25 Burst results for "Mary Daly"

A highlight from MARKETS DAILY: Crypto Update | The Tone of the Federal Reserve Is Shifting

CoinDesk Podcast Network

04:08 min | Last month

A highlight from MARKETS DAILY: Crypto Update | The Tone of the Federal Reserve Is Shifting

"This episode of Markets Daily is sponsored by CME Group. It's Wednesday, October 11th, 2023, and this is Markets Daily from Coindesk. My name is Noelle Acheson, Coindesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about spot ETFs, Bitcoin, inflation, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice. And just a reminder, Coindesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto markets are particularly choppy at the moment, with general risk -off sentiment keeping a lid on prices. After drifting lower yesterday, Bitcoin's price dropped sharply this morning, at one point shedding 1 .1 % in just five minutes. It has since recovered part of the loss. According to Coindesk indices, at 8 a .m. Eastern time today, Bitcoin was down 1 % over the past 24 hours, trading at $27 ,230. Ether dropped even more sharply, losing 1 .5 % in the same five minutes. Unlike Bitcoin, however, it has since clawed back all of that loss. However, it is still down roughly four -tenths of a percent over the past 24 hours, trading at $1 ,575. Even though Bitcoin's price has not been doing well this week, it is still up 1 % so far this month. October is typically a strong month for Bitcoin, with an average return of all Octobers since 2010 of 25%. Obviously, averages are just that, the average of a range of movements. But if that average is met this month, that would put Bitcoin at just over $34 ,000. Moving on to signals in the macro market, we now have more confirmation that the tone of the Federal Reserve is shifting. In yesterday's episode, I spoke about comments on Monday from two Federal Reserve officials. These suggested that the central bank was now more willing to let the bond market handle some of the tightening going forward, implying that the Fed wouldn't need to raise rates quite as much. Well, yesterday we heard from more central bank representatives. Minneapolis Fed President Neil Kashkari echoed the earlier comments of his colleagues. So did San Francisco Fed President Mary Daly. Atlanta Fed President Raphael Bostic went even further and said the quiet part out loud, I quote, I actually don't think we need to increase rates anymore, end quote. On this bond yields fell further. Remember that bond yields move inversely to price. Earlier today, the 10 -year US Treasury yield almost reached 4 .5%, its lowest point since late September, after yesterday, registering its steepest one -day drop since August. This yield adjustment is largely in the long end of the yield curve. The rate on US two -year notes is up on yesterday's close, while the 10 -year yield is still falling down 1 .4 % or 6 basis points earlier today. Yields are still high across the board, though. This will continue to apply pressure to corporate profitability and bank balance sheets. In other macro news, yesterday we saw the leading small business optimism index decline for the second month in a row. A small increase had been expected. Also, US producer prices are just out. These measure selling prices from domestic producers and are another way to look at inflation. The index rose half a percent month over month in September, more than expected, but the smallest increase in three months. In other words, inflation continues to moderate, but is far from vanquished.

Noelle Acheson Monday 1 .4 % 1 .1 % Cme Group 1 .5 % Wednesday, October 11Th, 2023 Federal Reserve $27 ,230 4 .5% 25% One -Day Yesterday Second Month $1 ,575 1 % October 10 -Year Three Months This Week
Fresh update on "mary daly" discussed on Bloomberg Law

Bloomberg Law

00:00 min | 9 hrs ago

Fresh update on "mary daly" discussed on Bloomberg Law

"Bloomberg and iHeartRadio, highlighting the best reporting by Bloomberg News from around the globe. This trend you're seeing is very the much at top of the phone. They're printing money like never before. Each weekday we dig into one important story and tell you why it matters. Given the climate crisis, gas isn't clean enough. AI is transforming our political reality. Listen to the Big Take on the iHeartRadio app, Apple Podcasts or wherever you listen. Radio. Bloomberg Context changes everything. The Fed's top names are on Bloomberg Radio. Atlanta Fed President Bostic. Rafael Today my outlook is that we're going to stay on that slow and steady. Minneapolis Fed President Neil Kashkari. We have to let the inflation data guide us, the labor market data guide us. San Francisco Fed President Mary Daly. We are committed to keeping rates higher for longer. Listen on Bloomberg Radio or anytime on the Bloomberg Talks Podcast. Bloomberg. Everything. Now is the time to plan for the coming year's tax and financial needs. I'm Russell Shinsky, Anshin's managing partner. Does your accounting and tax firm still feel like a fit for your budget? Anshin provides what you're missing. Timely attention, reliable and effective guidance, and a coordinated approach to achieving your financial goals. Let Anshin accountants and advisors map out a tax strategy that ensures you're not leaving money on the table. Visit

A highlight from Crypto Update | The Tone of the Federal Reserve Is Shifting

Markets Daily Crypto Roundup

04:08 min | Last month

A highlight from Crypto Update | The Tone of the Federal Reserve Is Shifting

"This episode of Markets Daily is sponsored by CME Group. It's Wednesday, October 11th, 2023, and this is Markets Daily from Coindesk. My name is Noelle Acheson, Coindesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about spot ETFs, Bitcoin, inflation, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice. And just a reminder, Coindesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto markets are particularly choppy at the moment, with general risk -off sentiment keeping a lid on prices. After drifting lower yesterday, Bitcoin's price dropped sharply this morning, at one point shedding 1 .1 % in just five minutes. It has since recovered part of the loss. According to Coindesk indices, at 8 a .m. Eastern time today, Bitcoin was down 1 % over the past 24 hours, trading at $27 ,230. Ether dropped even more sharply, losing 1 .5 % in the same five minutes. Unlike Bitcoin, however, it has since clawed back all of that loss. However, it is still down roughly four -tenths of a percent over the past 24 hours, trading at $1 ,575. Even though Bitcoin's price has not been doing well this week, it is still up 1 % so far this month. October is typically a strong month for Bitcoin, with an average return of all Octobers since 2010 of 25%. Obviously, averages are just that, the average of a range of movements. But if that average is met this month, that would put Bitcoin at just over $34 ,000. Moving on to signals in the macro market, we now have more confirmation that the tone of the Federal Reserve is shifting. In yesterday's episode, I spoke about comments on Monday from two Federal Reserve officials. These suggested that the central bank was now more willing to let the bond market handle some of the tightening going forward, implying that the Fed wouldn't need to raise rates quite as much. Well, yesterday we heard from more central bank representatives. Minneapolis Fed President Neil Kashkari echoed the earlier comments of his colleagues. So did San Francisco Fed President Mary Daly. Atlanta Fed President Raphael Bostic went even further and said the quiet part out loud, I quote, I actually don't think we need to increase rates anymore, end quote. On this bond yields fell further. Remember that bond yields move inversely to price. Earlier today, the 10 -year US Treasury yield almost reached 4 .5%, its lowest point since late September, after yesterday, registering its steepest one -day drop since August. This yield adjustment is largely in the long end of the yield curve. The rate on US two -year notes is up on yesterday's close, while the 10 -year yield is still falling down 1 .4 % or 6 basis points earlier today. Yields are still high across the board, though. This will continue to apply pressure to corporate profitability and bank balance sheets. In other macro news, yesterday we saw the leading small business optimism index decline for the second month in a row. A small increase had been expected. Also, US producer prices are just out. These measure selling prices from domestic producers and are another way to look at inflation. The index rose half a percent month over month in September, more than expected, but the smallest increase in three months. In other words, inflation continues to moderate, but is far from vanquished.

