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Bloomberg

Stocks and Bonds Fall as Jobs Fuel Fed-Hike Bets

Wall Street's historic weekly run is poised to come to a halt, with stocks and bonds falling after a solid jobs report added to speculation the Federal Reserve's next interest-rate move will be a hike. Kevin Gordon, Head of Macro Research and Strategy for the Schwab Center for Financial Research at Charles Schwab, discusses the equity reaction to May jobs.

Read more: Stocks and Bonds Fall as Jobs Fuel Fed-Hike Bets
Bloomberg

US Hiring Surged in May, Boosting Bets on Fed Rate Hike

US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring. Frances Donald, Chief Economist at RBC, discusses the jobs data and what it signals for the US economy as inflation begins to outpace wage growth.

Read more: US Hiring Surged in May, Boosting Bets on Fed Rate Hike
Bloomberg

DocuSign Drops on Earnings; Coinbase Down on Bitcoin Decline | Stock Movers

On this episode of Stock Movers with Alexis Christoforous: - Lululemon (LULU) shares are lower after it lowered its annual forecast due to deteriorating performance in North America. - DocuSign (DOCU) shares are lower after reporting earnings. While it reported a rise in 1st quarter profit, the annual recurring revenue rate was unchanged and investors may be looking for a return to double digit growth. - Coinbase (COIN) shares are lower as Bitcoin slides below $62,000 this morning. Ether is also declining.

Read more: DocuSign Drops on Earnings; Coinbase Down on Bitcoin Decline | Stock Movers
Bloomberg

`There Is No AI Bubble,' Says BI's Rob Schiffman

Bloomberg Intelligence tech credit analyst Robert Schiffman says that the borrowing spree to fund the AI buildout is coming from ``the Mount Rushmore'' of credit and that ``there is no AI bubble.'' He spoke with Bloomberg News' Paula Seligson in a panel alongside BI colleagues Noel Hebert and Jody Lurie at the Bloomberg Global Credit Forum in New York on June 3.

Read more: `There Is No AI Bubble,' Says BI's Rob Schiffman
Bloomberg

Morgan Stanley Sees AI-Related Funding Expanding to 15% of All Credit Deals

Scott Goodwin, co-founder and managing partner at Diameter Capital Partners, says that business development companies will face pressure to sell their highest-quality loans to software companies at a discount as banks tighten their grip on the private credit funds. Goodwin speaks with Bloomberg TV's Dani Burger at the Bloomberg Global Credit Forum in New York on June 3.

Read more: Morgan Stanley Sees AI-Related Funding Expanding to 15% of All Credit Deals
Bloomberg

Rieder Likens US Economy to 'Three Month Old Birthday Cake'

BlackRock Global Fixed Income CIO Rick Rieder says the US economy is tricky right now, comparing it to a three-month-old birthday cake where the icing tastes great but underneath isn't so good. Speaking with Matt Miller on "Bloomberg Open Interest," Rieder says AI will change the ecosystem and the Federal Reserve should pull back a bit to evaluate.

Read more: Rieder Likens US Economy to 'Three Month Old Birthday Cake'