Today's topics include 10-year yields above 4%, Fed officials preach patience & balanced approach, John Williams sees path to soft landing, still waiting for details on Chinese stimulus, bull markets don't die of old age, the economic reality of tariffs, previewing big bank earnings, the pace of the gold rally, and the case for the dollar
On Friday, Jim participated in a bond market debate with David Rosenberg, moderated by Bill Fleckenstein. They discussed the proper level for interest rates, among other topics.
Today's topics include the market's reaction to the payrolls report, measuring post-election volatility, recalibrating rate cut hopes, U.S. vs. European savings rates, a note on the Sahm Rule, insiders have their doubts on stocks, housing supply & demand in the South, previewing earnings season, and credit card rates on the rise
Jim Bianco joins CNBC to discuss this morning's Jobs Report, Fed Rate Cut Size & the Bond Market with Rick Santelli.
Nonfarm payrolls grew by 254k jobs, beating even the highest Wall Street estimates. Previous months' data was revised upwards. The unemployment rate was a rounding error away from being 4.0% despite estimates of 4.2%. Average hourly earnings came in above estimates. One month does not make a trend, but the case for aggressive rate cuts looks much less compelling after today's data.
Today's topics include keeping an eye on QT & liquidity in funding markets, money markets reach another record, is the jobs survey no longer accurate enough to be useful?, the cost of food, dockworkers reach partial deal while hammering out automation terms, digging into retail sales heading into holiday season, how far can China's stock market go?, looking for data to suggest recession is becoming more like 'where's Waldo', anticipating volatility, and BoJ has measured stance to next rate hike
The U.S. Department of Housing & Urban Development labels almost half of all renters as either "cost-burdened" or "severely cost-burdened" in paying for shelter.
The risks to inflation are becoming more balanced according to Fed officials. There is also less uncertainty surrounding officials' projections.
28% of developed market sovereign debt now yields more than 4%.