Noelle Acheson Monday 1 .4 % 1 .1 % Cme Group 1 .5 % Wednesday, October 11Th, 2023 Federal Reserve $27 ,230 4 .5% 25% One -Day Yesterday Second Month $1 ,575 1 % October 10 -Year Three Months This Week
Fresh update on "mary daly" discussed on Bloomberg Markets

Bloomberg Markets

00:00 min | 19 hrs ago

Fresh update on "mary daly" discussed on Bloomberg Markets

"And those changes impact our lives in ways that are possible and not so obvious. I'm Lucas Shaw and I cover the business of pop culture for Bloomberg. My job always is changing. Find out more at ibkr .com. Find out more at ibkr .com. See you next I change things. Context changes everything. Start exploring my coverage at Bloomberg .com came with a warning app Stop. That dog does not want to be petted. A heads up before something bad happens. You should not send that text. Uh oh. Life doesn't always give you time to change the outcome but prediabetes does. With early diagnosis and a few healthy changes you can reverse prediabetes and delay type 2 diabetes. To learn your risk take the one minute test today at do I have prediabetes .org. Brought to you by the ad council and its prediabetes awareness partners. The Feds top names are on Bloomberg radio. Atlanta Fed President Raphael Bostic. Today my outlook is that we're going to stay on that slow and steady. Minneapolis Fed President Neil Kashkari. We have to let the inflation data guide us, the labor market data guide us. San Francisco Fed President Mary Daly.

Monitor Show 12:00 10-05-2023 12:00

Bloomberg Radio New York - Recording Feed

01:54 min | 2 months ago

Monitor Show 12:00 10-05-2023 12:00

"The United States Border Patrol has exciting and rewarding career opportunities with the nation's largest law enforcement organization. Border Patrol agents enjoy great pay, outstanding federal benefits, and up to $20 ,000 in recruitment incentives. If you are looking for a way to serve something greater than yourself, consider the United States Border Patrol. Learn more online at CBP .gov slash careers slash USBP. That's CBP .gov slash careers slash USBP. That's Bloomberg. That there is room for things to deteriorate a little bit more than what they're indicating. As small and medium -sized businesses struggle, they don't present as much competition. The supply chain has still got dislocations globally and here in the U .S. This is Bloomberg Markets with Paul Sweeney and Matt Miller on Bloomberg Radio. Coming up in this hour, lots of stuff coming on. Lisa Baramos is sitting down with San Francisco Fed President Mary Daly at the Economic Club of New York. That's coming up in just moments. We will bring that to you. That should be very interesting. Plus, I'm also going to talk real estate here. We do that with Selma Hepp, chief economist at CoreLogic. Talk about the housing market. We've got interest rates. Mortgage rates like 7 .7 percent. What do you do with that? So we'll get that latest there. But right now, let's kick things off with Mr. Charlie Pelley. Thank you very much, Paul Sweeney with the S &P NESDAQ. They're all in the red. You were talking about crude oil to sell off there just a couple of minutes ago. Right now, West Texas...

Lisa Baramos Selma Hepp Matt Miller 7 .7 Percent Charlie Pelley Corelogic Paul Sweeney United States Border Patrol Bloomberg West Texas Up To $20 ,000 S &P Nesdaq Border Patrol Mary Daly Cbp .Gov U .S. Couple Of Minutes Ago President Trump Economic Club Of Bloomberg Radio
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:03 min | 11 months ago

"mary daly" Discussed on Bloomberg Radio New York

"Super simple, overwhelmingly, the takeaway from that seems to be that investors are positioned for upside risk just in case it's a runaway rally there not a part of. And basically led by tech, people did not get rid of their tech bets, and they're basically doubling down that they're going to get a reprisal of the gains that they previously saw. That's the single most important thing we've heard today except maybe that stunning 6% China call really importantly that they still have a belief and what mother Apple will do. And that's what they're doing, not what they're saying. We've had some big calls this morning and haven't we. And one of the things. Max was bearish for the whole of 2022. And then we enter 2023. It is January 10th, and he has become constructive. He's going to join us next. The chief multi asset strategist at HSBC, that conversation on Bloomberg TV and on Bloomberg radio in about 5 minutes from now. Look out for that conversation. Look out for chairman Powell. He'll be on in a couple of hours time. We don't have it yet. We may get a positive Bloomberg financial conditions index. Three weeks ago, that was impossible. And just to be clear, is that easing or a time? That is a financial accommodation. Push back at a bit later. He will. At the Rick's represent certain Mary Daly told me. Married tidy told you. When does she tell you that? In the diner. Upper coffee. It Jackson hole Wyoming. Yeah, a number of months ago. Yeah, okay. It wasn't the diner. It was a barb. It was the bar, okay? Just to clarify. We had what time is that? 10 a.m.. That's what they drink in San Francisco. For not bronze. She goes, we have to have a San Francisco drink. So that's about a bottle of fruit on planet. That's not rumors. She's my favorite, full disclosure. Mary Daly is my absolute favorite the fed. I thought we didn't do favorites. Mary Daly has a handle on America like no one was asked to George and Nash is leaving. Yeah, I'm such a George, but she took the dog. She took transitory with her from the pivot. Pivot was a puppy. This is flowing back. Bloomberg surveillance

Bloomberg TV chairman Powell Mary Daly HSBC Max China Apple San Francisco Rick Wyoming Jackson fed George Nash America
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:44 min | 11 months ago

"mary daly" Discussed on Bloomberg Radio New York

"People who are betting against the fed. The only problem here, is jolts the vacancy rate continues to be obdurately stunningly high. Suggesting there's a very tight labor market and that is the big thing that the fed is very worried about. There is something very strange about the way the labor market is clearing at present. And the data on that front have been an unpleasant surprise, even though yes, there have been some significant pleasant surprises, but that central and its central enigma of what's on earth is going on in the labor market remains us intractable as ever. Mary Daly of the San Francisco fed actually spoke about Joel's data before the holidays I remember her talking about it how she was watching it very closely. Numeric opinions John author is continues with me in moments. We shift to this week's chaos in Congress as the house tried repeatedly to elect a speaker. I am somewhat concerned that the market isn't reacting somewhat more negatively to this. The single biggest reason for this is I have a horrible feeling I'm going to have to write a lot about the debt ceiling over the next 12 months. One of the big arguments so if Congress refuses to raise the debt ceiling, then it's conceptually possible to refuse to give the government the money it needs to pay off debts. It's already incurred and already promised to repay. So Congress can theoretically force Uncle Sam to default. Which would be at least as bad as what happened in 2008. Probably worse. Plenty of good arguments in favor of being fiscally more

fed Mary Daly Congress Joel San Francisco John house Uncle Sam
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:32 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"Of multi asset strategy, John bilton now. So Mary Daly saying, look a pause is not in the cars, but you seem to get to the point where for some investors at least the analysis is you just get a slowdown in the rate hike cycle and that very quickly is followed by a pause. Is that a miscalculation by some of these market participants? I think there's a little bit of over excitement in terms of where the fed are going. I mean, the labor market is still creating jobs at a level which is well in excess of trend growth in the U.S. and we need to go through a period if we are to avoid a full on recession where there's a period of sub trend growth. Clearly we've had some good news on inflation, which the fed will have watched closely that these things take time to accrue. We're not going to suddenly come collapsing down back to the fed's target in terms of inflation. It's going to be a gradual move over the course of next year. So will the fed slow their pace? Well, yes, of course. But does that translate to a pause and then a reversal? That's where I think the market is perhaps getting over its skis. Does it translate to a pause somewhere in the 5, 5 and a quarter kind of range? That seems sensible. But I think at that particular point, just remember, as inflation comes down next year, sometime during the first half, the front end of the curve will go from negative real rates to positive real rates. Here, more conversations like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app. Or check your local cable listings. Good morning, everyone. Bloomberg surveillance

