Morning, good morning. This is bloomberg surveillance. Equity futures unchanged on the s p. Alltime highs off the back of a hotter than expected cpi report. Theres a difference between what economists expected and what the market was priced for. Making absolutely no sense whatsoever. Which one was it. Basically youre having people justify the story at a time when there are more than half of the components of the dutch them coming in hotter than expected. Theres a lot of seasonal issues with the fact prices reset. They can explain it away because the fed wants to cut rates. On the flipside it doesnt make any sense for the fed to cut rates if you see a reacceleration in goods pricing. If you see that in the other components of this index. Is it a fed thats going to cut rates matter what or is it stickier inflation people have to grapple with . Bank of america saying this, Service Inflation good surprise. You can take comfort from the discomfort of the latter. We are still on the down tre
Annabelle counting down to asias major market opens. Haidi asian equities set to open lower after wall streets biggest line in six months as the reality of higher for longer sticks in. The global. Australia hitting a deadline to respond to the regulators into end strikes at chevron export facilities. Breaking news crossing the bloomberg when it comes to the Australian Judo Bank pmi numbers. What we had seen was relatively sanguine data from australia despite the hikes. We are seeing the pmi composite number preliminary reading coming in at 50. 2. That is actually a jump from 58 for getting out of contractionary territory. A slight deterioration from 49. 6. Something further into contraction. The Services Component of that seeing an improvement at 58. 5. Quite significantly pulling back. Fairly steep in contractionary territory and now just expanding. Shery look at u. S. Futures. Early in the Asian Session after the s p 500 saw its first date march. S p and nasdaq 500 now on track for t
After volatility yesterday that left all three majors lower. The nasdaq down for two days in a row. Equity markets once again after three weeks of huge volatility, look at thelets twoyear yield, 10 year yield, and spread. Up four basis points after yesterdays options. The 10 year yield down a bit. We have the 210 spread coming in just a little bit as we have a movement, you take a look at g btv 5957. An important driver on stocks. Spread that is inflation expectation, the cost year,ey coming in, last the spread had really come in as thatyearold curve flattened. Year, the 210 spread flowing out again. Getting a little tale with an the question is whether it can last. Thank you for that era is half forward for the Federal Reserve, lets get over to Michael Mckee in minneapolis. Michael thank you. We are here with the president of the minneapolis fed and has been kind enough to invite us to his place, particularly the fed minutes and a focus on what you guys did at the last meeting, includ
And welcome to power lunch. Eye melissa lee, your money carving out some small money today, and russell 2000 at rosh highs. Its a global rally. Lets check out bitcoin is bouncing back after falling below 10,000, Goldman Sachs say its a bubble bigger than the dotcom era and famous tulip bulb mania, and p g was down travelers rallying by almostsh topping expectations tyler . Thank you very much, melissa. Welcome, everybody we begin with a major decision from the white house the administration saying it will slap tariffs on solar panels and washing machines. If youve got a solar powered washing machine, you are not, kayla, going to have whiter whites Kayla Tausche is at the very white house with more. Reporter those tariffs are steep and final. For companies outside the United States empowereding washing machines into the United States theyll sue new tariffing between 20 and 50 , depending on the number of washing machines they are importing. For components that 50 . For solar part manufa