The Inflation Rally Goes Global
Summary
A better-than-expected Consumer Price Index report triggered a big surge in stocks and bonds, as investors bet that interest rates will begin to fall. Here’s what’s exciting investors: Yesterday’s cooler-than-expected Consumer Price Index data has shifted discussion in the markets from potential interest rate hikes to cuts, and what that might mean for stocks. The pro golfer stepped down five months after the tour announced an agreement with Saudi Arabia’s sovereign wealth fund, the backer of LIV Golf, to try to create a joint company that would end the sport’s money-fueled battle for supremacy. The company nearly doubled the number of banks it rates to 50, by expanding eligibility to institutions with $200 billion in total assets and including lenders in the Asia-Pacific region. Haley already has support from notable wealthy donors, including the oil magnate Harold Hamm, Jim Haskel of the hedge fund Bridgewater Associates and the deal maker Aryeh Bourkoff.