John bilton fed Mary Daly U.S. Bloomberg
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:35 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"On this weekend edition of Bloomberg best, the feds Mary Daly says the inflation fight will continue. We have to be prepared for inflation to be a little more persistent because it has been a little more persistent than I think most people are expecting. Could the dollar end up being the straw that breaks the fed's back? The soaring dollar has been associated in the past with creating financial crises on a global basis. We have to have a global perspective on all this tight monetary policy here as having a tremendous impact. And the price per barrel of crude oil could go away higher. If demand can respond 228 130, which is our House view, then I don't necessarily see a demand collapsing, and then it's all about supply. Bloomberg best, Bloomberg's best stories of the week, powered by 2700 journalists and analysts in more than a 120 countries around the world. Big week for crude oil with some huge gains earlier in the week amid the ongoing volatility and studies energy minister, prince Abdullah's has been Salman with us after OPEC plus announced the latest round of production cuts. In order for us to be attentive, we have to certainly be assertive, preemptive and we have to be proactive. Studies energy minister prince Abdul Aziz bin Salman. Meantime, Christian Malik, analyst at JPMorgan, tells Bloomberg's Tom Keene and Lisa Brahman. There's a lot of pressure on the oil prices to rise from here, including capacity for short Tom. We're seeing a repricing of oil to the marginal barrel and it's away from a bag. It's away from opaque and is going back into control of the majors who are representing some of between 35 to 40% of the world's oil. And then on spending, they're not investing at these levels, which then begs the question, what price will they spend? Will they grow their production? And reinvest into those long-term projects. And I think we're going to need a significantly higher price, which in some ways is potentially what our bank is trying to do. They're trying to defend. Right. But the backing. The trying of OPEC, I have the memory of 1986, oil plunging 24% is my quick mathematics. How close is the cartel to a 1986? I think in terms of how close they are, that will all depend on how demand responds to the current price. And we know that there arguably looking for a higher price, potentially closer to where their fiscal break evens are, ultimately, it's not just the break even of the countries, it's also what they want in terms of defending social reform and we know there's a lot of issues at the moment with the high energy prices. So that price level versus what the U.S. wants suggests there's arguably a price war that's emerging between these two continents, but in the end, if demand can respond 228 130, which is our House view, then I don't necessarily see demand collapsing. And then it's all about supply. It's a supply driven crisis, which is ultimately where our supercycle thesis projects for the next 5 to 7 years. Where are we in terms of the U.S. as a swing producer at this point, given the lack of investment in the shale patch and just generally throughout the energy sector? It's interesting. It's like it's being dismantled. It's parts of rusty. You put it back together again. It's just not as effective in terms of productivity in terms of production, volumes, and ultimately they've got used to returning cash and getting more popular with Wall Street. So you have to sort of think about what price they need to cover. They're all their CAPEX, all their cash return, as well as a price they can necessarily see much bigger volumes of growth with all the money in the world. And that's much higher. This closer to 80 to $90. So we're not seeing as much volume growth this year close to 700 and a thousand barrels, similar to next year. And I think that's the key. So right now, if you're not seeing production increase and you're actually seeing production cuts at OPEC plus, where does the marginal stop gap come in? We talk about the strategic petroleum reserve and how much the U.S. has already drawn down on some of those reserves. The world is short energy. Across all fuels. And that's what we've been talking through this year. The key here is that the marginal jewel, if you like, is oil, there's a bit like saying to your customers, but good news and bad news. The good news is, I've got oil, you know, still got some energy. The bad news is you're going to have to pay a lot more for it. Christian melek, analyst at JPMorgan with Bloomberg's Tom Keene and Lisa. And Damien corville and head of energy research at Goldman Sachs is also bullish on oil, and he tells Bloomberg's Kathleen Hayes oil prices will rise unless. Significant economic hard landing remains bearish risk to oil prices here. And absent that risk, the market at $90 is already pricing weak economic growth. So we really need that sequential slowdown. All the developments we've seen on the supply side at this point very much sets the stage for what we believe will be higher prices into the end of this year. So really, I would focus on that economic sharp slowdown as the one risk to be bullish. It has to be a meaningful slowdown from. All right. So what does this mean for investors? And that question has many angles because you might say, oh, energy companies. The Giants, you might say, well, it's going to mean that macroeconomic things look a little better for the oil exporters. How do you answer that question? It's sort of the view that oil prices are not high enough to balance the commodity market. Let's start there. Demand has outstripped supply pretty much continuously since May of 2020. And with this cut and the winter seasonal demand, inventories will continue to fall. So we do need higher prices to solve this deficit. So that's the commodity. Ultimately, what stops the increase in commodity prices for the years to come has to be more supply. I think that's the defining driver of higher prices for the last couple of years. We don't have enough investment in new productive capacity. So you could think of oil prices as negative to the macro in the short run. But if no one's growing capacity, it's an even bigger headwind to economic growth for the years to come. So that means the equities also will have to appreciate. They will be the driver of that CAPEX investors will be allocating to the sector. So our strategies are overweight, the energy equity sector, and we're bullish to commodity itself. Debian corville, head of energy research at Goldman Sachs, with Bloomberg's Kathleen Hayes. And coming up, LGBTQ+ rights

Bloomberg Tom Keene OPEC prince Abdul Aziz bin Salman Christian Malik Lisa Brahman Mary Daly JPMorgan prince Abdullah Salman U.S. fed Christian melek Damien corville Kathleen Hayes strategic petroleum reserve Tom
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:43 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"It's 5 30 on Wall Street. Good morning. I'm Nathan Hager. And I'm Karen Walsh. Yeah, we are just about four hours away from the open of U.S. trading must get you up to date in the news you need to know what this shower, U.S. futures are lower in muted action this morning. That's after stocks snapped a two day winning streak yesterday. Mainstay capital management founder David kudla says right now, it's time to be defensive. The classic 60 40 portfolio. This found more than 20% this year. Liquid alternatives that offer an opportunity for a positive return because of the strategies of shorting stocks actually generate positive returns. David kula with mainstay capital says it's wishful thinking to believe that rate high she'll bring down inflation anytime soon. While still care and fed officials keep banging the drum for tighter policy insisting they do not plan to cut rates next year. San Francisco fed president Mary Daly spoke with Bloomberg yesterday. It's also very damaging to the economy to have this level of inflation. So we're committed to bringing it down and staying the course until we're well and truly done. Mary Daly's comments about inflation are being echoed by Atlanta fed president Raphael bostic, who also says rates need to go higher. Meantime, the price of oil is holding steady after OPEC agreed to slash daily output by 2 million barrels, Saudi energy minister prince abdulaziz bin Salman sat down with us in Vienna and said the move does not necessarily mean the market should price in more cuts in the future. We wanted to give the market a clear direction and create input. That's why we extended the agreement to end of 23, but we still have the same tools in our kit, guidance to the market is crucial. Saudi energy minister, prince abdulaziz bin Salman said the U.S. led initiative to slap a price cap on Russian oil is adding uncertainty to the market, checking prices right now, nymex crude oil is up half percent at $88, 16 cents a barrel, Brent is up half percent at $93, 83 cents. Now The White House is expressing frustration with OPEC's move Karen, the Biden administration calls it unnecessary and shortsighted saying the move aligns OPEC with Russia. In response, economic adviser, Brian, these says the U.S. will release 10 million barrels from the strategic petroleum reserve this month. And a couple of notes incorporate news this morning, Nathan starting with Twitter, it turns out billionaire Elon Musk was reportedly pushing to buy the company for a lower price than previously agreed upon. He'll now go through with a deal on its original terms. And Bloomberg news has learned General Electric is cutting jobs, GE will reduce its U.S. onshore wind workforce by 20% to counter mounting losses at its renewable energy unit. S&P futures lower down 15 points a sporting deaf futures down a 103 in NASDAQ futures down 42. Straight ahead your latest local headlines plus a check of sports and this is Bloomberg

