EUR/USD
1.13040
-0.579%
Gold
3371.07
-1.732%
Oil
57.802
-1.553%
USD/JPY
143.810
0.958%
GBP/USD
1.32945
-0.562%
GBP/JPY
191.195
0.436%
Real-time News
On May 8, Bill Zox, portfolio manager at Brandywine Global, said that by the time the Fed takes action, it will be obvious what they should do. The real action worth watching is between the Trump administration and the financial markets. If the Fed cuts interest rates ahead of schedule, the 10-year Treasury yield may go higher, which will be counterproductive.Citigroup hired JPMorgan Chase & Co. veteran Budnick to run its wealth business.On May 8, according to CMEs "Fed Watch": The probability of the Fed keeping interest rates unchanged in June is 76.1% (previously 71.6%), the probability of a 25 basis point rate cut is 22.9% (previously 27.8%), and the probability of a 50 basis point rate cut is 1% (previously 0.6%). The probability of the Fed keeping interest rates unchanged in July is 27.3%, the probability of a cumulative 25 basis point rate cut is 57%, the probability of a cumulative 50 basis point rate cut is 15%, and the probability of a cumulative 75 basis point rate cut is 0.6%.May 8, U.S. President Trump said on Wednesday that he will soon announce whether the United States will relax restrictions on microchip exports to some Gulf countries. He said: "We may do so. It will be announced soon." Trump is preparing for his first major foreign visit next week, including a three-nation tour of the Middle East starting in Saudi Arabia. The Biden administration has imposed strict controls on the export of artificial intelligence chips from the United States to the Middle East, but Trump has made improving relations with some countries in the region his key goal. Trump also said he plans to respond soon to reports that the United States will rename the Persian Gulf as the Arabian Gulf."New Bond King" Gundlach: I do think the Federal Reserve may cut interest rates before the end of the year.
