Latest news with #riskassets
Bloomberg
7 days ago
- Business
- Bloomberg
Job Description — Find Better Numbers, or Else
To get John Authers' newsletter delivered directly to your inbox, sign up here. It's amazing how quickly momentum can reverse. The rally for risk assets had grown to look unstoppable since the US administration announced its first climbdown from the Liberation Day tariffs back in April. Nothing — not even a US attack on Iran or the reimposition of tariffs barely altered from the original plan — could stop stocks' relentless outperformance. But for the second summer in a row, August has started with a dramatic reversal for stocks (proxied in the chart by the SPY exchange-traded fund) compared to bonds (proxied by the TLT ETF):
Bloomberg
22-07-2025
- Business
- Bloomberg
Bloomberg Daybreak: The Fed's Building Renovations
On today's podcast: 1) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington. 2) A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. 3) Japan's chief trade negotiator Ryosei Akazawa met with US Commerce Secretary Howard Lutnick on Monday as an Aug. 1 deadline for higher tariffs looms.
Yahoo
15-07-2025
- Business
- Yahoo
Wall Street analyst says he's 'very humbled by this rally' amid risk-on surge
Wall Street analyst says he's 'very humbled by this rally' amid risk-on surge originally appeared on TheStreet. Bitcoin hit a record $123,000 this week, an 'everything pump' moment that's left even veteran traders humbled. As Bloomberg Intelligence's Mike McGlone put it, 'Markets can be very humbling. So I'm very humbled by this rally in Bitcoin.' During a discussion led by TheStreet Roundtable Scott Melker, the panel dove into why risk assets are flying despite looming geopolitical tension and macroeconomic uncertainty. "We're all back to celebrate $123,000 Bitcoin," said Melker. "At this moment, we're trading at an extremely low and obviously disappointing price of $121,845—less than 1% off the high.' McGlone, who joined the meeting from the U.S. heartland, gave a wide-ranging summary of market signals from Bloomberg's morning coverage. One key takeaway came from Aniwon, who expects CPI to undercut estimates with a year-over-year figure around 2.8%.'She thinks a lot of the tariffs have already been factored in,' McGlone noted, adding, 'Retail sales, she expects to show a bit of a pullback.' He also flagged risks in equity markets, with strategist Gillian Wolf noting that 'analysts are dropping earning estimates. Outside of tech, she actually expects earnings to show contraction by the end of this year.' While some have warned of weakening U.S. bond appetite, McGlone pointed to Ira Jersey's insights on unexpectedly strong demand. 'The 30-years recently saw the most direct demand ever,' he said, mostly from domestic investment funds and primary dealers. On the FX front, Jill Freeman is still waiting for a bounce in the dollar but sees 'no catalyst.' Meanwhile, McGlone said the Trump-Powell tension is 'quite significant for the dollar.'But one of McGlone's most pressing points came from his commodities focus: 'Why buy gold when Bitcoin's on a tear, the stock market's on a tear, and interest rates are high? But yet they still are. Gold's hanging in there. Central banks are buying.' In closing, McGlone highlighted the divergence in global copper pricing and China's deflationary money supply surge: 'China's running about $45 trillion money, double the U.S. Despite that, their PPI is minus 3.6%.' Wall Street analyst says he's 'very humbled by this rally' amid risk-on surge first appeared on TheStreet on Jul 14, 2025 This story was originally reported by TheStreet on Jul 14, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
14-07-2025
- Business
- Yahoo
'Regime Change' at Fed? Crypto Rallies as Pressure Mounts on Chairman Jerome Powell
All things being equal, easier monetary policy tends to be good for risk assets — crypto surely among them. Bitcoin rallied to above $120,000 for the first time ever over the weekend as pressure on hawkish U.S. Federal Reserve Chairman Jerome Powell to step down or be fired amped even higher. Coincidence? To review, Jerome Powell — who rushed through 75 basis points of rate cuts prior to the 2024 election — quickly switched to a more hawkish stance following Donald Trump's election (though he did allow one more 25 basis point cut just after November), and it famously hasn't sat well with the president. "Frankly, it's about breaking some heads," said former Fed Governor Kevin Warsh on Fox News on Sunday. Warsh, who has been consistently touted as a leading possible replacement for Powell, added that the central bank's $2.5 billion renovation project was among several examples of how the Fed "has lost its way" and said it was time for "regime change." Also appearing on TV on Sunday and also another contender to lead a post-Powell Fed, National Economic Council Director Kevin Hasset said the president's possible power to fire Jerome Powell is "being looked into ... but certainly if there's cause, he does." The latest angle of attack against Powell is the Fed's $2.5 billion renovation project. Powell is being questioned not just over the massive expense, but over whether he may have misled Congress in his testimony regarding the renovation. Office of Management and Budget (OMB) Director Russ Vought last week sent Powell a list of questions regarding the project. The Fed over the weekend created a new FAQ page on its website to give its side of the story. Adding his comments over the weekend, the president said it would "be a great thing" for the country if Powell were to exit. "Jerome Powell has been very bad for our country," he added. "We should have the lowest interest rate on Earth, and we don't. He just refuses to do it." "I don't know what he knows about building, but you talk about cost overrun," Trump said of the $2.5 billion renovation. He reminded that the project was approved and began moving forward while Joe Biden was still president. While Powell has kept a publicly neutral stance towards crypto, a new Fed chair could be seen as a positive for the community even beyond what surely would be easier monetary policy. Powell, over the years, has maintained his stance that bitcoin is a competitor to gold rather than to the U.S. dollar given that people are not using it as a form of payment but rather as an investment vehicle. However, he has repeatedly called for clearer regulation, specifically around stablecoins and their risks to financial stability as the industry continued to grow more mainstream. He has also stressed the importance of consumer protections as well as concerns about "debanking" practices in which financial institutions are forced to cut ties with crypto firms due to the risks associated with the asset class.
Bloomberg
14-07-2025
- Business
- Bloomberg
Bitcoin Hits Record High of $120,000 as Bullish Momentum Builds
Bitcoin reached $120,000 for the first time, with investor optimism increasing almost daily after it emerged from a narrow trading range that had left skeptics wondering whether the original cryptocurrency would regain the record-breaking momentum seen at the start of the year. After surging on the election of Donald Trump to a second US presidential term, Bitcoin had settled into a pattern of fluctuating on either side of $100,000 for several months. Concern about Trump's political and economic policies had helped to temper optimism over the pro-crypto agenda of his administration. Now with other risk assets such as stocks back around record highs, Bitcoin has also resumed its push higher.
