The Debt Ceiling Could Be a Mess. How to Play It.

Illustration by Alberto Miranda Text size The debt-ceiling standoff between the GOP House and the Biden administration will likely cast a long shadow over markets. President Joe Biden met with House Speaker Kevin McCarthy and other congressional leaders this past week, but their talks ended without a resolution, and a Friday meeting was postponed as … Read more

Japan yen could hit 120 this year, Nomura says

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. Tomohiro Ohsumi | Bloomberg | Getty Images The Japanese yen could strengthen to 120 per dollar by the end of the year on the back of a change in the central bank policy. … Read more

Banks creating downside risks for global growth: IMF chief economist

Interest rate rises have increased banks’ vulnerabilities — and their response presents a significant risk to global growth, the International Monetary Fund’s chief economist warned Tuesday. “We are concerned about what we have seen in the banking sector, particularly in the U.S. but maybe also in other countries, might do to growth in 2023,” Pierre-Olivier … Read more

Major trading platform CEO sees signs of a bond ETF revival

Demand for bond ETFs appears to be rising. According to MarketAxess CEO Chris Concannon, there are signs Treasury ETFs are on the cusp of substantial inflows. “We’re about to see what I’d call [a] bond renaissance,” the electronic-trading platform CEO told CNBC’s “ETF Edge” this week. “The Fed is still taking action, so I would … Read more

US Stock Market: Dow Jones falls 91 pts dragged by banking shares amid SVB contagion fears; S&P 500 follows suit, Nasdaq bucks trend

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Stocks Are Sinking and Rates Are Rising. It’s Painful, But We’re Heading for Normal.

Stocks and bonds are tumbling. Housing has weakened. And I haven’t heard a word about nonfungible cartoon monkey tokens in maybe three months. Strategists are now turning to truly bizarre assets—two I spoke with this past week recommended purchasing long-term Treasurys. One also said to favor shares of companies that generate cash, and he wasn’t … Read more

Tumbling Markets Imperil Tech, the Dollar, and Private Equity

Text size Japan has had to intervene to support the sliding yen for the first time since 1998, even as it tries to keep its interest rates low. Akio Kon/Bloomberg The world has been hooked on cheap money for years. Now we’re witnessing what withdrawal looks like. Lifting interest rates from nil has produced a … Read more

One number could be the key to how markets trade right after Fed meets

The bond market is waiting for Federal Reserve officials to reveal how high they think interest rates will go. The reaction to that forecast will also have a profound impact on stocks, which have struggled as rates have risen in anticipation of a more aggressive Fed. The latest Fed forecast for a terminal rate — … Read more