The U.K. housing market remained listless in July as Brexit uncertainty intensified and Britons braced for an interest-rate increase from the Bank of England, according to the Royal Institution of Chartered Surveyors.
Federal Reserve Chairman Jerome Powell signaled growing optimism on the U.S. economy while trying to reassure investors that the central bank would not derail the country’s second-longest expansion by aggressively tightening monetary policy.
Jerome Powell opened the door to the Federal Reserve raising U.S. interest rates four times this year as he acknowledged strengthening economic growth and inflation may prompt policy makers to rethink their plan for three hikes.
Like everything in markets, this defies easy narratives. Is it rising yields, hedge funds selling out of arcane positions, inflated valuations bursting or none of the above? After two days of relative peace, investors theorized on what drove U.S. stocks Continue reading →
They’ve faced threats before: swollen valuations, a stagnating economy, stretches of declining earnings. Now investors are dealing with a new menace, and it’s wreaking more havoc than anything in two years.
U.S. stocks plunged the most in 6 1/2 years, with the Dow Jones Industrial Average sinking more than 1,100 points, as the equity selloff reached a fever pitch amid rising concern that inflation will force interest rates higher. Treasuries rallied Continue reading →