U.S. inflation is set to decline next year, according to activity in the bond market, with the gap between the two-year and 10-year Treasury yields trading at its most negative level in decades. The gap between one-year Treasury inflation-protected securities and similar-dated nominal government notes is at 2.18 percent, indicating that average inflation over the…
Bond Traders Expecting Inflation to Plummet in 2023
How and When Will This Inflation End?
Commentary Can the press stop saying that inflation is “easing” please? It’s getting ridiculous. The Consumer Price Index came in at 7.1 percent from a year ago. That’s terrible. Yes, not as terrible as last month but look at the breakdown in detail. Food at home was up 10 percent and food at restaurants up…
Stocks Open Sharply Higher as Inflation Cools in November
Stocks are opening sharply higher on Wall Street after the government reported that inflation slowed dramatically last month. The S&P 500 jumped 2.5 percent in the early going Tuesday and the tech-heavy Nasdaq composite rose 3.3 percent. Treasury yields also fell sharply following the report showing that consumer prices rose 7.1 percent in November from…
Dollar Steadies in Calm Before CPI and Central Bank Storm
London—The dollar steadied on Tuesday ahead of the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks. A month ago, a small surprise to the downside unleashed a wave of bond buying and dollar selling on the expectation that inflation had peaked….
Oil Climbs on Supply Disruptions, Easing COVID-19 Restrictions in China
LONDON—Oil extended gains on Tuesday on supply disruptions and as COVID-19 restrictions eased in China, the world’s largest crude importer. Brent crude futures were up 64 cents, or 0.82 percent, to $78.63 per barrel by 1159 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 39 cents, or 0.53 percent, to $73.56. WTI hit…
Shares, Dollar Hold Steady Ahead of Key Inflation Data
LONDON—Global stocks held steady on Tuesday, while the dollar eased modestly ahead of U.S. inflation data that could persuade the Federal Reserve and other central banks to step back from aggressive interest rate hikes. Headline consumer price pressures for November in the world’s largest economy are expected to have fallen for a fifth successive month,…
US Inflation Will Be Much Lower by End of 2023: Yellen
U.S. Treasury Secretary Janet Yellen on Sunday forecast a substantial reduction in U.S. inflation in 2023, barring an unexpected shock. “I believe by the end of next year you will see much lower inflation if there’s not … an unanticipated shock,” she told CBS’ ’60 Minutes’ in an interview released Sunday. Asked about the likelihood…
Jamie Dimon Says America Needs a ‘Marshall Plan for Energy’ With More Fossil Fuel Production
Jamie Dimon, the CEO of JPMorgan Chase, says America needs a ‘Marshall Plan for energy’ to significantly boost domestic energy production, as oil and natural gas costs rise. Dimon repeated his call to build up American energy infrastructure while speaking at a panel on CBS’s Face the Nation, on Dec. 11. The Marshall Plan, named…
Wall Street Opens Higher as Investors Await CPI Data, Fed Decision
Wall Street’s main indexes opened higher on Monday as investors awaited inflation data and the Federal Reserve’s policy decision later this week to gauge the U.S. economic outlook amid worries of a recession. The Dow Jones Industrial Average rose 43.04 points, or 0.13 percent, at the open to 33,519.50. The S&P 500 opened higher by…
Dollar Eases, but Inflation Outlook Stays High on Investors’ Radar
LONDON—The dollar eased on Monday but its losses were contained by data last week that showed U.S. wholesale inflation rose more than expected last month, reinforcing the view that the Federal Reserve may have to keep interest rates higher for longer. The U.S. currency made the most upward headway against commodity-linked currencies like the Australian…
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