Nathan Hager Karen Walsh prince abdulaziz bin Salman Mary Daly David kudla David kula U.S. Raphael bostic OPEC Saudi Bloomberg Biden administration San Francisco
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:07 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"From Bloomberg's European headquarters in London I'm Stephen Carroll with this Bloomberg radio business flash, so equities taking a turn for the positive this morning, we have the MSCI specific indexes 8 tenths of 1% higher than Nico in Tokyo is up by 9 tenths, the Hangzhou in Hong Kong is wavering we can say between positive and negative. It's now down by one tenth of 1%, but it was higher a little bit earlier as well. So hovering around the flat line there and this is as markets are digesting both the news from OPEC and what that cotton production might need for inflation levels, but also the narrative and how it might implement that out of her end central banks who are trying to control inflation. We have comments from Mary Daly from the San Francisco fair and from Raphael basta of the Atlanta fed, both laying out the hawkish line for the Federal Reserve as we look forward to those job numbers coming out of the U.S. on Friday and what influence they might have in an environment of Mary daily describes that have extreme data dependence. So that's the picture in Asia looking ahead towards European trading Euros 50 features are 1.4% higher that would be a positive balance that would take us out of the losses that we saw at the end of the day yesterday that index finished down by just over 1% and on Wall Street S&P E mini features are 6 tenths of 1% higher. The S&P finished down yesterday by two tens. So that would also see us moving back towards positive territory. On the currency markets, we are seeing the Euro strengthen against the dollar before the ECB publishes its September meeting minutes, it's currently four tenths of 1% higher 99 26 is where it's trading, so nudging back towards parasite this has we had seen the Bloomberg dollar spot index weekend against most of its G ten peers. It's down by a third of 1% this morning on the Bloomberg dollar spot index. The Japanese yen's trading just below a 145 yen at the moment the pound trading at one 1362 that's also seeing looks a little bit of strength as it's three tenths of 1% higher. The U.S. ten year treasury yields, the ten year is two basis points lower this morning at three spot 74, the two year basis point lower at four spot 14 as well. And oil prices after that OPEC plus decision yesterday, we are seeing oil prices trading pretty flat this morning, although holding on to the gains that they saw yesterday Brent crude is up slightly at $93 and

Stephen Carroll Bloomberg Raphael basta Atlanta fed Mary daily Mary Daly Hangzhou OPEC Tokyo Hong Kong London Federal Reserve San Francisco U.S. Asia ECB treasury
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:31 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"As we're seeing creates a price cut creates a very, very well precedent. And so we'll primarily hit the ones who are actually doing it and the ones who are implementing it. We know and history has an accomplished number of examples of market interference, especially with the mechanism of price controls. Can only lead to a deficit of a certain good is that this mechanism is unacceptable to Russia. And if it is implemented, we are not going to supply countries which joined this mechanism. Separately, market experts estimate a price cap could curb Russia's oil production by as much as 3 million barrels a day. San Francisco fed president Mary Daly says she sees a high bar for the fed to slow its pace of tightening policy, daily said the fed will remain data dependent between now and its November meeting. She also expressed concern that fed watchers are confusing the Central Bank's eventual slowing of hikes with a pivot. Daily told us market anticipation of rate cuts next year is misplaced. I don't see that happening at all. I see us as raising to a level that we believe is restrictive enough to bring inflation down and then holding it there until we see inflation truly get close to 2%. And demonstrate that price stability is restored. Meantime, Atlanta fed president Raphael bostic echoed daily's comments, bostick says he favors hiking rates to between four and four and a half percent by the end of this year, and he said the fed should then hold it at that level and see how the U.S. economy and prices react. It's about 5 minutes past the hour and our time for a check of global news. And North Korea firing two short-range ballistic missiles towards the EC prisoners got more from the Bloomberg newsroom. Hey, Paul, this launch comes shortly after North Korea condemned the Biden administration for redeploying the USS Ronald Reagan aircraft carrier group to waters east of the Korean Peninsula. Now North Korea was saying this move on the part of the U.S. escalated tensions. It was just days ago the carrier had completed an exercise with the South Korean navy and then trilateral anti sub warfare drills involving Japan, it then left the region, however it was redeployed, but that came after North Korea fired an intermediate range missile over Japan for the first time in 5 years. Russian armed forces have retreated from the front lines in southern Ukraine, the FT reports Russia's acting governor of the kurson region admitted to the retreat after losing significant areas of territory in recent days. It was just last Friday you might remember when Russian president Putin annexed kurson along with three other Ukrainian provinces. By the way, that retreat comes as Russia used suicide drones to strike a Ukrainian military base, the Kyiv regional military administration says 6 explosions were heard overnight in the city about 50 miles south of the Ukrainian capital. Stateside, President Biden toured the scenes of devastation left in Fort Myers Florida by hurricane Ian last week, Biden said we have one job and only one job and that's to make sure the people of Florida get everything they need to fully thoroughly recover. You got to start from scratch at a move again. And it's going to take a lot. A lot of time, not weeks or months, is going

fed North Korea Russia Raphael bostic Mary Daly Bloomberg newsroom Biden administration bostick South Korean navy Central Bank San Francisco kurson U.S. Korean Peninsula EC Atlanta Japan
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:05 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"We're seeing, creates a price cut creates a very well precedent and will primarily hit the rise for actually doing it in the world school implementing it. We know when history has an accomplice number of examples of when market interference, especially with the mechanism of price controls, can only lead to a deficit of a certain good is that this mechanism is unacceptable to Russia. And if it is implemented, we are not going to supply countries which joined this mechanism. Separately, market experts estimate a price cap could curb Russia's oil production by as much as 3 million barrels per day. To those comments by Mary Daly, she sees a high bar for the fed to slow down its pace of hiking interest rates. Daily said the fed would remain data dependent between now and the November meeting. She also expressed concern that fed watchers are confusing the central banks slowing of hikes with a pivot. She told us market anticipation of rate cuts next year is misplaced. I don't see that happening at all. I see us as raising to a level that we believe is restrictive enough to bring inflation down and then holding it there until we see inflation truly get close to 2% and demonstrate that price stability is restored. In the meantime, Atlanta fed president Rafael bostic echo daily's comments. He said that he favors hiking rates to between four and four and a half percent by the end of the year. He said the fed should then hold it at that level and see how the U.S. economy as well as prices react to it. And coming up in a few moments, we'll be chatting with Rebecca Felton, senior market strategist at riverfront investment group. Paul. It was 5 minutes past the hour now before we get to that interview. Time for a shake of global news And North Korea fired two short-range ballistic missiles towards the east sea prisoners got more from the Bloomberg newsroom. Hey Paul, a South Korea's military is

fed Russia Mary Daly Rafael bostic echo daily Rebecca Felton riverfront investment group Atlanta U.S. Paul North Korea east sea Bloomberg newsroom Hey Paul South Korea
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:32 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"Expect about another hundred basis points of hikes this year. And then possibly more next year. Some people are more convinced you're going to get to 4%. So is that sort of the consensus that the data matter, but currently the view is that right now, where we are, where inflation is we have to get to restrictive. And we have to get at least a hundred basis points, if not a 150 or more to get, not just to some kind of near term neutral, but to a restrictive stance that will bring down inflation. Well, let me talk about my own view. I see 3.4, which is what was in the summary of economic projections, which we put out four times a year. That was the June number. That's about right for the end of this year. So another hundred basis points of increase between now and the end of the year. That seems right to me. If you think of the neutral rate of interest is roughly around three, that means we're already in restrictive space by the end of the year. And then I do see us going up more next year, be more restrictive to fully bring inflation down. Another important feature that markets didn't come in with is that I don't see this hump shaped part where we raise interest rates to really high rates and then bring them down. I think of raising them to a level that we know is going to be appropriate and then holding them there for a while so that we can continue to bring inflation down until we're well and truly done until we've restored price stability. Okay, everyone's got their fingers crossed with that one, don't they? Okay, San Francisco fed president Mary Daly will be staying with us. And up next, we'll discuss the inequality of inflation. This is Bloomberg

