The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
Today's rally clearly indicates that the market is happy for the moment with just a partial deal. But the Dow gave up 200 of its 500-point gain in the final half hour as...Trader Talk with Bob Pisaniread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts.Investing in Spaceread more
Typhoon Hagibis made landfall south of Tokyo on Saturday evening. By Sunday around 376,000 homes were left without electricity, and 14,000 without running water across Japan....Weather & Natural Disastersread more
While Warren's ad about Facebook isn't true, the company's own policy allows politicians to make such false claims in paid advertising.Politicsread more
California's Tehachapi Pass is already home to one of the largest wind farms in the world, and now Amazon is coming, building a huge wind project in the area. How...Powering the Futureread more
Stocks in the U.S. and Europe were under pressure Tuesday as the global surge in bond yields gained momentum.
Easy monetary policies from the Federal Reserve and the European Central Bank have created asset inflation, Joseph Tanious, principal at Bessemer Trust, told CNBC's "Squawk Box" in an interview. "I'm not so sure that bubble is in the stock market just yet. I think if you take a look at bonds we can argue clearly that valuations there have gotten really frothy."
Anastasia Amoroso, global market strategist at JPMorgan Funds, said, "It's all about the German bund." The average yield on German government debt, which had dipped negative recently, spiked to around 70 basis points Tuesday. "What really matters right now to the U.S. Treasury is what's happening in Europe," Amoroso said. The yield on the 10-year Treasury was around 2.31 percent Tuesday.
"The [price] selloff in the bund may be overdone," said Amoroso. She said the reasons for the fall in bund prices, which move inversely to yields, were two-fold. On the positive side, she said, "credit growth in the euro zone has picked up … [and] it seems like QE [in Europe] is finally working." The ECB has embarked on a Fed-style quantitative easing bond purchase program. On the technical side, she said there's "too much supply in too short of time."
Tanious said he expects choppiness in world bond markets to prevail. "I suspect that between now and the end of the year we're probably going to see interest rates move a little bit higher," as traders get out in front of the Fed's expected rate hike, which many economists think won't happen before September.
As for stocks, he said, "I don't think, unless you enter a recession, you're going to see multiples contract," referring to the price to earnings ratio.
"I don't think you're going to get a whole lot more multiple expansion from this point," he continued. "But I think multiples kind of hover at these levels. And the majority of gains moving forward comes on the back of earnings."