TPW's Pelosky Is Bullish on the Consumer
Jay Pelosky, TPW Advisory principal and founder, says he's bullish on the global consumer. He is on "Bloomberg Surveillance." (Source: Bloomberg) #press
Fed’s Waller Says Factors That Lowered Neutral Rate May Reverse
Federal Reserve Governor Christopher Waller said the decline in the neutral interest rate over time is likely due to significant changes in demand for safe assets globally, though he warned that unsustainable fiscal spending could alter that trend. #press
Oasis Management on Japan Economy, Kobayashi Pharma
Seth Fischer, founder and chief investment officer at Oasis Management, discusses his outlook for Japan’s macro economy and the upside potential for Kobayashi Pharmaceutical. He speaks on "Daybreak Asia" after the Sohn Hong Kong Investment Leaders Conference. (Source: Bloomberg) #press
ECB’s Muller Says Wage Jump Doesn’t Derail Slowdown in Inflation
The jump in a key gauge of euro-zone pay doesn’t derail the ongoing retreat in inflation and won’t stop the European Central Bank from lowering interest rates in June, Governing Council member Madis Muller said. #press
Rate Cuts Will Trigger Flood of Bond Buying, PGIM Says
The first interest-rate cut from the world’s biggest central banks will embolden investors still cautious about stepping back into the bond market and trigger a “flood” of inflows, according to PGIM. #press
Billionaire Peugeots Bow to Irate Shareholders on Royalties
The billionaire Peugeot family will cap the payments it receives from a publicly traded investment company for the use of the family name, bowing to criticism from minority shareholders who are upset at the performance of the business. #press
Three Days of Economic Data Expose UK Election Dividing Lines
The first wave of UK economic data published since Prime Minister Rishi Sunak called a snap general election is already revealing the key dividing lines that separate the two main parties. #press
Lululemon Hits Bottom of S&P 500 as Concern Over Outlook Builds
A bleak start to the year for Lululemon Athletica Inc. worsened this week after the departure of a key executive exacerbated Wall Street’s concerns around the outlook for the activewear company just ahead of its earnings report. #press
Investors Cast Wider Net For AI Winners After Nvidia Delivers
While the reaction to Nvidia Corp.’s results showed that Wall Street remains laser-focused on artificial intelligence, investors are increasingly looking beyond the usual suspects to find the next AI winners. #press
Colombia Plans to Boost Oil Output With Push for More Drilling
Colombia is targeting oil output of 1 million barrels per day by pressuring drillers to step up activity in underused exploration blocs, according to the nation’s top energy official. #press
Bloomberg Brief (05/24/2024)
“Bloomberg Brief” delivers the market news, data and analysis you need to set your agenda. Today's guests: Paolo Gentiloni, EU Economy & Financial Affairs Commissioner; Cayla Seder, State Street Macro Strategist. (Source: Bloomberg) #press
https://www.bloomberg.com/news/videos/2024-05-24/bloomberg-brief-05-24-2024?utm_source=press.coop
BHP’s Push to Woo Anglo Investors Hangs on South Africa
Regulators in the country are known for extracting significant concessions as the price for approving acquisitions. #press
Nigerian Economy Grows at Slightly Slower Pace in First Quarter
Nigeria’s economy grew at a slower than expected rate in the first quarter as a sharp currency slump took a toll on the non-oil sector. #press
Nigeria Bans Naira Street Trading as Battered Currency Takes Another Hit
Nigeria stepped up efforts to curb speculation against the battered naira, slapping tough new conditions on bureau de change and banning street trading in foreign currency. #press
Goldman Pushes First Fed Rate Cut Call to September From July
The Federal Reserve will only start cutting interest rates in September, according to economists at Goldman Sachs Group Inc., who pushed back their call from July amid signs the economy is still too resilient to justify easing. #press
London Office Linked to Malaysian Ex-Politician Pulled From Sale
A City of London office building linked to the family of a former Malaysian politician has been withdrawn from sale, according to people with knowledge of the process. #press
ECB’s Schnabel Warns Against Lowering Rates Too Quickly: ARD
The European Central Bank shouldn’t lower borrowing costs too rapidly as the retreat in euro-zone inflation is “bumpy,” according to Executive Board member Isabel Schnabel. #press
Norway’s Wealth Fund Opposes Exxon Director Over Climate Lawsuit
Norway’s $1.6 trillion wealth fund said it will vote next week against the election of Exxon Mobil Corp Director Joseph Hooley after the oil and gas giant filed a lawsuit against climate-focused shareholders. #press
State Street: Don't Expect a Fed Cut Sooner than September
The market is it's own worst enemy argues Macro Multi-Asset Strategist Cayla Seder of State Street. Expectations of a Fed rate cut in September or sooner should be put on ice until the path to 2% inflation looks clearer than today's sticky data, she says in an interview on Bloomberg Brief. (Source:... #press
Ghana Closer to $360 Million From IMF After Draft Creditor Deal
Ghana received a draft agreement to restructure debts with its official creditors that will unlock a $360 million disbursement from the International Monetary Fund. #press