Mary Daly San Francisco fed Bloomberg
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:39 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"I'm Nathan Hager, U.S. futures are on the rise this morning we're coming up to 6 O one on Wall Street and we check the markets every 15 minutes during the trading day on Bloomberg. S&P futures are up ten points. Dow future is up 68 NASDAQ futures higher by 48 points. The ten year treasury is up 7 30 seconds, the yield 2.79% yield on the two year 3.20, nymex crude is down 8 tenths percent at $88 29 cents a barrel jump. And Nathan we're going to have more on the markets that have been up. But first, let's start in Washington over the weekend. The Senate passing a landmark tax climate and healthcare bill 51 demographics in favor of the measure, 50 Republicans against it with vice president Kamala Harris casting the tie breaking vote. When it comes to what's next in the Bill, we get more from Bloomberg's and Baxter. The top 1% avoided the tax increases liberal Democrats had wanted at the beginning. There will be attacks on stock buybacks, the legislation also aims to prevent large corporations from exploiting tax breaks and there will be a 15% minimum. It did not raise the salt deduction. On the climate side incentives to cut greenhouse gases with the hope to cut emissions by about 40% from 2005 levels by the end of the decade. It will extend the $7500 tax credit on EVs, but they'll be restrictions that U.S. electric carmakers say will exclude 70% of vehicles. And Medicare will be allowed to negotiate drug prices. In San Francisco, I'm Ed Baxter Bloomberg daybreak. All right, thank you on Wall Street today, the fed is in focus after Friday's strong jobs report speculation is growing that another 75 basis point rate hike could be coming. San Francisco fed president Mary Daly tells CBS the Central Bank has a lot of work ahead. We are far from done yet. That's the promise to the American people. We are far from done. We're committed to bringing inflation down and we'll continue to work until that job is fully done. So it would still be appropriate to raise rates in September by half a percent. Absolutely. And we need to be data dependent. Mary Daly made those comments to Margaret Brennan on CBS's face the nation catch the program Sunday afternoons on Bloomberg radio. And Mary Daly and the fed get another key report on inflation this week. That's Wednesday when the government releases the consumer price index for July. Let's get a preview from Bloomberg's Finney down giudice. We may see some moderation as energy prices retreat, economists say the U.S. household inflation rate as tracked by the consumer price index probably slipped below 9% in July. June saw 9.1% jump the fastest since 1981, the bad old days for inflation. Inflation remains far above the Federal Reserve's 2% target in the aftermath of supply shortages and delays. This week stayed on U.S. producer prices and import prices may also moderate many doubts should ice Bloomberg daybreak. Okay, Vinny, thank you. And as we await that report on inflation, the outlook from consumers is turning more gloomy. When you ask most Americans, they say the economy is getting worse. Bloomberg's dug prisoner has the details. A poll from ABC News ipsos found about 69% of those surveyed think the economy is deteriorating. That's the highest since 2008. The poll also finds only 37% saying they approve of how President Biden is handling the recovery. That's unchanged from June, where just three months before the midterm elections, U.S. employment is back to pre-pandemic levels, but inflation is the hottest and decades, and more stubborn than expected. Demand for gasoline in the U.S. is now 9% below last year. In New York I'm Doug prisoner Bloomberg daybreak. Thanks, Doug. Also earnings to watch this week. We get results from nearly two dozen companies in the S&P 500. Let's get more from Bloomberg's Charlie pellet. Traders will continue to parse corporate earnings reports against a backdrop of aggressive rate hikes. Kim Forrest is chief investment officer at bouquet, Capital Partners. Companies are saying they're visibility for the next 6 months is whatever and they're maintaining more or less maintaining their estimates. So I think that speaks well. These companies know their business. They know they can't set the bar too high for themselves. So it's probably kind of low. Among the names reporting this week, Walt Disney, coinbase global AIG Barrett gold and Tyson Foods. In New York, Charlie pellet, Bloomberg daybreak. Thanks, Charlie a dimming earnings outlook is at odds with the recent rebound in stock markets. That's according to strategists at Morgan Stanley and Goldman Sachs. Both Morgan Stanley's Mike Wilson and Goldman David coston expect corporate profit margins to contract next year given unrelenting cost pressures. In fact, Wilson says quote, the best part of the rally is over. Warren Buffett is following an age old strategy by the dip, but do it cautiously. Buffett's Berkshire Hathaway stepping in as the S&P 500 shed 16% at the latest quarter. It was a net buyer of equities, reporting $3.8 billion in purchases. That's a different story than last year when it was a net seller in the second quarter of 2021. No, there's a surprise change at the top of private equity giant Carlyle group John CEO Q song Lee has stepped down, Lee's 5 year employment contract was due to expire at the end of this year. Bloomberg news has learned Lee and Carlyle's board had clashed over his contract in recent discussions, the firm's cofounder Bill Conway will step in as interim CEO. And a major development on the pandemic front in Hong Kong, that city is going to shorten hotel quarantine times for rivals starting Friday. Bloomberg daybreak Asia anchor Bryant Curtis has more from Hong Kong. People will only need to spend three days in quarantine now down from 7

Bloomberg Mary Daly Nathan Hager U.S. Ed Baxter fed Margaret Brennan Kamala Harris Charlie pellet CBS
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:33 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"The markets every 15 minutes during the trading day on Bloomberg. S&P futures are up ten points right now, Dow futures up 58 so our NASDAQ futures, the ten year treasury is up 9 30 seconds the yield 2.79% yield on the two year 3.19%. Nymex screwed down 7 tenths percent or 64 cents at $88, 33 cents a barrel. We'll have more on the markets in a minute. First, we start in Washington. Over the weekend, the Senate passed a landmark tax climate and healthcare bill. 51 Democrats voted in favor of the measure, 50 Republicans against it, vice president Kamala Harris, casting the tie breaking vote. When it comes to what's in the Bill, we get more from Bloomberg's Ed Baxter. The top 1% avoided the tax increases liberal Democrats had wanted at the beginning. There will be attacks on stock buybacks, the legislation also aims to prevent large corporations from exploiting tax breaks and there will be a 15% minimum. It did not raise the salt deduction. On the climate side incentives to cut greenhouse gases with the hope to cut emissions by about 40% from 2005 levels by the end of the decade. It will extend the $7500 tax credit on EVs, but they'll be restrictions that U.S. electric carmakers say will exclude 70% of vehicles. And Medicare will be allowed to negotiate drug prices. In San Francisco, I met Baxter Bloomberg daybreak. All right, Ed, thank you on Wall Street. Today, the fed is in focus after Friday's strong jobs report speculation is growing than another 75 basis point rate hike could be coming. San Francisco fed president Mary Daly tells CBS the Central Bank has a lot of work ahead. We are far from done yet. That's the promise to the American people. We are far from done. We're committed to bringing inflation down and we'll continue to work until that job is fully done. So it would still be appropriate to raise rates in September by half a percent. Absolutely. And we need to be data dependent. Mary Daly made those comments to Margaret Brennan on CBS's face the nation, catch the program Sunday afternoons on Bloomberg radio. Mary Daly and the fed get another key report on inflation this Wednesday. That's when the government releases the consumer price index for the month of July. I was going to preview from Bloomberg's Vinny del giudice. We may see some moderation as energy prices retreat. Economists say the U.S. household inflation rate as tracked by the consumer price index probably slipped below 9% in July. June saw a 9.1% jump the fastest since 1981, the bad old days for inflation. Inflation remains far above the Federal Reserve's 2% target in the aftermath of supply shortages and delays. This week's data on U.S. producer prices and import prices may also moderate any doubt judai Bloomberg daybreak. Okay, Vinny, thank you, desi, wait that report on inflation, the outlook from consumers is turning more gloomy. When you ask most Americans, they say the economy is getting worse and Bloomberg StuG prisoner has the details. A poll from ABC News ipsos found about 69% of those surveyed think the economy is deteriorating. That's the highest since 2008. The poll also finds only 37% saying they approve of how President Biden is handling the recovery. That's unchanged from June, where just three months before the midterm elections, U.S. employment is back to pre-pandemic levels, but inflation is the hottest and decades, and more stubborn than expected. Demand for gasoline in the U.S. is now 9% below last year. In New York I'm Doug prisoner Bloomberg daybreak. All right, thanks, Doug. Also earnings to watch this week. We get results from nearly two dozen companies in the S&P 500. Let's get more from Bloomberg's Charlie pellet. Traders will continue to parse corporate earnings reports against a backdrop of aggressive rate hikes. Kim Forrest is chief investment officer at bouquet, Capital Partners. Companies are saying they're visibility for the next 6 months is whatever, and they're maintaining more or less maintaining their estimates. So I think that speaks well. These companies know their business. They know they can't set the bar too high for themselves. So it's probably kind of low. Among the names reporting this week, Walt Disney, coinbase global AIG Barrett gold and Tyson Foods. In New York, Charlie pellet, Bloomberg daybreak. All right, Charlie. Thank you. Dimming earnings outlook is at odds with the recent rebound in stock markets. That's according to strategists at Morgan Stanley and Goldman Sachs. Both Morgan's Mike Wilson and Goldman's David cost expect corporate profit margins to contract next year given unrelenting cost pressures. In fact, Wilson says, quote, the best part of the rally is over. Warren Buffett following an age old strategy by the dip, but do it cautiously. Buffett's Berkshire Hathaway stepped in as the S&P 500 shed 16% in the latest quarter. It was an empire of equities reporting $3.8 billion in purchases. That's a different story than last year when it was an ant cellar in the second quarter of 2021. A surprise change John at the top of private equity giant Carlyle group, the CEO, Q song Lee, has stepped down. Lee's 5 year employment contract was due to expire at the end of this year, Bloomberg news has learned Lee and Carlyle's board had clashed over his contract in recent discussions. The firm's cofounder Bill Conway will step in as interim CEO. And looking overseas now, we have a major development of the pandemic front in Hong Kong. The city will shorten hotel quarantine times for arrivals starting on Friday. Bloomberg daybreak Asia anchor Brian Curtis has more from Hong Kong. People will only need to spend three days in quarantine now down from 7

