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Bloomberg
3 days ago
- Business
- Bloomberg
Stocks Will Rally Despite Extended Dollar Declines, MLIV Pulse Survey Finds
US equities will put the worst of this year's trade-war turmoil behind them and rally to fresh highs in 2025, according to a survey of Bloomberg subscribers who attended a panel discussion on macro trends. The S&P 500 will climb to 6,500 — a better than 9% increase from Thursday's close — by year-end, according to 44% of the 27 responses in a Markets Live Pulse survey. The index was seen reaching that level by the first half of next year by 26% of participants, with 11% saying it would happen in the second half and the remainder estimating 2027 or later.
Yahoo
28-05-2025
- Business
- Yahoo
US Treasuries Pare Losses as Investors Snap Up Five-Year Notes
(Bloomberg) -- US Treasuries trimmed early losses after a $70 billion auction of new five-year securities lured solid investor demand. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight The yield on 10-year benchmark Treasuries was up about three basis points following Wednesday's sale, after earlier climbing more than five basis points. The shift came as the US government's offering of five-year notes drew a yield of about 4.071%, slightly below the level seen immediately before the auction. Indirect bidders, a category of investors that includes foreign central banks, took down a record 78% of the debt. 'It looks like a solid auction,' said Zachary Griffiths, head of investment-grade and macroeconomic strategy at CreditSights Inc. Despite the recent concern about foreign demand for US debt, 'it does not appear there has been a mass exodus.' The five-year auction spotlights a maturity that's become a sweet spot for many investors because it's less sensitive to monetary and fiscal policies than its shorter- and longer-dated peers. It follows solid demand for a two-year auction on Tuesday and comes ahead of Thursday's $44 billion sale of seven-year notes. What Bloomberg strategists say... 'The amount of indirect bids submitted was also the highest ever, by a slight margin. (Perhaps Taiwan's central bank got involved after its recent 'smoothing' operations?) While directs and dealers took a correspondingly low amount of this sale, it's hard to call it anything but solid given indirect demand and the award rate. There was little evidence of a Treasury buyers' strike at this sale, at least.' — Cameron Crise, strategist on Bloomberg's Markets Live blog Still, that appetite has yet to clearly extend to longer-term debt, which has been dragging after a string of weaker auctions around the globe. A 40-year auction sale in Japan met the weakest demand since July. Bonds that mature over a longer horizon have been hit as investors grow concerned about widening fiscal deficits in some of the world's big economies, including the US. 'It's hard to argue with the concern over the fiscal policy,' said James Athey, a portfolio manager at Marlborough Investment Management Ltd. 'We are likely to oscillate fairly significantly just given the extent of uncertainty and the inflation risks which are still ahead.' Last week, the US 30-year yield touched 5.15%, its highest since October 2023. The gap between five and 30-year yields has risen above 90 basis points, around its highest since 2021. On Wednesday, the 30-year yield was higher by about three basis points to 4.98%. The question for some on Wall Street now centers on when those lofty yields start to entice some buyers. In the futures market, a block trade targeting a narrower yield gap between 10- and 30-year bonds stood out. 'Bonds actually look attractive now from a yield perspective,' said Justin Onuekwusi, chief investment officer at St James Place. He added that he expected continued volatility, citing President Donald Trump's tax bill, trade tariffs and political uncertainty. --With assistance from Sujata Rao and James Hirai. (Updates with results from Treasury auction, market moves and comments.) Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Why Apple Still Hasn't Cracked AI YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Inside the First Stargate AI Data Center ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27-03-2025
- Automotive
- Bloomberg
Trump Auto Tariffs Spur Market & Political Response (podcast)
President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, which will come into effect on April 3, initially targeting fully assembled vehicles. Trump also suggested further tariffs would be imposed on the European Union and Canada if they worked together 'to do economic harm' to the US, and threatened levies on lumber, semiconductors, and pharmaceutical drugs. The tariffs are expected to raise prices of foreign-made cars, and even US-made vehicles may see price increases if supplies and parts are hit by levies or if supply chains are cut off from manufacturing in lower-cost countries. In this bonus episode of the Bloomberg Daybreak Europe Podcast Caroline Hepker and Stephen Carroll get the thoughts of our EMEA News Director Ros Mathieson and our Markets Live Executive Editor Mark Cudmore as well as hearing from Carl Tannenbaum, Chief Economist at Northern Trust.
