USDC through a partnership with Circle, and doesn’t expect any new major financial benefit. Meanwhile, U.S. legislation to regulate the tokens is stalled, and PayPal’s (PYPL.O) stablecoin launch last month drew criticism from Representative Maxine Waters, among others. Coinbase, meanwhile, is cozying up to pillars of traditional finance like BlackRock (BLK.N).

Persons: haven’t, Coinbase, Maxine Waters, Brian Armstrong, Anita Ramaswamy, EY’s loveless, Jonathan Guilford, Sharon Lam Organizations: Reuters, U.S ., Wall Street Journal, BlackRock, Twitter, TPG, Thomson

Leading the round alongside BlackRock, the world's biggest asset manager, were Canada Pension Plan, Ontario Municipal Employees Retirement System and, as previously reported, pension investor Investment Management Corporation of Ontario. The fresh funds will help the firm expand its factory footprint, Hartman said. Separately, Northvolt has assembled its first energy storage system products in Poland and expects to start customer deliveries from later this year. "We have a business plan... we always want to make sure we have access to the markets," Hartman said. Reuters has previously reported, citing sources, that Northvolt was preparing for an initial public offering that could value the company at more than $20 billion.

Persons: Helena Soderpalm, IMCO, Northvolt, Alexander Hartman, Goldman Sachs, Baillie Gifford, Swedbank, Singapore's, Chow, Hartman, Supantha Mukherjee, Simon Jessop, Mark Potter Organizations: REUTERS, BlackRock, Reuters, Management Corporation of Ontario, Volkswagen, Chow Tai Fook Enterprises, BMW, Volvo, Thomson Locations: Vasteras, Sweden, BlackRock, Canada, STOCKHOLM, LONDON, Swedish, Europe, North America, Ontario, Hong Kong, Germany, United States, Scania, Poland, Stockholm, London

☆ Alleged Russian crime boss sanctioned by Ukraine owns a major stake in US biotech firm
▼ + stars: | 2023-08-21 | by ( Matt Egan | ) edition.cnn.com time to read: +13 min

Buried in corporate filings is another relationship that is central to Humacyte: Russian billionaire Gavril Yushvaev is the company’s second-largest individual shareholder. Humacyte: Russian billionaire has no ‘control’ over firmYushvaev has not been sanctioned by the US government. “There are patients walking today on their own limbs who would not be doing so without access to the HAV to repair their damaged arteries,” a Humacyte spokesperson said. ‘It shows poor judgment’Yushvaev was brought in as an accredited private investor by Credit Suisse’s capital markets advisory group, a Humacyte spokesperson told CNN. Dougan does not personally know Yushvaev, a Humacyte spokesperson told CNN.

Persons: — Weeks, Kathleen Sebelius, Gavril Yushvaev, Yushvaev –, ”, Yushvaev, ” Forbes, Dann, Charles Whitehead, That’s, Steven Tian, Putin, Vladimir Putin, Trump, Sebelius, Humacyte, Obama, ” Yushvaev, Yale’s Tian, Whitehead, “, ” It’s, Brady Dougan, Dougan, Laura Niklason, ’ Yushvaev, Jeff Sonnenfeld, Sonnenfeld, ” Humacyte, Lawrence Ward, Ward, Eleanor Bloxham, ” Bloxham, ’, Lyft, Mother Jones Organizations: New York CNN, Pentagon, Nasdaq, US Department of Defense, CNN, Securities and Exchange Commission, Ukraine, Pepsico, Cornell Law School, BlackRock, Vanguard, Yale School of Management’s, Institute, Treasury Department, Kremlin, Credit, Ayabudge, Credit Suisse, Humacyte, PTC, Yale, Yushvaev, SEC, “, Soviet, US Treasury, Dorsey, Whitney’s, Value Alliance, The Department of Defense, DOD, Cornell, Russia Locations: Ukraine, North Carolina, Humacyte, Russian, Russia, Crimea, Cypriot, Yale, Bloxham, Lyft

