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There's a lot to like right now in the fixed income market, according to BlackRock's Rick Rieder. He finds European credit, both investment grade and BB-rated high yield, attractive in part because of the strong U.S. dollar. They have also added high quality CLOs and high-quality European securitized assets. "We're getting more yield than BB high yield. We're getting almost as much yield as full high yield — and our volatility is 60% of that market, just because we diversified," Rieder said.
Persons: BlackRock's Rick Rieder, Rieder, Bond, Fed Governor Waller, I've, He'd, Morningstar, We've, we're, BINC, We're, they'll Organizations: CNBC, SEC, Federal Reserve, Fed, AAA, BlackRock AAA, BlackRock AAA CLO, U.S, CLOs, MBS Locations: BlackRock, CLOs, European
ET, the 10-year Treasury yield was up by over two basis points to 4.4374%. The 2-year Treasury yield was last at 4.8626% after rising by nearly three basis points. U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve speakers about the outlook for inflation and interest rates. A series of Fed officials on Tuesday urged patience when it comes to rate cuts as inflation remains above the Fed's 2% target. On Wednesday, further Fed officials are set to give remarks and minutes from the central bank's latest meeting are due to be released.
Persons: Christopher Waller, Susan Collins, Raphael Bostic Organizations: U.S, Treasury, Federal Reserve, Boston Fed, Atlanta Fed
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street reaches new highsThe S&P 500 and the Nasdaq Composite rose to fresh record highs as investors await earnings from AI chipmaker Nvidia after the close on Wednesday. Nvidia's shares rose 0.6% with option traders pricing in swings of as much as 9% up or down in reaction to its earnings. Rate cuts several months awayFederal Reserve Governor Christopher Waller said he does not think further rate increases are necessary, but he will need convincing before backing any rate cuts. [PRO] When Nvidia risesCNBC's Ganesh Rao takes a look at six artificial intelligence-related stocks that have historically reacted positively to Nvidia's quarterly earnings.
Persons: Christopher Waller, Waller, Biden, Jennifer Granholm, Walt Disney, Bob Iger, Ganesh Rao Organizations: New York Stock Exchange, CNBC, Nasdaq, Nvidia, Dow Jones, Federal, Gasoline, East, Pixar, Studios, Disney, Walt Disney Animation, CSI, Nikkei, Reserve Bank of New Locations: New York City, Israel, Asia, Hong Kong, Reserve Bank of New Zealand, United States, Japan
Fed officials aren’t easing Wall Street’s nerves
  + stars: | 2024-05-22 | by ( Bryan Mena | ) edition.cnn.com   time to read: +4 min
Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again. But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. “I think we’re set up for stickier inflation.”Some Fed officials say another rate hike isn’t likelyFed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.
Persons: they’re, Dow, Christopher Waller, ” Waller, Goldman Sachs, David Solomon, “ I’m, , , Philip Jefferson, Mary Daly, Axios, Jerome Powell, Klaas Knot, Loretta Mester, Chris Larkin Organizations: Washington CNN, Federal Reserve, CNBC, , Peterson Institute for International Economics, Boston College, Mortgage, Association, ” San Francisco Fed, European Central Bank Governing, Cleveland Fed, Bloomberg, Locations: ” San
"I think the message that's coming through is that they have no idea what's going on," Howard said on CNBC's "Squawk Box Europe" on Wednesday. Fed Governor Christopher Waller on Tuesday said that he needed to see further data evidence that inflation was softening before supporting rate cuts. Waller's comments were echoed by other Fed officials on Tuesday, including Boston Fed President Susan Collins. 'A credibility problem'But Fed officials have not come out with a clear message about their expectations or to address why inflation remains elevated, GAM's Howard said. "And now [policymakers] think inflation is coming down but its not coming down fast enough," he said.
Persons: Valerie Plesch, Julian Howard, Howard, Christopher Waller, Waller's, Susan Collins, GAM's Howard, They've Organizations: Eccles Federal, Bloomberg, Getty, Federal, GAM, Fed, Peterson Institute for International Economics, Boston Fed, Atlanta Federal Reserve Locations: Washington , DC, U.S, Washington
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rate cuts several months awayFederal Reserve Governor Christopher Waller said he does not think further rate increases are necessary, but he will need convincing before backing any rate cuts. Singapore Airlines: one dead, 30 injuredOne person died and 30 people were injured aboard a Singapore Airlines flight that was hit by severe turbulence and forced to land in Thailand. Singapore Airlines Flight 321 encountered "sudden, severe turbulence" about 10 hours into a flight from London to Singapore, the airline said.