Bloomberg Mary Daly Ed Baxter Baxter Bloomberg U.S. fed Margaret Brennan Kamala Harris Charlie pellet
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:20 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"It is 9 3 a.m. in Hong Kong and here in Singapore, I'm Juliet Sully. And I'm Doug Krishna at the Bloomberg interactive broker studio in New York. We've got trading underway on the Chinese mainland and in Hong Kong as well. Some positivity in markets with the exception of Australia, where the ASX 200 is down about 7 tenths of 1%. Some weakness in U.S. stocks and that may be the case tomorrow, but we'll have to wait and see, I guess, in the moment we'll update a few of the sours top business stories ahead of a look at market action. All right, well, several fed officials Doug saying they want proof showing inflation is on a sustainable downward path before declaring victory in their fight against it. San Francisco fed president Mary Daly says the fed has a long way to go on reaching prosta ability around a 2% inflation target, and the head of the Cleveland fed Loretta mester, told The Washington Post she wants to see very compelling evidence of moderation in month to month price increases. Mister said the fed is committed to lowering inflation because it's a foundational piece of a healthy economy. We don't talk about recession per se, it's are we growing below or above trend. And, you know, my forecast for this year is that we'll be growing below trend, but that's necessary in order to get price increases inflation under control. We also heard from Chicago fed president Charles Evans, he said he's hopeful the fed can downshift to half point rate hikes next month. St. Louis fed president Jim bullard added that the fed may be able to slow inflation without sparking a recession in the U.S. economy and the fed next meets on September 20th. Well, House speaker Nancy Pelosi's trip to Taiwan has certainly rattled politics and even the EV market. China's contemporary amperex technology limited or cattle is delaying an announcement on its new multi-billion dollar battery plant in North America. Here is Bloomberg's head ludlow. According to sources, they were very close. They were negotiating incentives. They were due to make a decision. And because of Nancy Pelosi's visits to Taiwan, sources tell us that they've decided to push this back to September or October and what sources are saying is that they just don't want to stoke geopolitical tensions between the U.S. and China in going ahead and announcing a North American investment at this time. That is Bloomberg's had ludlow. By the way, cattle is the world's largest maker of batteries for electric vehicles, customers include Tesla and Ford, now cattle has been considering at least two locations in Mexico near the border with Texas as well as sites here in the states. Well, Starbucks reported sales of $8.2 billion the results topping expectations, and illustrating steady consumer spending, transactions fill 3%, but higher prices are making up for a lower volume of sales, although China a key market for Starbucks remains a source of uncertainty, pandemic rules have restricted mobility and major cities and comparable sales in the country tumbled 44% during the past quarter. The chain actually only recently began reopening dining rooms across Shanghai. 33 pounds the hour will cross to Hong Kong Brian Curtis there looking at markets. So we had a lot of earnings news after the bell. I think it's fair to say some of those results were a little bit of mix. That's why I indicated that it's the picture for the American market tomorrow is not really that clear. But before we get there, what are you seeing in Asia? Right, well, we're seeing mixed trading, but it seems like it's tilting a little bit more to the upside, particularly some strong recovery in Hong Kong, the Han seg tech index is up 2.6% there. And among stocks that are included in the hang seng index, you've got some gainers like JD.com and Alibaba up about, well, Alibaba is up nearly 5%, JD.com recovering about three and a third percent. They were hit pretty hard yesterday. We had a big sell off in tech shares in Hong Kong yesterday. Hank sang index is up 1.2% and the Taiwan market has turned down now. It had been trading a little bit higher this morning. The Thai X is now down about four tenths of 1%. Singapore is off a tenth of a percent. In China itself, the CSI 300 is up 1%. So relief may be the story today, but there's not a lot of traction. We see the ASX 200 trading down about a half of 1% and the nikkei is trading up about 6 tenths of a percent and one of the market in Seoul. The Cosby has advanced by four tenths of a percent. On the political side, China halted natural sand exports to Taiwan and some fish and fruit from the island, and that's following the trip by Nancy Pelosi to Taiwan. We'll be covering that. We'll also be carrying her news conference live here on Bloomberg radio a little bit later this morning. Australia's services PMI for July was 50.9 that was stronger than the 50.4 last month or in June, and the jib one July, Japan services PMI came in at 50.3. We've seen yields steady a little bit the yield on the ten year treasury 2.71% of down three basis points after a huge rise in the U.S. session. The two year yield now is at 3.04% down one basis point. Oil has been we call morning 94 20 a barrel and gold is softened to down 7 tenths of a percent, $1777 a Troy ounce. Juliet back to you. Thanks, Brian. 35 minutes past the hour time for global

fed Hong Kong Juliet Sully Doug Krishna Bloomberg interactive broker s Cleveland fed Loretta mester Taiwan St. Louis fed Jim bullard House speaker Nancy Pelosi U.S. China Mary Daly Bloomberg Charles Evans
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:47 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"So in these markets at Tom we're down by close to 1% for European equities first to down day in four following the tech route on Wall Street that declines that we saw overnight in Asia, the latest data on Spanish inflation showed a big surge, Morgan Stanley sees Euro area recession in the fourth quarter so lots of worries, a U.S. stock futures also sinking now after we saw the NASDAQ pull back 3% yesterday as stock futures on the NASDAQ also just about in the red. As for bond yields, U.S. yields at three 15 on the ten year down couple of basis points, Germany has also dropping four basis points at 1.59% Italian BTPs. So in focus, with all the worries of our fragmentation 3.5% so down, 6 basis points, a slightly stronger dollar this morning and oil prices are just about level $118 for bank food. Okay, let's get to some of the top stories of the day then Spanish inflation has unexpectedly surged to a record rate of 10%. The sharp rise in prices will increase pressure on the ECB to go further and faster as the bank gears up to raise interest rates for the first time in more than a decade. Governing council member Jen dimas simkus now says interest rates could need to rise by 50 basis points next month if the inflation outlook deteriorates. Simkus joined his ECB colleague Martin's kazakhs in arguing that record inflation must be fought quote decisively, speaking to us on daybreak, Europe Bloomberg's Alonso Soto explained what's driving the price spike in Spain. I think behind the what we have from these statistics office is fuel prices, food and hotel and beverages. So it was more widespread than people thought. In the past, it was mostly located in electricity. And now we're seeing that this is spreading out with rest of the economy. Bloomberg's Alonzo Soto there, who said today's numbers are a real issue for the Eurozone, the inflation rate is up from 8.5% in May and exceeded all 15 estimates in a Bloomberg survey of economists. Well, the gloomy economic outlook is, of course, weighing on global stock markets as monetary policy Titans in much of the world on Tuesday the tech heavy NASDAQ shared more than 3% and the S&P 500 fell. The San Francisco fed to president Mary Daly says she expects lower growth, but no recession in the U.S. in the near term. Why wouldn't be surprised? And it's actually in my forecast that growth will slip below 2%. But you won't actually pivot down into negative territory. Mary Daly, the San Francisco fed person speaking their at an event hosted by LinkedIn news, the risk of an American recession was overshadowed effectively China's surprise move to reduce quarantine times for inbound travelers. At the ECB forum in sintra, president Christine Lagarde says the bank will activate the bond purchasing firepower, its earmarked as a first line of defense in a crisis on Friday. The world's largest asset manager BlackRock is betting on the success of the anti crisis tool, strategist Marin Watson expects the gap between Italian and German ten year bond yields to shrink, Bloomberg's francine LaCroix reports from cintra. In her opening address to the conference in sintra, the ECB president cassin la garde set out her views on three issues. The nature of the Eurozone's inflation shock, how monetary policy ought to respond, and what to do to preserve transmission of the Central Bank's monetary policy. Now, today, day two, the focus shifts to the broader economy, participants, including fed governors will discuss the global supply chain pressures, international trade, and inflation. No matter where you're sitting in the world, inflation is your number one concern. And Mark is one to know what's the economic price that central bankers are willing to pay to make sure inflation is under