He called the U.S. central bank's misreading of the issue "a major failure" that can mar analysis of where the economy stands. Since 2016, policies from the vastly different Trump and Biden administrations have combined in a sort of accidental complementarity to keep both job and economic growth above the Fed's estimate of potential. Median Fed policymaker projections of potential U.S. economic growth have slid from a level around 2.5% a decade ago to 1.8% as of June 2023, when the last projections were issued. Under pressure from colleagues to raise interest rates as the economy accelerated, Greenspan resisted and accommodated the expansion instead of fighting it. But it could help economic growth continue even as prices cool, another prop for the "soft landing" the Fed hopes to engineer and possible evidence of rising potential.

Persons: John Williams, Joe Biden, Adam Posen, Donald Trump, Trump's, Biden, Dana Peterson, Peterson, Jerome Powell, Board's Peterson, Alan Greenspan's, Greenspan, Jackson, John Fernald, Huiyu Li, Michael Feroli, Antulio Bomfim, Powell, Howard Schneider, Paul Simao Organizations: Federal Reserve, New York Fed, San Francisco, Fed, Reuters, BlackRock, Bank of England, Peterson Institute for International Economics, Trump, Biden, Conference Board, Jackson, San Francisco Fed, JPMorgan, Trust Asset Management, Thomson Locations: U.S, Jackson Hole , Wyoming, Washington

☆ Bitcoin had a big drop late last week. Here's what sparked it, and why that volatility can persist
▼ + stars: | 2023-08-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin's back to its volatile ways after its big move down late last week — but not for the reason investors expected. Aside from the mismanaged crypto lenders (and FTX) that plagued the crypto market in 2022, the Federal Reserve's inflation-fighting rate hiking campaign played a big part in bitcoin's downward price pressure. "The volatility will have a persistence if we're going to stay here at an elevated real rate environment," he told CNBC. Even if the Fed doesn't raise interest rates anymore, the crypto space seems more focused now on real rates and keeping them elevated to fight inflation. Having institutions with an established long core holding would act as a stabilizing force for Bitcoin, Connors added.

Persons: it's, Mark Connors, 3iQ, We're, headwinds, Connors, It's, that've, Bitcoin, —, Jeff Cox Organizations: CNBC, SEC, Fidelity Locations: BlackRock

☆ Bitcoin drops to new two-month low as world markets sell off
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

A representation of cryptocurrency Bitcoin is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Aug 18 (Reuters) - Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range, as a wave of risk off sentiment grips world markets. It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since June 16 . It was lifted in June by BlackRock applying to launch a spot bitcoin exchange-traded fund (ETF) in the United States. Some investors interpreted that move as an indication that the U.S. Securities and Exchange Commission would approve spot bitcoin ETF applications from various asset managers, including Grayscale.

Persons: Dado Ruvic, bitcoin, FTX, Wall, Joseph Edwards, Bitcoin, Edwards, Elizabeth Howcroft, Dhara Organizations: REUTERS, Enigma Securities, BlackRock, U.S . Securities, Exchange, SEC, Thomson Locations: United States

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The simplest conclusion is the Fed will not be able to ease again in anything like the way many had assumed or still think. This will lift the 'term premium' embedded in long-term bond yields, which has been so subdued since Fed balance sheet expansion met the crash of 2008, even if the Fed is done tightening policy rates, he said. Fed policy is more neutral than restrictive "if you believe we've returned to a pre-2008 world", he said, and that limits the scope for rate cuts in future. Writing by Mike Dolan; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, handwringing, Anujeet, we've, Amanda Lynam, Mike Dolan, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Reserve, Treasury, U.S, AAA, Atlanta, Deutsche Bank, Vanguard, Federal Reserve, Brandywine Global, BlackRock, Reuters, Thomson Locations: New York City, U.S

☆ Bitcoin fell through a key level and is giving a bearish signal. Here’s what chart analysts say happens next
▼ + stars: | 2023-08-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin tumbled to finish the week after many weeks of stillness in the market, and chart analysts say it's possible this could be just the beginning. Bitcoin also broke its 200-day moving average of $27,300, which could signal an impending downtrend. A range emerges between $25,000 and $30,000 Bitcoin has been here before. The $25,000 level was a key resistance threshold from last summer through March of this year after bitcoin briefly touched $30,000 in its banking crisis-fueled rally. Fairlead Strategies' Katie Stockton puts the next downside target a little higher at $25,200, with a secondary target level of $20,600.