Persons: Christopher Waller, Waller, Biden, Jennifer Granholm, Walt Disney, Bob Iger, Jesse Pound, JPMorgan's Marko Kolanovic Organizations: New York Stock Exchange, CNBC, Nasdaq, Nvidia, Dow Jones, Federal, Gasoline, East, Pixar, Studios, Disney, Walt Disney Animation, Singapore Airlines, Singapore Airlines Flight, Boeing, Wall Street Locations: New York City, Israel, Thailand, London, Singapore
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024. Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions. Minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee released Wednesday indicated apprehension from policymakers about when it would be time to ease. The meeting followed a slew of readings that showed inflation was more stubborn than officials had expected to start 2024. The Fed targets a 2% inflation rate, and all of the indicators showed price increases running well ahead of that mark.
Persons: Jerome Powell, Christopher Waller, FOMC, Stocks Organizations: Federal, Committee, Federal Reserve, Market, Fed, University of Michigan, New York Fed Locations: Washington , U.S
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Federal Reserve Governor Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary. Yet Waller said he's not ready to back interest rate cuts. Markets have had to recalibrate their expectations for monetary policy this year. In the early months, futures markets traders priced in at least six rate cuts this year starting in March.
Persons: Christopher Waller, Waller, he's Organizations: US Federal Reserve, Washington , D.C, Federal, Peterson Institute for International Economics, Market, Labor Department Locations: Washington ,, Washington
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer described the market as overall "benign," while the S & P 500 and Dow also traded pretty flat. Eli Lilly received approval for its GLP-1 drug tirzepatide in China. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Christopher Waller, Jim, Waller's, billings, Eli Lilly, Jim Cramer's Organizations: CNBC, Nasdaq, Dow, Washington , Federal Reserve, Palo Alto Networks, Club Locations: Washington ,, Palo, billings, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Governor Christopher Waller: Don't think we are going to need to raise ratesCNBC's Steve Liesman sits down with Fed Governor Christopher Waller to discuss inflation, rate policy, and more.
Persons: Christopher Waller, Steve Liesman Organizations: Fed
Stock trades fell flat as investors take a breather ahead of Nvidia's earnings. 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 . AdvertisementThe latest rally in stocks faltered Tuesday morning, with investors stepping back ahead of Nvidia's upcoming earnings report and further communications from Federal Reserve officials. Tuesday will also be saturated with speakers from the Federal Reserve, whose comments could provide insight into monetary policy.
Persons: , Dow, Jamie Dimon, David Morrison, Thomas Barkin, Christopher Waller, John Williams, Raphael Bostic, Susan Collins, Loretta Mester Organizations: Fed, Service, Federal Reserve, Nasdaq, Alto Networks, Urban Outfitters, Toll, Trade Nation Locations: Here's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Several months' of good inflation data needed before lowering rate, Fed's Waller saysCNBC's Steve Liesman reports on the latest news from the Federal Reserve.
Persons: Fed's Waller, Steve Liesman Organizations: Federal Reserve
The S&P 500 came close to breaching a new high, as investors gear up for Nvidia earnings on Wednesday. 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 . AdvertisementThe S&P 500 closed at a record high Tuesday, as investors gear up for Nvidia's highly-anticipated earnings report. By now, the semiconductor manufacturer has a reputation for leading broader stock market upside and traders are eyeing the release as the next big catalyst as the market heads toward summer.
Persons: Christopher Waller, Crypto, , cryptocurrency Organizations: Service, Nasdaq, Federal Reserve, ethereum, Here's
Stock futures are near flat Monday night after the technology-heavy Nasdaq Composite closed at an all-time high. Dow Jones Industrial Average futures lost just 27 points, while S&P 500 futures also sat near its flatline. Those moves come after a mixed day on Wall Street. But the blue-chip Dow slipped almost 200 points, or 0.5%. Monday's action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy.
Persons: Dow, Jamie Dimon, Keith Buchanan, Christopher Waller, Tom Barkin, Raphael Bostic Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Palo Alto Networks, LSEG, Nvidia, JPMorgan, Globalt Investments, Federal, Richmond Fed, Atlanta Fed, Traders
Wealthy Americans are starting to spend more carefully
  + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com   time to read: +7 min
A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.
