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Anton Schutz and Sonali Basak analyze earnings results of US banks. Emilio Tenuta discusses water access and sustainability. Enda Curran analyzes potential risks to the global economy. Silvina Moschini explores SEC approval of Bitcoin ETFs. Kathy Jones discusses fixed income strategies.
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- US banks reported mixed earnings results, with concerns over credit quality in the banking sector.
- Delta Air Lines' withdrawal of its profit target dampened investor sentiment towards airlines.
Deep dives
Yields Decline as PPI Softens and CPI Impact Fades
US Treasury yields fell as the producer price index (PPI) unexpectedly declined, reinforcing expectations of rate cuts by the Federal Reserve. The two-year yield hit the lowest since May, while the 10-year yield dropped below 4%. The market is anticipating rate cuts by the Fed, although the expectations may be aggressive. The decline in inflation and the trend of inflation going down are supporting the expectations of rate cuts. The yield curve is expected to remain volatile as the market prices in rate cuts by the Fed.
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