Bloomberg Interactive Broker Studio, Federal Reserve, Neil Grossman discussed on Bloomberg Markets


The Bloomberg interactive broker studio in New York City to our worldwide audience. We're going to have a big opening half hour for you. We're going all Federal Reserve all Bank of England. We're going to do it on a round table with Neil Grossman former CIO, a TK NG capital. He's going to join us also Danielle dimartino booth of quill intelligence. They're going to be both of them in studio and we're going to be talking the fed, we're going to be talking inflation. We're going to be talking about a recession and what it means for these markets. So all star roundtable coming up. But first, let's go to John Tucker and get a Bloomberg business. All right, Paul, thanks to the S&P 500 dropping for a fourth consecutive session. Ten of the 11 industry groups and the broader index they are lower right now, being led by tech, information technology, communication services, there is some green energy is actually the best performing group right now. Well, of course, a day after the fed decision to deliver another jumbo sized industry rate increase traders of betting rates will now be held at a higher level for a longer period to not down inflation. You look at the swaps markup rates for swaps that reference future fed meetings rising further with the May and June 2023 contracts indicating that expected peak rate of around 5.2%. Economists Caleb Pickering at barenberg says short term gain from the fed, the pain for the pitch short term will lead to longer term gains. Fed is seems to be determined to bring down inflation. This is actually a short run problem for markets, but probably I think over the next few weeks it becomes something that helps us a little bit. The two year yield right now up 7 basis points four 69. The ten year yield, that is a 5 basis points four 15 right now, the spread between the two, a negative

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