Persons: Bitcoin, Wolfe, Rob Ginsberg, bitcoin, Julius de Kempenaer, de Kempenaer, Ari Wald, Oppenheimer, Katie Stockton, Stockton Organizations: Elon, SpaceX, CNBC, BlackRock, BTC

☆ Top Republican China hawk says White House investment restrictions fall short
▼ + stars: | 2023-08-18 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON — A leading House Republican voice on the national security threat posed by China said the White House's plan to restrict outbound investment in the Chinese military and defense companies falls short of addressing the real problem. The Wisconsin Republican is the chairman of the House Select Committee on the Chinese Communist Party and a leading voice in the House on the risks of U.S. investment in China. The House CCP Committee has flagged around 50 firms, including machinery, aircraft and technology firms and created a de facto blacklist. Yellen has already signaled that she intends to keep any investment restrictions "narrowly targeted" to protect U.S. national security, and insists they are not intended to weaken China's economy. "Even though these policies may have economic impacts, they are driven by straightforward national security considerations," she said in an April speech.

Persons: Mike Gallagher, WASHINGTON —, Joe Biden's, Gallagher, Janet Yellen, Yellen Organizations: U.S, Capitol, Republican, Treasury Department, Wisconsin Republican, Chinese Communist Party, CCP, The, House CCP, BlackRock, CNBC, White House Locations: China, United States, Wisconsin, Mexico, Canada, BlackRock

☆ Wharton professor Jeremy Siegel says the US won't spiral into a new bout of inflation even as economy stays hot
▼ + stars: | 2023-08-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The US won't see a resurgence in inflation, according to Jeremy Siegel. That was a reflection of poor productivity in the economy, Siegel said – a trend that has since turned around:"It was the worst productivity performance in over 70 years. This year we are hiring at less than half the pace and we have two to three times the level of GDP growth. That's why we can have this tremendous GDP growth and still have the disinflationary trend." And inflation won't reaccelerate as improving productivity justifies higher wages and drives more economic output, Siegel explained.

Persons: Jeremy Siegel, Wharton, Siegel, Jay Powell, Stocks Organizations: CNBC, Service, Atlanta Fed Locations: Wall, Silicon, BlackRock

☆ Bitcoin plunges more than 10% after Elon Musk's SpaceX reportedly sold the cryptocurrency
▼ + stars: | 2023-08-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Bitcoin plunged about 10% after it was revealed that SpaceX sold the cryptocurrency. The Wall Street Journal reported that SpaceX wrote down the value of bitcoin it owns by $373 million. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Fundstrat's Tom Lee has argued that a potential bitcoin ETF approval could send the cryptocurrency to new highs above the $100,000 level. But the SEC has yet to show any indication that an approval is imminent, and more recently has delayed action on several bitcoin ETF applications.

Persons: Bitcoin, Elon, Tesla, bitcoin, Fundstrat's Tom Lee Organizations: SpaceX, Street Journal, Service, Street, bitcoin, Treasury, Reserve, BlackRock, SEC Locations: Wall, Silicon

☆ Premarket stocks: How China's economic turmoil could hurt your portfolio
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.

Persons: Joe Biden, BlackRock, ”, Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, “, Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn

☆ Bitcoin is headed to $180,000 if regulators approve the first spot ETF in the US, Fundstrat's Tom Lee says
▼ + stars: | 2023-08-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Fundstrat's Tom Lee said the approval of a new spot bitcoin ETF could send the token soaring in 2024. The strategist still sees upside even if a spot bitcoin ETF doesn't get approved by regulators. In an interview with CNBC Wednesday, the strategist broke down why a six-figure jump above the previous record high of $69,000 remains in the cards. "If the spot bitcoin gets approved, I think the demand will be greater than the daily supply for bitcoin," Lee said. The Jacobi Bitcoin ETF went live Tuesday in Europe under the ticker BCOIN, but regulators in the US have yet to approve applications for similar funds from asset managers including BlackRock and Fidelity.