ECB Jen dimas simkus Simkus Alonso Soto U.S. Bloomberg Alonzo Soto Mary Daly Morgan Stanley San Francisco fed Governing council Asia
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:09 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"We are seeing the European share markets open up for trading at the start of this Wednesday and his futures have predicted it is a negative start to European share trading in the stock 600 down by 8 tenths of 1%, the FTSE 100, down by 8 tenths of 1%, the cat in Paris down by 1% in the FTSE mib in Milan down by 1.1% at the start of trading this after that route we had on tech shares in Wall Street yesterday feeding into the falls that we've seen in Asia as well a negative lead from Asia bringing us into this position at the start of European trading where stocks are opening in negative territory, looking across the groups on the SNP excuse me on the stock 600 we are seeing falls across many of the major share groups and will have more on those details in just a moment across other markets. We are seeing oil prices easing today as well down two thirds of 1% on WTI after a $111. And Chris, just some breaking news here as well Steven, we are looking at Spanish inflation, unexpectedly soaring to 10%. That's, of course, as up from 8.5% in May. Now on to some of our other top stories this morning. The gloomy economic outlook is weighing on the global stock market as monetary policy Titans in much of the world. Now on Tuesday, the tech heavy NASDAQ shed over 3% and the S&P 500 fell. The San Francisco Federal Reserve president Mary Daly says she expects lower growth but no recession in the U.S. in the near term. Now, we're moving on to the ECB forum in centra president Christine de guard saying the bank will activate the bong purchasing firepower its earmarked as a first line of defense in a crisis on Friday. The world's largest asset manager BlackRock is betting on the success of the anti crisis tool, strategist Marilyn Watson expects the gap between Italian and German ten year bond yields to sink. Bloomberg's francine LaCroix reports from cintra. In her opening address to the conference in sintra, the ECB president cassin Lagarde set out her views on three issues. The nature of the Eurozone's inflation shock, how monterrey policy ought to respond and what to do to preserve transmission of the Central Bank's monetary policy. Now, today, day two, the focus shifts to the broader economy, participants, including fed governors will discuss a global supply chain pressures, international trade, and inflation. No matter where you're sitting in the world, inflation is your number one concern. And Mark is one to know what's the economic price that central bankers are willing to pay to make sure inflation is under control. In sintra and Francis LaCroix, Bloomberg daybreak Europe. 2 o'clock London time this afternoon, francine will be chairing a special panel with the ECB president Christine Lagarde Bank of England governor Andrew Bailey and Federal Reserve chair Jerome Powell that will be live on Bloomberg television and radio. The NATO alliance faces its biggest challenge since World War II and Russia poses a direct threat to the bloc security. That's according to Jens Stoltenberg, general secretary of NATO, who has been speaking at the start of this week's leader summit. His comments come after turkey dropped its opposition to Sweden and Finland's membership of the defense alliance, speaking before the news broke, President Biden says the block's aims have never been clearer. Today, NATO is united

San Francisco Federal Reserve Asia ECB Christine de Marilyn Watson francine LaCroix cintra cassin Lagarde Mary Daly sintra Milan centra Paris Titans
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:00 min | 1 year ago

"mary daly" Discussed on Bloomberg Radio New York

"A look at the markets. We are seeing tech shares in Asia continuing to sell off we saw on Wall Street the hang seng tech index down by 3.1% the overall hang seng index down by 1.8% European stock futures are negative heading into the opening of trading in an hour's time Euro stocks, 50 features down by 7 tenths of 1% of similar move for FTSE 100 futures, but Wall Street futures have turned positive, the S&P IMES are up by one tenth of 1%. We are seeing ten year treasury yields, easing as well down four basis points to three spots 13, and oil prices are slightly softer this morning, WTI, down half a percent at a $111 and 19 cents. Okay, those are the markets onto our top stories, the gloomy economic outlook is weighing on global stock markets as monetary policy Titans in much of the world on Tuesday the tech heavy NASDAQ as you heard shed over 3% and the S&P 500 fell, the San Francisco Federal Reserve president Mary Daly says that she expects lower growth but no recession in the U.S. in the near term. Why wouldn't be surprised? And it's actually in my forecast that growth will slip below 2%. But you won't actually pivot down into negative territory. Mary Daly, San Francisco fed present speaking their at an event hosted by LinkedIn news. Now the risk of an American recession overshadowed China's surprise move to reduce quarantine times for inbound travelers. At the ECB forum and center president Christine Lagarde says the bank will activate the bond purchasing firepower its earmarked as a first line of defense in a crisis on Friday. The world's biggest asset manager BlackRock is batting on the success of the anti crisis tool, strategist Marlon Watson expects the gap between Italian and German ten year bond yields to shrink Bloomberg's francine LaCroix is at the conference. In her opening address to the conference in sintra, the ECB president cassin Lagarde set out her views on three issues. The nature of the year zone's inflation shock, how monetary policy ought to respond, and what to do to preserve transmission of the Central Bank's monetary policy. Now, today, day two, the focus shifts to the broader economy. Participants, including Fred governors, will discuss the global supply chain pressures, international trade, and inflation. No matter where you're sitting in the world, inflation is your number one concern. And Mark is one to know what's the economic price that central bankers are willing to pay to make sure inflation is under control. In sintra and Francis LaCroix, Bloomberg daybreak, Europe. Now at 2 o'clock this afternoon, UK time francine will be chairing a very special panel with the ECB president Christine Lagarde Bank of England governor Andrew Bailey and the Federal Reserve chair Jerome Powell, that'll be live on Bloomberg television and radio. Well, elsewhere in Europe a summit of NATO leaders has kicked off with a major breakthrough turkey has dropped its opposition to Sweden and Finland's membership of the defense alliance, speaking before the news broke President Biden said the block's aims have never been clearer. Today, NATO is united. And as

Mary Daly San Francisco Federal Reserve ECB Marlon Watson Christine Lagarde francine LaCroix cassin Lagarde sintra Titans Asia BlackRock LinkedIn Bloomberg
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:13 min | 2 years ago