Persons: they’ve, , ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, , Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington
Soaking storms will shift east on Friday and target more of the Gulf Coast after rumbling to life Thursday afternoon in parts of Texas. Floods deluge roads: Several roads closing in northern and eastern Bosque County, Texas due to water over crossings or bridges. More than a dozen school districts closed: The Houston Independent School District has announced campuses will be closed on Friday and will reopen next week. Schools will reopen on Monday, May 20,” the school district said in a message on Facebook. A handful of Houston-area school districts announced they would close Friday as well, including Aldine Independent School District, Channelview Independent School District and Cypress-Fairbanks Independent School District.
Persons: Mary Benton, Samuel Peña, Houston Mayor John Whitmire, Houstonians, Seth Waller, Bell County . Organizations: CNN, Houston Fire Department, Texas -, Florida Panhandle, National Weather Service, Hyatt, CenterPoint Energy, Houston Mayor, Houston, College Station, Houston Independent School, HISD, City of, Facebook, Aldine Independent School District, Channelview Independent School District, Fairbanks Independent School District Locations: Texas, Louisiana, Houston, Gulf, Mississippi, Alabama, Texas - Louisiana, Georgia, Florida, New Orleans, Baton Rouge and New Orleans, Hyatt Regency, Bryan, College, Bosque County , Texas, Bell County, Bell County . McLennan, Falls, City of Houston, Cypress
CNN —Three-time Super Bowl champion and four-time All-Pro Travis Kelce has signed a record contract for NFL tight ends, according to his representatives. “Back at it again, baby!” Kelce, an 11-year veteran, exclaimed in a video posted by the team on X, formerly Twitter. The $17.125 million yearly average outpaces New York Giants tight end Darren Waller, who had been the league’s highest-paid player in the position, with a salary of $17 million per year, per Spotrac. After winning his third Super Bowl, he and Swift took a vacation in the Bahamas. In an exclusive interview with People magazine, the tight end shared his joy about his current life.
Persons: Travis Kelce, , ” Kelce, , Darren Waller, Patrick Mahomes, y’all I’ll, Taylor Swift, Swift Organizations: CNN, NFL, KC, Sports, New York Giants, Chiefs, Kelce, Bowl Locations: Bahamas
Bruch is one of the largest individual FTX creditors and has been tapped by the US Department of Justice to serve as one of nine on the FTX Creditors’ Committee, where he is working to recoup the funds lost by customers. DOJ-appointed creditor committees ordinarily consist of people and companies who hold the seven largest unsecured claims against the debtor (in this case, FTX), according to the agency. Before the Bell spoke with Bruch about Sam Bankman-Fried, FTX, MyPrize and the future of crypto. I feel for all of the creditors and am doing everything I can to help recoup what was taken from us. I’ve worked at some of the largest crypto trading desks in the world and then also started trading my own book of capital and grew to become one of the largest individual crypto traders.
Persons: Sam Bankman, Fried, Zach Bruch, Bruch, MyPrize, Bell, Sam Bankman Fried, , , Sam Bankman Fried’s, Bitcoin, I’ve, Elisabeth Buchwald, Jerome Powell wasn’t, ” Powell, Powell, Christopher Waller, Evan Gershkovich, Evan Gershkovich’s, Radina Gigova, Anna Chernova, Antonina Favorskaya, Alexey Navalny, Favorskaya, Gershkovich Organizations: CNN Business, Bell, New York CNN, US Department of Justice, , DOJ, Arrington Capital, Department of Justice, Federal, Commerce Department, San Francisco Fed, ” Fed, CNN, Wall Street Locations: New York, Russia, Yekaterinburg
Gold holds steady as traders await U.S. data for more Fed cues
  + stars: | 2024-03-28 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices steadied on Thursday as investors digested comments from Federal Reserve Governor Christopher Waller on interest rate cuts and looked forward to more U.S. economic data for policy clues. Gold prices steadied on Thursday as investors digested comments from Federal Reserve Governor Christopher Waller on interest rate cuts and looked forward to more U.S. economic data for policy clues. Fed Governor Waller on Wednesday said recent disappointing inflation data affirms the case for the U.S. central bank holding off on cutting its short-term interest rate target. Traders are currently pricing in a 62% probability the Fed will begin cutting rates in June, according to the CME Group's FedWatch Tool. Lower interest rates reduce the opportunity cost of holding bullion.
