talk all about this and very much more with me pand JP Morgan global market strategist mirror great to have you with us um very good morning to you snapshot I guess for me why don't we start there on the international pitches obviously US markets record highs bounce back very strongly but outperformed by a number of international markets has that changed the sort of perspective your clients have on on those markets or very much still focused on the US there is still a huge home bias towards US stocks but it ...

Group 1: Economic Environment - The May 2025 Personal Consumption Expenditures (PCE) inflation report indicates core PCE inflation rose approximately 0.22% month over month and 2.68% year over year, reinforcing expectations for the Fed's hawkish stance [1][11] - Treasury yields have increased, with the benchmark 10-year yield climbing from roughly 3.35% to about 3.45%, reflecting market reactions to persistent inflation data [2][11] Group 2: Financial Sector Performance - Financial institutions, including banks and insurance companies, are expected to see increased profitability due to higher lending rates and improved net interest margins in a high-rate environment [4][5] - The S&P 500 Financials Select Sector SPDR (XLF) has risen 9.1% year to date as of June 30, indicating strong performance in the financial sector [5] Group 3: Investment Opportunities - Stocks such as Nelnet, Inc. (NNI), Pagaya Technologies Ltd. (PGY), and United Fire Group, Inc. (UFCS) are highlighted as viable investment options due to their strong earnings momentum and favorable growth rates [3][11] - Nelnet (NNI) has an expected earnings growth rate of 59% for the current year, with a Zacks Rank 1 and a VGM Score of B [8] - Pagaya Technologies (PGY) shows an expected earnings growth rate of 195.2% for the current year, also holding a Zacks Rank 1 and a VGM Score of B [9] - United Fire Group (UFCS) has an expected earnings growth rate of 8% for the next year, with a Zacks Rank 2 and a VGM Score of B [10]

M Idea Morgan Stanley & Co. LLC Matthew Hornbach Strategist Matthew.Hornbach@morganstanley.com +1 212 761-1837 Martin W Tobias, CFA Strategist Martin.Tobias@morganstanley.com +1 212 761-6076 Francesco Grechi Strategist Francesco.Grechi@morganstanley.com +1 212 761-1009 Aryaman Singh Strategist Aryaman@morganstanley.com +1 212 761-1993 Eli P Carter Strategist Eli.Carter@morganstanley.com +1 212 761-4703 June 27, 2025 09:16 PM GMT US Rates Strategy | North America Watch the Economic Data, Not the US Equity Ma ...

But yields are sinking today even as we're talking about the long-term fiscal sustainability of the US government. Maybe Rick Santelli who is back now can explain. Hi Rick. Hi.you know whether it's the month end quarter end halfyear end effects or just in general as the last guest Steve pointed out and so appropriately sometimes markets don't trade on fundamentals and on the interest rate side there has been a global propensity for lower rates but everything you said is true Kelly this administration's budg ...

Singapore government bonds are trouncing developed-market peers, and the rally may have legs as ample liquidity and limited supply continue to weigh on yields https://t.co/XwInIVVmd5 ...

RT Omid Malekan 🧙🏽‍♂️ (@malekanoms)Hosseeb is correct in his conclusion that staking yields should be on the low end, mostly because slashing is either rare or on a chain like Solana non-existent. It never makes sense to pay high interest on an activity with no risk and slight liquidity disruptions.My sense is most of the newer chains that started with high emission rates did so because a)Bitcoin's curve was the default and b)They wanted grifty tokenomics that rewarded insiders (see TIA et al).But we should ...

We're looking at a market that seems to be pricing in more and more Fed rate cuts. We're thinking about maybe three pricing in two, of course, thinking about maybe we'll get to pricing in three and that's pushing futures higher a bit here in Europe and also in the United States. At how will the market deal with some sort of shadow Fed chair situation.Is that what we're looking at here. Well, first of all, we're already seeing the impact in terms of a softer dollar. We're seeing slightly softer yields.I don' ...

For more on Powell's testimony and how the Middle East conflict uh factors into the Fed's thinking, let's bring in Fed Watch Advisors founder Ben Emmens. Ben, great to see you. Um I first want to ask you about bond yields being at 4.29% on the 10-year and and I'm just wondering because we saw this is a day when the markets rallied.We saw oil come off precipitously. All the risk premium got taken out of the oil market at this point and we didn't have much of a move in the bond market. So at this point is it ...

like Matt on because you're trying to figure out what exactly are we not thinking of in terms of the market action why are we higher why is V down all these things that you wouldn't have thought we play that game if I told you what had happened would you be able to tell me what the reaction the market% none of this today I would give maybe maybe yields maybe yields lower it was the only one I potentially could have gotten right based on but in terms of crude oil being down 6% absolutely not the S&P rallying ...

>> I'M ROMAINE BOSTICK. BLOOMBERG REAL YIELD STARTS NOW. COMING UP, THE FED KEEPS RATES STEADY AS CHAIR POWELL FLAGS INFLATION COMING DOWN THE PIPE.BUT EARLIER TODAY FED GOVERNOR WALZ OR HAD SOMETHING TO SAY. A DOVISH TILL POTENTIALLY CUTTING RATES AS SOON AS NEXT MONTH IN HIS VIEW. AS MARKETS GET A REPRIEVE FROM GLOBAL TENSIONS, PRESIDENT TRUMP BUYING TIME IN THE MIDDLE EAST.WE BEGIN WITH THE BIG ISSUE AND IT IS WAIT AND SEE AT THE FED. >> THE FED IS IN THIS REALLY POLICY PURGATORY. >> I THINK THEY ARE DOI ...