Long time venture capitalist Tim Draper on bitcoin and volatility in the IPO market

Long time venture capitalist Tim Draper on bitcoin and volatility in the IPO market2:12 PM ET Wed, 22 May 2019Tim Draper, long time venture capitalist, joins CNBC’s Dierdre Bosa to discuss the IPO rush, bitcoin volatility and regulating Facebook.


Long time venture capitalist Tim Draper on bitcoin and volatility in the IPO market2:12 PM ET Wed, 22 May 2019Tim Draper, long time venture capitalist, joins CNBC’s Dierdre Bosa to discuss the IPO rush, bitcoin volatility and regulating Facebook.
Long time venture capitalist Tim Draper on bitcoin and volatility in the IPO market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22
Keywords: news, cnbc, companies, bitcoin, market, rush, draper, regulating, capitalist, tim, ipo, venture, long, volatility


Long time venture capitalist Tim Draper on bitcoin and volatility in the IPO market

Long time venture capitalist Tim Draper on bitcoin and volatility in the IPO market

2:12 PM ET Wed, 22 May 2019

Tim Draper, long time venture capitalist, joins CNBC’s Dierdre Bosa to discuss the IPO rush, bitcoin volatility and regulating Facebook.


Company: cnbc, Activity: cnbc, Date: 2019-05-22
Keywords: news, cnbc, companies, bitcoin, market, rush, draper, regulating, capitalist, tim, ipo, venture, long, volatility


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Pre-Brexit rush by manufacturers boosts UK economy in Q1

Year-on-year GDP growth picked up to 1.8 percent in early 2019 from 1.4 percent in the last three months of 2018, Britain’s Office for National Statistics said. This was its highest since the third quarter of 2017 and again in line with economists’ forecasts. “Manufacturers were clearing their order books before March 29,” an ONS statistician said, referring to the date when Britain had been due to leave the European Union. Stock-building had added 0.7 percentage points to GDP growth during the


Year-on-year GDP growth picked up to 1.8 percent in early 2019 from 1.4 percent in the last three months of 2018, Britain’s Office for National Statistics said. This was its highest since the third quarter of 2017 and again in line with economists’ forecasts. “Manufacturers were clearing their order books before March 29,” an ONS statistician said, referring to the date when Britain had been due to leave the European Union. Stock-building had added 0.7 percentage points to GDP growth during the
Pre-Brexit rush by manufacturers boosts UK economy in Q1 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: leon neal, getty images
Keywords: news, cnbc, companies, rush, economy, deal, growth, boosts, ons, manufacturers, early, months, evidence, prebrexit, gdp, leave, quarter, uk, q1, reported


Pre-Brexit rush by manufacturers boosts UK economy in Q1

Year-on-year GDP growth picked up to 1.8 percent in early 2019 from 1.4 percent in the last three months of 2018, Britain’s Office for National Statistics said. This was its highest since the third quarter of 2017 and again in line with economists’ forecasts.

“Manufacturers were clearing their order books before March 29,” an ONS statistician said, referring to the date when Britain had been due to leave the European Union.

“That’s been the driver for the last few months,” he added.

Previous private-sector business surveys had shown manufacturers reported building up stocks of goods in case the country left without a transition deal, which they feared could cause chaos at Britain’s borders.

However, the ONS said it had seen more limited evidence of this.

Stock-building had added 0.7 percentage points to GDP growth during the first quarter, but some sectors – such as motor trades, wholesalers and warehouses reported relatively little evidence of this.

Net trade took a record 2.2 percent off the quarterly rate of GDP growth, as businesses sucked in imports.

In the event, with just days to go before Britain was due to leave, Prime Minister Theresa May asked the EU for more time to negotiate a deal. Brexit has now been delayed until Oct. 31 unless there is an early agreement.


Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: leon neal, getty images
Keywords: news, cnbc, companies, rush, economy, deal, growth, boosts, ons, manufacturers, early, months, evidence, prebrexit, gdp, leave, quarter, uk, q1, reported


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Trump says he is in ‘no rush’ to complete US-China trade deal

U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations. “I think President Xi saw that I’m somebody that believes in walking when the deal is not done, and you know there’s always a chance it could happen and he probably wouldn’t want that,” Trump said. China has not made any public comment confirming Xi i


U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations. “I think President Xi saw that I’m somebody that believes in walking when the deal is not done, and you know there’s always a chance it could happen and he probably wouldn’t want that,” Trump said. China has not made any public comment confirming Xi i
Trump says he is in ‘no rush’ to complete US-China trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, completed, trade, meeting, uschina, summit, xi, president, property, deal, rush, complete, inperson, trump


Trump says he is in 'no rush' to complete US-China trade deal

U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations.

Trump and Chinese President Xi Jinping had been expected to hold a summit at the president’s Mar-a-Lago property in Florida later this month, but no date has been set for a meeting and no in-person talks between their trade teams have been held in more than two weeks.

The president, speaking to reporters at the White House, said he thought there was a good chance a deal would be made, in part because China wanted one after suffering from U.S. tariffs on its goods.

But he acknowledged Xi may be wary of coming to a summit without an agreement in hand after seeing Trump end a separate summit in Vietnam with North Korean leader Kim Jong Un without a peace deal.

“I think President Xi saw that I’m somebody that believes in walking when the deal is not done, and you know there’s always a chance it could happen and he probably wouldn’t want that,” Trump said.

China has not made any public comment confirming Xi is considering going to meet Trump in Florida or elsewhere.

The president, who likes to emphasize his own deal-making abilities, said an agreement to end a months-long trade war could be finished ahead of a presidential meeting or completed in-person with his counterpart.