Persons: Fundstrat's Tom Lee, Tom Lee, Lee, Satoshi Nakamoto, Crypto, there's Organizations: CNBC, doesn't, Service, CNBC Wednesday, BlackRock, Fidelity Locations: Wall, Silicon, Europe

☆ Asset manager Valkyrie files for Ethereum-focused ETF with US SEC
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsAug 16 (Reuters) - Asset manager Valkyrie has filed for an Ethereum Strategy exchange-traded fund (ETF) that will invest in ether futures and other collateral assets, paperwork filed with the U.S. Securities and Exchange Commission showed on Wednesday. The greenlighting of the ETF by the SEC was seen as a watershed moment for cryptocurrencies at the time. The regulator, however, has rejected dozens of applications for spot bitcoin ETFs, citing inadequate level of trading surveillance that could leave the underlying spot market subject to fraud and manipulation. Reporting by Manya Saini in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Valkyrie, Manya Saini, Anil D'Silva Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Exchange, BlackRock, SEC, Thomson Locations: Washington ,, Bengaluru

☆ A former BlackRock stock chief shares 5 stocks and one area of the bond market he likes right now as growing recessionary pressures threaten to spoil the S&P 500's rally
▼ + stars: | 2023-08-16 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Bob Doll thinks a mild recession will hit the US economy sometime in the near-to-mid future. Outside of the stock market, Doll also thinks bonds are relatively attractive compared to last year. Within the bond market, he likes Treasurys most, with 10-year yields offering more than a 4% coupon. A 1.5% 10-year Treasury is a bad deal, and of course bonds have sold off hard," he said. Treasury bonds can be bought via a brokerage or through TreasuryDirect.

Persons: Bob Doll, Bob Doll isn't, Doll, Phillips, refiners Organizations: Conference, BlackRock, Valero, Aaa, Treasury Locations: HMOs, TreasuryDirect

HONG KONG, Aug 15 (Reuters Breakingviews) - Hong Kong has lost some permanent appeal. The introduction of two sets of approvals was mandated three decades ago when foreign investors wanted additional protections to invest in the first wave of Chinese firms listing in Hong Kong. China's domestic securities laws have since developed and global investors can now directly buy shares onshore through various channels. That could lead to more onshore shares being issued relative to offshore shares, further diluting minority owners in Hong Kong. In 2020, Hong Kong shareholders vetoed the Bank of Zhengzhou's proposal to avoid such an outcome.

Persons: Hong Kong, HKEX, Una Galani, Thomas Shum Organizations: Reuters, Hong Kong Exchanges, HK, China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, Corporate Governance Association, China Life Insurance, Wall, Hong, Bank of, Companies, Global, Hang Seng China Enterprise Index, Graphics Global, Thomson Locations: HONG KONG, Hong Kong, China, Shanghai, Shenzhen, Hong

☆ The labor market will set inflation on a 'rollercoaster' that will weigh on stocks and the economy, BlackRock says
▼ + stars: | 2023-08-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The labor market is about to put inflation on a "rollercoaster," according to BlackRock strategists. "We believe this structural labor shock is poised to take over as the driver of inflation as the pandemic-driven spending mismatch unwinds." That raises the risk of a super-rare "full-employment recession," strategists said, a situation where economic activity winds down despite the labor market remaining strong. "We believe this structural labor shock is poised to take over as the driver of inflation as the pandemic-driven spending mismatch unwinds," BlackRock strategists said in a note on Monday. "We see inflation on a rollercoaster as the labor shock takes over from the spending mismatch.

Persons: That's Organizations: BlackRock, stoke, Service Locations: Wall, Silicon, BlackRock

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