News

Bond Market’s Bet on a Half-Point Fed Cut This Month Is Over

(Bloomberg) -- The bond market has ended its long flirtation with the Federal Reserve cutting interest rates by half a point this month as resilient inflation and labor market data reinforce a measured course of action.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025UC Berkeley Gives Trans

Blackstone Finance Chief Chae Says US Inflation Is ‘at Target’

(Bloomberg) -- Blackstone Inc. Chief Financial Officer Michael Chae said the firm is “cautiously optimistic about a soft landing,” signaling the alternative asset manager is betting the Federal Reserve’s efforts to tamp down inflation won’t trigger a US recession. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops

Argentina's August inflation still stubborn as residents struggle to save

BUENOS AIRES (Reuters) -Argentina's monthly inflation rate stood at 4.2% in August, official data published on Wednesday showed, rising from last month and surpassing analysts' forecasts, while Argentines tighten their wallets to deal with spiraling costs. Inflation in the 12 months through August reached 236.7%, still the highest level recorded in the world, and also above a Reuters poll forecast of 235.8%. Analysts had hoped for a slight monthly slowdown to 3.9%, which would signal progress for the government of libertarian President Javier Milei, which has been focused on taming runaway prices.

Oil Jumps as US Gulf Hurricane Spurs Short-Covering by Traders

(Bloomberg) -- Oil climbed the most in two weeks as Hurricane Francine ripped through key oil-producing zones in the US Gulf of Mexico, prompting traders to cover bearish bets. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025UC Berkeley Gives Transfer Students a Purpose-Built Home on Campu