"mary daly" Discussed on Bloomberg Radio New York

"Others injured after an early morning bar shooting in St. Paul Minnesota Police spokesman Steve linder says the shooting happened at a bar on west 7th street shortly after midnight authorities believed several shooters were involved No arrests are reported He says the investigation is in its early stages This too soon for us to speculate on that We're still working out the details and trying to figure out what happened But we will figure it out A woman in her 20s was pronounced dead at the scene Facebook vice president Nick cleg says the company is doing research to make their products better for mental health but they can't change how humans think speaking on CNN State of the Union clay said the company is working on multiple things that make Facebook and Instagram a better place for a teens mental health A GOP candidate for governor of Texas is being treated for COVID-19 Alan west tweeted that he may go to the hospital after receiving an x-ray that showed he has pneumonia caused by COVID the former Republican congressman has not been vaccinated against coronavirus I'm Brad Siegel And I'm Denise Pellegrini in the Bloomberg newsroom The head of the San Francisco Federal Reserve says the U.S. labor market will see ups and downs as the pandemic lingers Mary Daly says COVID is not yet behind us It's too soon to say it's stalling but certainly we're seeing the pain of COVID and the pain of the delta variant impact the labor market And daily speaking on CBS face the nation heard here on Bloomberg radio Her comments come as the Federal Reserve is scaling back massive stimulus even though job growth in September was weaker than expected Daily hints what others are saying that inflation concerns may be temporary It's related to the supply bottlenecks to the disruptions that we can't get in the global economy people fully back to work We can't do the U.S. get people fully back to work We have these really anxious to get out there and spend consumers hitting the wall of supply constraints The prices are going to rise And we'll be getting a fresh read on consumer prices on Wednesday Congress last week and the Nick of time passing that extension that effectively moved the debt ceiling question down the field to December 3rd And treasury secretary Janet Yellen weighing in all this today She says the U.S. needs to take care of the issue quickly before that December deadline We have to reassure the world that the United States is fiscally responsible and that they can count on us to pay our bills And that's Congress's job.

COVID St. Paul Minnesota Police Steve linder Nick cleg Union clay Alan west Brad Siegel Denise Pellegrini San Francisco Federal Reserve Facebook Bloomberg radio Mary Daly CNN pneumonia GOP U.S. Bloomberg Texas CBS Federal Reserve
"mary daly" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:57 min | 3 years ago

"mary daly" Discussed on Bloomberg Radio New York

"Required. Yeah, There isn't really much more they can do. I think she didn't embrace my phraseology. But basically, I asked her. Do you just stand pat for the rest of the year? And I think that's where the Fed is going to be. If they kind of be worsens, they could doom or QE. They can't really go too negative rates. Okay for our TV audience, and I'll tell our radio is we were just watches the rocket from Blue origin landing back outside in the desert in Texas. With that's the Rockets launched the capsule now into space, at least near space. 60 miles above the Earth is a test flight of the capsule, which was designed to carry six people that this does not have any people on it. So Mike to come back to you for a moment at the same time. Is there any concern about inflation? I keep hearing little rumblings that at some point we may need to worry about inflation again, even though we haven't seen it by any means so far. Well, Mary Daly said today that she expects inflation and we've seen commodity prices rising. We've seen things like the I assume reports show higher prices paid at such a, but she doesn't think it's going to get significantly above 2%. Maybe we get some spikes towards the end of this year, she said, but not on a sustained basis, and the Fed isn't going to react. Until we're seeing inflation on a sustained basis above 2%, and some people are suggesting we won't have a good picture of that until the end of 2022, so they're not going to be too worried about it Right now. It's especially we have. We have had a negative real rate that record actually, above 1% or so is that part of the Fed policy at this point It's always the feds strategies you want to create a negative real rate to incent businesses to invest. The issue at this point is not so much to find more investment because there's no reason to invest with the economy is slow is it is What they're hoping is that things don't get worse. They don't tighten credit and we see business is pulled back from spending more than they already have. And then to have that stimulus in place when companies are able to start building up again Now we've seen it in the manufacturing industry. They've been going full guns for quite some time. And that's because demand and for manufactured goods has risen is we went through the early part of the pandemic and inventories got pretty much wiped out. So if the rest of that that translates to the rest of the economy than the federal be happy, and that'll be the point of having these negative rates, so this is not the point a finger of blame at all at the Fed, But somebody from the outside might say the one thing the feds proved it could do is get asset prices up. As we see the stock market's up again today, all the exchanges air up, we're setting records, records records. The same time. The tens of millions of people who don't have jobs that used to have jobs and the growth rate is really not doing well and put aside the question of income inequality, which you also talk to Mary Daly about Yeah. I mean, that's the whole case shaped recovery story that those who have asset income are doing much much better than those who have wage income. And there isn't much the Fed can do about that. They're well aware of the fact that they're QE purchases are Contributing to the rise in stocks. They argue at this point, they don't think it's a bubble, but they are keeping an eye on it. But this comes back to what you first asked me about the jobless claims numbers. 965,000 and enormously blast last week, and it just goes to show that the people are still in need of assistance and Bad news is good news for the markets because it means the Fed's going to keep pumping that money in and now we're gonna hear from Joe Biden and he's going to add a lot of fiscal support as well. And a lot of that will end up in the markets. Well, let's talk about the physical sport for a moment, As we said at 7 15 tonight, Eastern time we're going to get that plan. A ZAY heard Mary Daly and correct me if I'm wrong. She didn't want to say how much, but she was willing to suggest what she thought it might go for. Yeah, We do know that the Biden administration is planning to do that. The checks. Everybody uses the term $2000. Well, people got 600 already so they'd be $1400 checks, and that's going to be the big takeaway. It's money in people's pockets that they can spend. The issue is going to be how much of it do they save, but then also money for states and cities. And this is going to be sort of the story of the dog that didn't bark if the states and cities get this money in time. Then they won't be laying off thousands of more employees because tax revenues are way down. And that's important. And then, of course, a lot of additional money for vaccines for distribution of vaccines. Get the program's up and running in the states. We've run into this last mile problem where you get vaccines, and they're not set up to get them out to the people. That'll help a lot and, of course, as Mary Daly said, and everybody at the Fed says it's the vaccine. It's the it's the virus that is determining the path of the economy now, so the sooner we get people healthy, The sooner we get people inoculated, the better off the economy is going to be Bring everybody up to speed. We're waiting right now. For Fetcher. Jay.

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Dow plunges 600 points as Apple leads tech rout

Bloomberg Best

00:47 sec | 5 years ago

Dow plunges 600 points as Apple leads tech rout

"Apple and the tax led a Monday retreat on Wall Street. Don indications demand for iphones may be softening. The Dow Jones industrials fell six hundred two points or two point three percent. Twenty five thousand three eighty seven the NASDAQ closed two hundred six points or two point eight percent, lower the S and P five hundred lost fifty five points or two percent. Jeff kleintop of Charles Schwab tells Bloomberg some of the market's weakness can be traced to global monetary policy. None of the major. Central banks are looking to implement stimulus next year everywhere around the world. This slowdown is becoming further entrenched. And that means the market becomes more vulnerable. The president of the Federal Reserve Bank of San Francisco season interest rate hike next month. And Mary Daly told Bloomberg she would not be surprised if at least to rate hikes were needed in two thousand

Bloomberg Mary Daly Federal Reserve Bank Apple Charles Schwab Jeff Kleintop San Francisco President Trump Eight Percent Three Percent Two Percent
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Bloomberg Opinion

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Florence continues to cause flooding

"Number one. Alabama is an old miss sixth-ranked, Wisconsin hosts BYU and number twenty two USC heads to Darrell k Royal stadium in Austin. The take on the Texas longhorns. I'm TJ teeny. For the first time, an openly gay woman will lead the Federal Reserve Bank. Fifty five year old Mary Daly will take the helm of the Federal Reserve of San Francisco on October first she replaces John Williams who left to head the New York fed daily's edition brings the total number of female presidents to three at twelve fed regional

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Mary Daly, labor expert, picked to run San Francisco Fed

Dr. Drew

00:22 sec | 5 years ago

Mary Daly, labor expert, picked to run San Francisco Fed

"Francisco. A Cumulus station. Now on Amazon, Alexa, open the cagey. Oh, eight ten skill. Good afternoon. I'm Nikki medoro. Some correctional facilities in South Carolina are not evacuating their inmates despite lying and mandatory evacuation zones while potentially leaving inmates exposed to a variety of risks. The communications director says when confronted with large storms quote

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