Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
Billionaire hedge fund manager Stanley Druckenmiller on Tuesday warned that the budget deal struck between President Donald Trump and congressional leaders earlier this week will only add to an already-dangerous national debt problem.
"The obscene budget is just another example of an unintended consequence of global central banks cancelling market signals," he told CNBC's Kelly Evans in an email.
"Politicians will continue to engage in myopic policies until markets revolt. And the longer these policies are sustained, the bigger the bill we will leave the next generation," he added.
Druckenmiller's comments came less than a full day after Trump announced on Twitter that he'd reached a fiscal spending compromise with Senate Majority Leader Chuck Schumer and Speaker of the House Nancy Pelosi. The budget deal would raise U.S. discretionary spending to $1.37 trillion in fiscal year 2020, up from $1.32 trillion this year, according to Reuters.
The agreement, however, has faced criticism both in Washington and on Wall Street, where Druckenmiller and others have called for deeper spending reductions amid an expanding national debt. He told CNBC in June that mounting corporate debt puts the U.S. in bad shape in the event of a recession.
Druckenmiller is former chairman and president of Duquesne Capital and is currently CEO of Duquesne Family Office.
"We are in worse shape for a recession now than if things had slowed down," Druckenmiller said at the time. "Once confidence turns down, you have to deal with the hand you're dealt, and Chairman Powell has now got a tough situation on his hands."
"I deeply, deeply believe in a capitalist system you need a hurtle rate for investment and if that rate in not up there around 3 or 4 [percent], people are going to get crazy," he said.