Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
The company's comments Friday come after the White House said U.S.Trade Representative Robert Lighthizer will "address the threatened impairment" of national security from...Autosread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
Apple CEO Tim Cook was the commencement speaker at Tulane University Saturday. In his speech, the tech executive focused on the importance of addressing climate change and...Power Playersread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Some analysts see streaming services like Netflix becoming hindered by one of the things that made them so popular in the first place — binge watching.Entertainmentread more
There is a shortfall of cybersecurity workers that could reach as high as 3.5 million unfilled roles by 2021. A start-up called Synack provides crowdsourced security, and...CNBC Disruptor 50read more
Yardeni Research's Edward Yardeni recommends investing in U.S. companies with exposure to China.Trading Nationread more
CNBC and SurveyMonkey's latest small business optimism index echoes that sentiment, finding 52 percent of small businesses say it's harder to find workers today than it was a...US Economyread more
CNBC combed through Wall Street research over the last week to see which stocks analysts say have the best risk-reward.Marketsread more
Western Union is not panicking, but the delivery of money around the world is being upended, says CEO of upstart TransferWise. It broke into the $689 billion remittances...CNBC Disruptor 50read more
CHICAGO — The Federal Reserve is caught between a rock and a hard place as tensions with China increase, according to an award-winning portfolio manager.
"The Fed is trapped by the circumstances," Dan Fuss, manager of the Loomis Sayles Bond Fund and winner of the Morningstar Outstanding Portfolio Manager award, told CNBC. Fuss received the award on Thursday at Morningstar's annual investment conference. Morningstar said Fuss received the annual award for his "value-driven, often contrarian" strategy.
"You're getting diversions of Athens and Sparta right now given how things are playing out not just in trade — although that is the most visible— but through one-offs and other activities," he said, referring to China and the U.S. "I don't want to sound bearish, but we're cautious."
Both countries have recently ratcheted up trade tensions after President Donald Trump threatened to slap additional tariffs on Chinese imports. Trump tried to assuage these concerns, saying on Thursday that a deal with China was still possible. He noted, however, that the tariffs are an "excellent " alternative to a deal.
This has sent ripples through financial markets. In equities, the Dow Jones Industrial Average is down 2.5% this week. The benchmark 10-year Treasury yield is down to around 2.45% from 2.55% at the start of the week.
Investors had priced in a trade deal ahead of this week as both sides appeared to make progress on that front. Trade fears were one of the key factors that drove equities down last year.
Fuss' fund has more than $10 billion in assets under management and has outperformed 80% of rivals over the past 10 years, Morningstar data shows. In that time, the fund has returned 7.8% to investors, 4 percentage points above the category average.
However, he said that opportunities are harder to come by nowadays as spreads remain narrow. "We're waiting for opportunities to develop one by one. They're not devolving in mass, but every once in a while you get a slight dislocation somewhere."
He told CNBC's "Power Lunch " he has a cash-equivalent position in the "high teens."