Persons: Christopher Waller, Ilya Spivak, Fed Governor Waller Organizations: Federal Reserve, Fed, U.S, Traders Locations: Ukraine
Dollar firm after Fed comments; yen under close watch
  + stars: | 2024-03-28 | by ( ) www.cnbc.com   time to read: +3 min
"There is no rush to cut the policy rate" right now, Waller said in a speech prepared for delivery before an Economic Club of New York gathering. The dollar index , a measure of the greenback against major peer currencies, ticked up in the wake of Waller's comments and last held mostly unchanged at 104.41. Traders await key U.S. core inflation figures due on Friday, following a bigger-than-expected jump in U.S. durable goods orders on Tuesday that has already boosted the dollar against the yen. The greenback reached 151.975 yen on Wednesday, its strongest against the yen since mid-1990. Japan intervened in the currency market three times in 2022, selling the dollar to buy yen, first in September and again in October as the yen slid towards a 32-year low of 152 to the dollar.
Persons: Christopher Waller, Waller, It's, Kyle Rodda, Rodda, Masato Kanda, Shunichi Suzuki, That's, Ray Attrill, Sterling, bitcoin Organizations: U.S, Federal Reserve, Federal, Economic, of New, Traders, Finance, National Australia Bank, Bank of Japan's Locations: of New York, Japan
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.
Persons: Jerome Powell, William McChesney Martin, Chip Somodevilla, Steven Blitz, Blitz, They're, CNBC's, it's, Christopher Waller, Waller, Raphael Bostic, Jerome, Powell Organizations: Bank, Getty, Federal Reserve, TS Lombard, Traders, Fed, Vanguard, Economic, of New, Atlanta Federal Reserve, US Federal Reserve, Bloomberg Locations: Washington ,, U.S, of New York, Atlanta, Washington , DC
The Rent Was Too High So They Threw a Party
  + stars: | 2024-03-28 | by ( Debra Kamin | ) www.nytimes.com   time to read: +2 min
Minnie Pindar’s name reappears as Minnie Gilmore in a 1952 marriage license to Scotty Eckford, a union organizer of Black hotel employees in New York City. Mr. Eckford was also the uncle of Elizabeth Eckford, the American civil rights activist who made history in 1957 when she enrolled in the all-white Little Rock Central High School and attended class. Her younger son, Cleveland Gilmore, was 2 on that unseasonably warm November night in 1929. As an adult, he never talked about rent parties, or life in Harlem at all. He would tell us little things, like how he would buy watermelon for a nickel, but I never knew about his family.”The elder Mr. Gilmore died of a brain aneurysm in 2004, when Amir was 14.
Persons: Minnie Gilmore’s, Minnie Pindar’s, Minnie Gilmore, Scotty Eckford, Eckford, Elizabeth Eckford, Pindar, Cleveland Gilmore, , , Gilmore, Amir, Billie Holiday, Bessie Smith, Ethel Waters, Calloway, Fats Waller, Harry Dial, Herman Autrey Organizations: Rock Central High School, Harlem Renaissance, Alhambra, Cotton Club Locations: New York City, Bronx, Harlem, Cleveland
The 2-year Treasury yield was last up by 6 basis points at 4.63%. The yield on the 10-year Treasury had risen 1 basis point to 4.21%. The 2-year Treasury yield ticked higher Thursday as investors considered the path ahead for interest rates following comments from a Federal Reserve official and prepared for key inflation data. Investors weighed the outlook for monetary policy and looked ahead to key economic data as uncertainty around when and how often interest rates will be cut this year persists. Federal Reserve Governor Christopher Waller on Wednesday said there was "no rush" to cut interest rates, adding that recent economic data indicated that rates may need to stay elevated for longer.
Persons: Christopher Waller, Waller, Dow Jones Organizations: Treasury, Federal Reserve, Investors, Federal, PCE
Fed's Waller: No rush to cut rates
  + stars: | 2024-03-27 | 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 EmailFed's Waller: No rush to cut ratesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Fed's Waller, Brian Sullivan, Organizations: CNBC
ET, the yield on the 10-year Treasury was up by less than one basis point to 4.2415%. The yield on the 2-year Treasury was last at 4.6013% after rising by less than one basis point. U.S. Treasury yields held steady on Wednesday as investors considered the economic outlook and looked to fresh data. Investors looked to the latest data and remarks from Federal Reserve officials as they weighed the outlook for the economy. No key data is slated for Wednesday, but Fed Governor Christopher Waller is expected to give remarks later in the day.
Persons: Christopher Waller Organizations: Treasury, Federal Reserve
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