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Bloomberg Surveillance
Surveillance: Big Week for Central Banks
Sep 18, 2023
A PIMCO executive considers the US 10-year bond attractive. The European economy is compared to the US. A market strategist warns of a wage-price spiral. The Democratic party lacks a logical successor to President Biden. An energy director predicts oil will hit $100 a barrel by Halloween.
35:47
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Quick takeaways
- The US 10-year bond is currently an attractive investment option according to PIMCO Global Head of Fixed Income, Andrew Balls.
- China's strong oil demand is defying concerns about its sluggish economy and will be discussed at the World Petroleum Congress.
Deep dives
1. Strong demand and redistribution between refiners and producers in the oil market
The oil market is currently experiencing a surge in prices due to strong demand, which has surprised analysts despite recessionary fears. However, the impact on end-users is not significant as crack spreads for gasoline and diesel have already been high for the past few months. This surge in prices is more of a redistribution between refiners and producers rather than a direct impact on consumers.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode