Latest news with #JohnAuthers'
Bloomberg
23-05-2025
- Business
- Bloomberg
Follow the Mango, Not the Money
To get John Authers' newsletter delivered directly to your inbox, sign up here. Whatever happens, the global shipping lanes will still be active. Trade must continue. To use US Commerce Secretary Howard Lutnick's favorite analogy, the US can never produce its own mangoes; it will keep importing them, and shouldn't slap on tariffs that would only make them more expensive for Americans. Lutnick isn't the only one with a financial mango analogy. The British novelist John Lanchester, who became an avid student of economics during the Global Financial Crisis, has used them to denounce contemporary financialized capitalism. He offers this example of a farmer who will soon harvest his fruit:
Bloomberg
20-05-2025
- Business
- Bloomberg
Markets Snap Back, But Moody's Was On to Something
To get John Authers' newsletter delivered directly to your inbox, sign up here. Blink and you missed it. The historic downgrade of US sovereign debt announced Friday night only momentarily interrupted momentum. The S&P 500 rose 0.09% for its sixth consecutive daily gain, while bonds had a good day despite Moody's negative judgment. After an initial selloff, the 10-year Treasury yield closed the day at 4.44%, 3.2 basis points lower for the day.
Bloomberg
15-05-2025
- Politics
- Bloomberg
‘Beautiful' Is In the Eye of the Bond Vigilantes
To get John Authers' newsletter delivered directly to your inbox, sign up here. Donald Trump has a way with words. Nobody can possibly take this away from him. After six weeks dominated by a Liberation Day that was anything but, the debate has moved to the president's promise of a Big, Beautiful Bill that is certainly big, but not very beautiful.
Bloomberg
01-05-2025
- Business
- Bloomberg
Liberated But Not Yet Free
To get John Authers' newsletter delivered directly to your inbox, sign up here. It looks as though the markets have finally achieved liberation from April 2's Liberation Day. Measures of risk appetite (the Bloomberg Financial Conditions index) and perceived risk in the credit market (proxied by the option-adjusted spread on Bloomberg's US high-yield index) are both almost back where they were before President Donald Trump began his presentation in the rose garden:
Bloomberg
29-04-2025
- Business
- Bloomberg
Only in America — 100 Days of the Anti-Reagan
To get John Authers' newsletter delivered directly to your inbox, sign up here. Donald Trump has reached his 100th day in office, the landmark at which all presidents since FDR have been gauged, and the dollar already has a strong verdict. The DXY dollar index, against a basket of other developed market currencies, has given up almost 10%. This is by some way a record in the five decades since Richard Nixon unpegged the dollar from gold in 1971. Trump 2.0 has now become a mirroring outlier for Ronald Reagan 's first 100 days, when the index rose by 10%:
