Latest news with #JeanBoivin
Bloomberg
09-07-2025
- Business
- Bloomberg
Bloomberg Surveillance TV: July 9th, 2025
- Jean Boivin, Global Head: Research at BlackRock Investment Institute - Ed Mills, Washington Policy Analyst at Raymond James - Kelly Ann Shaw, Partner at Akin Gump Strauss Hauer & Feld - Nancy Lazar, Chief Global Economist at Piper Sandler Jean Boivin, Global Head: Research at BlackRock Investment Institute, talks about how markets are pricing in President Trump firming his tariff deadline and what clarity means for investors. Ed Mills, Washington Policy Analyst at Raymond James, joins to discuss President Trump's economic priorities as he finalizes tariff rates and implementation. Kelly Ann Shaw, Partner at Akin Gump Strauss Hauer & Feld, talks about the latest turn in President Trump's tariff policy. Nancy Lazar, Chief Global Economist at Piper Sandler, talks about expectations for US and global growth and inflation.
Business Times
08-07-2025
- Business
- Business Times
BlackRock prefers European government bonds over US Treasuries
[NEW YORK] BlackRock Investment Institute shifted its view on European government bonds to neutral from slightly underweight, citing the attractiveness of their yields versus Treasuries. 'We prefer euro area government bonds and credit over the US,' strategists including Jean Boivin and Wei Li wrote in a weekly note. 'Yields are attractive, and term premium has risen closer to our expectations relative to US Treasuries.' The strategists see sticky inflation keeping the Federal Reserve from cutting rates far. They also said high fiscal deficits may prompt investors to seek more compensation to hold long-term Treasuries. Treasuries sold off over the past week after posting their best monthly performance since February last month as traders priced in the prospect of Fed rate cuts. Some of those bets have been rolled back after the US reported strong employment data for June. Within the eurozone, BlackRock prefers peripheral bonds such as those from Italy and Spain. BLOOMBERG
Bloomberg
08-07-2025
- Business
- Bloomberg
BlackRock Prefers European Government Bonds Over US Treasuries
BlackRock Investment Institute shifted its view on European government bonds to neutral from slightly underweight, citing the attractiveness of their yields versus Treasuries. 'We prefer euro area government bonds and credit over the US,' strategists including Jean Boivin and Wei Li wrote in a weekly note. 'Yields are attractive, and term premium has risen closer to our expectations relative to US Treasuries.'
The Age
28-05-2025
- Business
- The Age
ASX pares gains after inflation data; Tech stocks climb after Wall Street rally
Energy stocks also advanced, with oil and gas giants Woodside (up 2.4 per cent) and Santos (up 1.6 per cent) both higher. Oil prices rose ahead of an OPEC+ committee meeting to decide on output policy for July, while traders also monitor the prospect for more US sanctions on Russia. On the flip side, all big four banks were trading lower after the inflation data. CBA, the biggest lender and also the biggest stock on the ASX, swung into the red and was down 0.2 per cent. NAB and ANZ Bank both shed 0.6 per cent, and Westpac dropped 0.5 per cent. Mining heavyweights BHP and Rio Tinto also fell 0.4 per cent and 0.5 per cent, respectively, as iron ore prices retreated overnight. Telstra's shares lost 0.3 per cent after UBS rescinded its buy rating, saying the stock was trading at a fair price after its 15 per cent rally over the past six months. The ASX added 0.6 per cent on Tuesday, followed by a 2 per cent leap in Wall Street's S&P 500 overnight in its first trading session since Trump said on Sunday he would delay a 50 per cent tariff on imports from the European Union until July 9. The EU's chief trade negotiator later said on Monday that he had 'good calls' with Trump officials and Europe was 'fully committed' to reaching a trade deal by July 9. The Dow Jones jumped 1.8 per cent, and the Nasdaq composite rallied 2.5 per cent. They more than recovered their losses from Friday, when Wall Street's rollercoaster dropped after Trump announced the tariffs on France, Germany and the other 25 countries represented by the European Union. Such talks give hope that the United States can reach a deal with one of its largest trading partners that would keep global commerce moving and avoid a possible recession. Trump declared a similar pause on his stiff tariffs for products coming from China earlier this month, which launched an even bigger rally on Wall Street at the time. Loading 'We focus on actions over words,' Jean Boivin and other strategists at BlackRock Investment Institute said, 'as economic constraints spur policy rollbacks.' Caution still remains on Wall Street, of course, even if the S&P 500 has climbed back within 1.91 per cent of its record after falling roughly 20 per cent below the mark last month. A worry is that all the uncertainty caused by on-again-off-again tariffs could damage the economy by pushing US households and businesses to freeze their spending and investments. On Tuesday, though, optimism ruled. The US market's gains accelerated after a report released by the Conference Board said confidence among consumers improved by more in May than economists expected. It was the first increase in six months. About half the survey results came after Trump paused some of his tariffs on China. Looking at individual stocks, Trump Media & Technology, the company behind Truth Social, announced it was aiming to buy $US2.5 billion ($3.9 billion) of bitcoin for its treasury. The company said it had agreed to sell around $US1.5 billion in stock and $US1 billion in convertible bonds to finance the move. The company's shares slumped 10.4 per cent after rallying premarket following a Financial Times report on its plans to raise capital to spend on cryptocurrencies. Trump Media will add Bitcoin to its balance sheet along with its current cash, cash equivalents and investments, which were worth $US759 million at the end of the first quarter, according to a filing on Tuesday. Informatica climbed 6 per cent after Salesforce said it would buy the AI-powered cloud data management company in an all-stock deal valuing it at about $US8 billion. Salesforce rose 1.5 per cent. In the bond market, Treasury yields eased to take some of the pressure off the stock market. The yield on the 10-year Treasury fell to 4.44 per cent from 4.51 per cent late Friday. It had been rising last week, in part because of worries about the US government's rapidly increasing debt.
Yahoo
09-05-2025
- Business
- Yahoo
Markets are resilient — but this bank says it could fall apart quickly. ‘Fundamentals remain dire.'
At the near midway mark of a year marked by tariff turmoil, the battle between the bears and the bulls is still shaping up. 'The AI mega force keeps us overweight U.S. stocks and positive on developed market stocks, even with more volatility,' a team at BlackRock Investment Institute led by head Jean Boivin told clients. They see a 'supply-driven contraction in U.S. activity this year,' if tariffs remain the same, but a persistent 'AI mega force' keeping developed, especially U.S. stocks, in a better spot. Stocks are at a risk of a drop of nearly 20%, says Goldman Sachs. Here's the trigger. My second wife says her 2 kids should inherit our estate, but I also have 2 kids. Is that fair? 'I'm flabbergasted': My friend wants to borrow $5,800 to save his home from foreclosure. What should I do? 'I am scared to death that I'll run out of money': My wife and I are in our 50s and have $4.4 million. Can we retire early? I'm 65 and a widow with 5 children. Should I split my $1.1 million nest egg between them while I'm still alive? And widely respected investor Bill Miller recently declared 'the worst is over' for markets, largely because much of the bad news has been priced in. Now from the bearish corner. 'We are struck at how resilient risky assets remain against a tumultuous policy backdrop and high uncertainty,' a team at HSBC led by U.S. economist Ryan Wang and other strategists say in a new research note. Narrowly escaping a bear market last month, the S&P 500 SPX is up 13% from its 52-week low of 4,982 reached April 8. 'We think it's tough to see a scenario where such resilience remains intact. Fundamentals remain dire. Negative activity surprises could see risky assets fall quickly.' They also doubt that 'a policy move from the Fed alone (a 'Fed put') would turn market sentiment around.' HSBC said the Wednesday decision by the Fed to keep interest rates on hold again only drives home the policy dilemma it faces from mixed incoming data and economic uncertainty surrounding tariffs. The strategists are most worried evidence of a hiring slump will finally show up in May hiring data, due June 6. 