Treasuries might look cheap against stocks, GDP and the global cycle, but on their own historical terms they have more to fall before they become oversold and ready for a durable bounce.
Southern California and the West will start October much warmer than normal, after the US had its second-hottest September on record, according to a key metric used by energy traders and meteorologists.
The US 10-year yield hits its highest level since 2002 as rising oil prices fuel a renewed selloff in global bonds. US equity futures get support from chipmakers following an upbeat forecast from Micron. The results were driven by the AI building frenzy, but warned that rising compensation would weigh on profit margins. US companies announce the fewest number of job cuts for any September since 2022. Anastasia Amoroso of Partners Group joins "Bloomberg Brief" to discuss the bond selloff and the biggest risks to the economy. (Source: Bloomberg)
Just hours after Paramount Skydance Corp. issued $52 billion of debt to fund the biggest Hollywood buyout ever, investors were nursing more than $100 million of losses, triggering a flurry of angry calls from money managers to Wall Street banks that underwrote the debt.
Wei Li, BlackRock's Global Chief Investment Strategist said the release of new AI agents may "catalyze a wave of AI adoption". In an interview on "The Pulse with Francine Lacqua" on Wednesday September 30, Li also discussed the impact of the energy price shock, saying that the disruption to oil flows in the Strait of Hormuz is creating "macro damage", and that energy is a "big caveat" to their risk-on view. (Source: Bloomberg)
A near $100 billion rout in September has left South Africa’s benchmark stock index at its most oversold level in 17 months, according to a momentum indicator that measures the speed and magnitude of recent price moves.
Federal Reserve Bank of Minneapolis President Neel Kashkari sees the US economy growing and is surprised by its resilience “in the face of tariffs and the conflict in Iran." He says on “Bloomberg Surveillance” that the central bank “will do what we need to do to get inflation back down to our target.” (Source: Bloomberg)
Anastasia Amoroso, Chief Investment Strategist of Partners Group, joins Bloomberg's Vonnie Quinn on "Bloomberg Brief" to discuss the US Challenger September job cuts data along with the rise of yields. (Source: Bloomberg)
Kelsey Berro, fixed income portfolio manager at JPMorgan Asset Management, discusses recent changes in the bond market selloff, saying it now feels “very technically-driven, very momentum-driven.” Berro says on “Bloomberg Surveillance” that she expects investors to refocus soon on the fundamentals and valuations of the market. (Source: Bloomberg)
A move higher in oil is putting even more pressure on bonds, with yields hitting new milestones in a number of markets including the UK and the US. The UK’s long-term borrowing costs hit 6% for the first time in almost three decades whilst the 10-year Treasury note climbed to the highest since 2002. It comes as government debt has been flailing around the world as uncertainty — tied to the war in the Middle East — ripples through the global economy, pushing investors to bet central banks will further raise interest rates. But bond veteran Jim Bianco, President and Founder of Bianco Research, is bullish on US sovereign debt on the basis of value generation. He discusses the reasoning behind his position with Caroline Hepker and Nathan Hager. (Source: Bloomberg)
Julian Emanuel, chief equity and quantitative strategist at Evercore ISI, explains why he expects volatility in stocks in the fourth quarter and frames rising bond yields as “a new normal.” (Source: Bloomberg)
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Today's guests: Jim Bianco, Bianco Research President and Macro Strategist; Leo Barincou, Oxford Economics Senior Economist; Benedetta Berti, NATO Parliamentary Assembly Secretary General (Source: Bloomberg)
Indian stocks tumbled as a global bond rout gathered momentum and oil prices remained elevated, deepening concerns over the outlook for the crude-importing nation.
Fintech unicorn MNT Halan is proceeding with a long-anticipated initial public offering in Egypt, seeking to capitalize on a stock-market rally and booming consumer lending in the Middle East’s most populous nation.
President Donald Trump said former Federal Reserve Chair Jerome Powell “should be forced to resign” from the Fed’s Board of Governors over findings the central bank mismanaged the renovation of its headquarters. Rachel Schilke of Bloomberg Government has more. (Source: Bloomberg)
Persian Gulf oil producers are shifting critical cargo transfer operations even farther out of the war-hit region as waters just outside the Strait of Hormuz become congested with tankers.
Higher bond yields are justified by stronger nominal economic growth and rising inflation, making them a strong investment choice, says Jim Bianco, president and macro strategist at Bianco Research. Bianco tells Bloomberg Television that he has invested in bonds for the first time in six years and suggested the US 10-year Treasury note could rise toward 5.50% to 5.75%, but said yields around 5.25% are already attractive enough. (Source: Bloomberg)
