Brown Harris Stevens CEO Bess Freedman says America's housing market is splitting in two: luxury buyers remain active while affordability deteriorates for everyone else. She joins Open Interest to warn that New York's taxes and rent policies could backfire, and argues the clearest solution includes loosen zoning rules and incentivizing developers to build more homes.
Walmart shares slide after slower US sales growth, but Greg Melich, Evercore ISI Senior Managing Director, says the retailer still has powerful advantages. He joins Bloomberg Open Interest to explain why aggressive price cuts, fast-growing advertising revenue and Walmart's scale could help it win market share even as consumers slow and competition with Amazon intensifies.
Robinhood co-founder and CEO Vlad Tenev says clearer, more permanent crypto rules would give investors confidence that regulations won't shift with changing administrations. Speaking with Bloomberg's Tyler Kendall at the Commodity Futures Trading Commission in Washington, DC, Tenev says that prediction markets will survive regardless of whether the Supreme Court sides with states seeking to regulate them, though he notes that the industry may have to adapt to the legal outcome.
Market participants are warning that a lack of predictability when it comes to the US Treasury's debt management strategy could ultimately portend higher borrowing costs. Guneet Dhingra, Head of US Rates Strategy at BNP Paribas, discusses this, and examines current parallels with the 2023 bond selloff.
On this episode of Stock Movers: - Shares of Walmart (WMT) tumbled ahead of the market open after the retail giant's quarterly sales fell short of expectations, a rare miss that's likely to stoke concern about the leading big-box retailer decelerating alongside a slow-growing US economy. - Shares of Advanced Auto Parts (AAP) sunk in premarket trading after the parts provider reported second-quarter sales that fell short of analyst estimates. Though the company boosted its adjusted earnings per share forecast for the full year, it maintained its sales guidance, which is also below estimates at the midpoint. - Shares of Coty (COTY) fell after the beauty conglomerate reported fourth-quarter results. While the company's net revenue for the quarter beat the average analyst estimate, Coty didn't provide a full-year forecast and said it expects to provide a broader outlook following a strategic review.
US bonds unwound all of the gains that followed Treasury Secretary Scott Bessent's plan to increase buybacks of longer-dated debt. The moves pushed the 30-year yield on Thursday back to levels seen just before the Treasury's announcement a day prior. Ira Jersey of Bloomberg Intelligence has more.
US bonds unwound all of the gains that followed Treasury Secretary Scott Bessent's plan to increase buybacks of longer-dated debt, a sign that investors see it as only a short-lived remedy to curb borrowing costs. Jonathan Levin, Bloomberg Opinion Columnist, reacts to the treasury market moves.
Intercontinental Exchange Inc. Chief Executive Officer Jeff Sprecher says the Clarity Act would help define rules about crypto. He also talks about ICE's $1.6 billion investment in Polymarket, a leading prediction market platform, and the possibility of expanding trading hours. He speaks to Bloomberg's Tyler Kendall in Washington.
Commodity Futures Trading Commission Chairman Michael Selig says the crypto industry will get market structure rules even if Congress does not pass the so-called Clarity Act. Selig says he's optimistic the bill will pass, but regulators are ready to act if it doesn't. He speaks to Bloomberg's Tyler Kendall.
Federal Reserve Bank of San Francisco President Mary Daly suggested the US Treasury market signals that monetary policy is in a good place. She also sees no evidence that making preemptive cuts or hikes is an urgent problem to solve. She speaks on "Bloomberg Surveillance."
San Francisco Fed President Mary Daly reacts to the recent selloff in bonds and suggests the US Treasury market is signaling that monetary policy is in a good place. She speaks on "Bloomberg Surveillance."
Sophie Huynh, portfolio manager at BNP Paribas Asset Management, joins Bloomberg's Vonnie Quinn on "Bloomberg Brief" to discuss the implications and market impact of the US Treasury debt buyback plans.