'If inflation concerns become more dominant in the coming months, then the market may recalibrate toward expecting fewer cuts this year. Thiscould bring the 'danger zone' back into play – that is, the high level of rate expectations that prompts a broad-based selloff,' said chief multi-asset strategist Max Kettner, offering this chart of one-month forward interest rate expectations. The red box represents an area of possible higher interest-rate expectations that could be a problem for stocks. HSBC's strategists said they are using sentiment and positioning indicators as their signals on when to get more positive on stocks again. They've 'backed away from buying territory in the last two weeks,' given the most fast-moving of their indicators on those fronts have returned to neutral. 'With sentiment not providing a clear steer, the fundamentals do not justify chasing the risk asset recovery further, in our view,' they said. So their underweight on stocks, particularly in the U.S., stands. U.S. stocks SPX DJIA COMP are surging on U.S.-U.K. trade-deal hopes after major indexes snapped a two-day losing streak. Treasury yields BX:TMUBMUSD10Y BX:TMUBMUSD02Y are slightly higher, the dollar DXY is up and gold GC00 is slumping. Bitcoin BTCUSD is nearing $100,000. Key asset performance Last 5d 1m YTD 1y S&P 500 5631.28 1.12% 3.20% -4.26% 8.55% Nasdaq Composite 17,738.16 1.67% 3.58% -8.14% 8.80% 10-year Treasury 4.296 7.50 -14.00 -28.00 -16.40 Gold 3382.8 2.53% 9.13% 28.17% 46.06% Oil 58.59 0.64% -6.58% -18.48% -26.04% Data: MarketWatch. Treasury yields change expressed in basis points Need to Know starts early and is updated until the opening bell, but to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. President Trump teased a 'big and exciting day' for the U.S. and U.K. on Thursday on social media, and media reports are pointing to a trade deal between the countries that would involve reductions in auto tariffs for both countries but the U.K. still paying the 10% global tariff. The Oval Office announcement is scheduled for 10 a.m. Eastern. He also called Fed Chair Jerome Powell a 'fool' for keeping interest rates steady. Meanwhile, the Bank of England lowered its interest rates for the second time this year, by 25 basis points. The EU said it may retaliate with tariffs on $107 billion in U.S. goods if trade talks fail with the U.S. Molson Coors stock TAP is slumping after the biggest quarterly earnings miss in four years. D-Wave Quantum QBTS posted record first-quarter revenue and narrower loss, and the stock is surging. AppLovin shares APP are climbing after the mobile-ad tech group reported surging ad revenue and offered an upbeat outlook. Zillow stock Z is dropping after the real estate platform swung to a profit, but sales disappointed. ARM Holdings stock ARM was dropping after a disappointing forecast. Weekly jobless claims fell by 13,000 to 228,000 in the latest week, slightly more than forecast and not hinting of wider layoffs. First-quarter preliminary productivity contracted 0.8%, the first decline since early 2022. Wholesale inventories are due at 10 a.m. A currency-market 'avalanche' is heading for the U.S. dollar. India and Pakistan face off, but seek to contain fallout. Everyone is cheating their way through college (subscription required) The chart from Vanda Research shows how retail investors have focused contrarian buying, that is going against the market grain, on Ford F. The automaker earlier this week pulled guidance for 2025, citing big near-term risks and warned of a $1.5 billion tariff hit this year. Shares are up 2.4% this week, but down 8% this year. 'The blue bars indicate the total net flow from retail traders since 14 Feb '25, when Trump first floated the potential for auto tariffs. The dots, capture the extent of retail inflows into some of the U.S.-listed automakers,' say Vanda. These were the most-active tickers on MarketWatch as of 6 a.m.: Ticker Security name NVDA Nvidia TSLA Tesla PLTR Palantir Technologies AMD Advanced Micro Devices AAPL Apple MSTR MicroStrategy TSM Taiwan Semiconductor Manufacturing AMZN Amazon GOOGL Alphabet MLGO MicroAlgo How millennials became the most uncool generation. Getting mail to the most remote part of America. Just a random bull, taking a moped for a spin. For more market updates plus actionable trade ideas for stocks, options and crypto, . Pope Leo XIV's election: Pope Francis, like Warren Buffett, mastered the art of succession One of the last obstacles to 24-hour stock trading is about to fall My father is giving me $250K to buy a home, but told me not to tell my two siblings. Am I morally obligated to tell them? My eldest son refused to share his father's $500K inheritance with his siblings. Should I cut him off? Trump's U.K., China trade talks come after billions in tariff damage already done — but investors still have options Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
