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September 10, 2024
Jim Bianco joins Bloomberg to discuss Bullishness in the Bond Market, Measuring the Labor Market/Economy, New Inflation Rate with Jonathan Ferro, Lisa Abramowicz & Annmarie Hordern.
Today's topics include the 25 vs. 50 debate rolls on, the Fed is late to the rate-cutting party, asset classes telling different economic story, stock market seasonality, pricing uncertainty surrounding the U.S. election, housing affordability, Chinese deflation, record corporate issuance, an eye on port strikes, and Bitcoin ETF outflows
The jobs report missed estimates slightly. Downward revisions to the past couple months were more substantial. However, wage growth ticked higher. Traders did not see the data as bad enough to definitively dictate a 50 basis point rate cut at the September FOMC meeting.
Today's topics include perspective on the sizing of September's rate cut, paying attention to volatility, Fedspeak, more new debt issues, the state of globalization, commodity demand, issues in China seem hard to resolve, more on China's desire to control markets & investment, office commercial real estate issues are not over, and Cliff Asness on market efficiency & social media
Developed-market central banks were not going to wait for the Federal Reserve before they started cutting interest rates themselves.
How do yields react to rate cuts? It depends on the state of the economy and inflation.
The costs associated with filling natural gas storages in Europe this year are much closer to the years prior to Russia's invasion of Ukraine than the costs seen during the past couple years.
The race is too close to call in this installment, with Trump trending slightly better. The debate is Tuesday, September 10, which could significantly change candidates' odds in the coming days.
We have often argued the biggest economic event of our lifetime was the shutdown and restart of the global economy in 2020. We check in on mobility in the United States.