“We could do it either way. We could have the deal completed and come and sign, or we could get the deal almost completed and negotiate some of the final points. I would prefer that,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, completed, trade, meeting, uschina, summit, xi, president, property, deal, rush, complete, inperson, trump


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On North Korea giving up nukes, Trump says again and again: ‘No rush’

U.S. President Donald Trump said Thursday that he’s not prioritizing North Korea quickly giving up its nuclear weapons in a brief statement before more talks with the pariah state’s autocratic leader, Kim Jong Un. Instead, Trump said he is pleased that there was no evidence North Korea had conducted nuclear or ballistic missile tests in more than a year. “I very much appreciate no testing of nuclear rockets, missiles, any of it — very much appreciate it.” “I am in no rush — just we don’t want th


U.S. President Donald Trump said Thursday that he’s not prioritizing North Korea quickly giving up its nuclear weapons in a brief statement before more talks with the pariah state’s autocratic leader, Kim Jong Un. Instead, Trump said he is pleased that there was no evidence North Korea had conducted nuclear or ballistic missile tests in more than a year. “I very much appreciate no testing of nuclear rockets, missiles, any of it — very much appreciate it.” “I am in no rush — just we don’t want th
On North Korea giving up nukes, Trump says again and again: ‘No rush’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: everett rosenfeld, saul loeb, afp, getty images, ray tang anadolu agency getty images, -steve okun, senior advisor at mclarty associates, -richard fenning, ceo of risk consultancy control risks
Keywords: news, cnbc, companies, trump, rush, yearspeed, north, nuclear, president, nukes, quickly, appreciate, testing, korea, weve, giving


On North Korea giving up nukes, Trump says again and again: 'No rush'

U.S. President Donald Trump said Thursday that he’s not prioritizing North Korea quickly giving up its nuclear weapons in a brief statement before more talks with the pariah state’s autocratic leader, Kim Jong Un.

Instead, Trump said he is pleased that there was no evidence North Korea had conducted nuclear or ballistic missile tests in more than a year.

“Speed is not that important to me,” the president said. “I very much appreciate no testing of nuclear rockets, missiles, any of it — very much appreciate it.”

“I am in no rush — just we don’t want the testing and we’ve developed something very special with respect to that,” Trump added.

That marked a step back from Trump’s claim last year that Pyongyang would begin relinquishing its nuclear capabilities “very, very quickly.” In fact, the president repeatedly emphasized Thursday morning that he was not looking to find a solution to North Korea’s nuclear threat by the end of this week’s summit in Hanoi, Vietnam.


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: everett rosenfeld, saul loeb, afp, getty images, ray tang anadolu agency getty images, -steve okun, senior advisor at mclarty associates, -richard fenning, ceo of risk consultancy control risks
Keywords: news, cnbc, companies, trump, rush, yearspeed, north, nuclear, president, nukes, quickly, appreciate, testing, korea, weve, giving


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Cramer: Don’t rush to buy this dip—there are legitimate reasons to sell

CNBC’s Jim Cramer suggests investors should hold on buying Thursday’s market dip because there are a number of causes for concern. We were due for a sell off and I doubt it will be finished after just one day.” Because American and Chinese officials are far from finalizing a trade deal, companies have been offering weak guidance, and economic slowdown in Europe is weighing on sentiment, Cramer explained. A trade deal before the tariffs on Chinese imports automatically go higher on March 1.” That


CNBC’s Jim Cramer suggests investors should hold on buying Thursday’s market dip because there are a number of causes for concern. We were due for a sell off and I doubt it will be finished after just one day.” Because American and Chinese officials are far from finalizing a trade deal, companies have been offering weak guidance, and economic slowdown in Europe is weighing on sentiment, Cramer explained. A trade deal before the tariffs on Chinese imports automatically go higher on March 1.” That
Cramer: Don’t rush to buy this dip—there are legitimate reasons to sell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: tyler clifford
Keywords: news, cnbc, companies, rush, buy, cramer, markets, oil, deal, money, sell, weak, reasons, trade, earnings, way, work, dipthere, legitimate, dont


Cramer: Don't rush to buy this dip—there are legitimate reasons to sell

CNBC’s Jim Cramer suggests investors should hold on buying Thursday’s market dip because there are a number of causes for concern.

“Whatever you do, I don’t want you to try to be a hero here. After today’s shellacking … you might be tempted to just start buying stocks in the weakness,” the “Mad Money” host said. “But given the market’s massive run-up — in a pretty short period of time, mind you — I think it’s a little too soon to put new money to work. We were due for a sell off and I doubt it will be finished after just one day.”

Why should Wall Street worry when the earnings season has been strong and the markets are up this year? Because American and Chinese officials are far from finalizing a trade deal, companies have been offering weak guidance, and economic slowdown in Europe is weighing on sentiment, Cramer explained.

Major U.S. indexes all shed more or less 1 percent in Thursday’s session.

“I don’t want you to get too bearish and I like the way the market came back from its lows, but we actually did some selling at the open today for my charitable trust … [because] the averages are still way, way above the levels where we wanted to do some buying originally,” Cramer said. “So there’s no reason to break discipline here.”

While the Dow Jones Industrial Average is up more than 7 percent this year, Cramer said the market has been bolstered by hopes that the U.S. and China could seal a trade agreement before a 90-day tariff truce ends and the Federal Reserve would pull back on interest rate hikes this year.

“Now one of those wishes came true. The Fed stopped tightening, at least for the moment and became more grounded in reality,” Cramer said. “But if this move was going to continue higher, we needed the other wish to come true, too. A trade deal before the tariffs on Chinese imports automatically go higher on March 1.”

The Dow fell as much as 300 points at one point Thursday after CNBC reported that President Donald Trump is unlikely to meet with his counterpart Xi Jinping to close on a deal. That could send markets lower because “the stock markets very much wants a deal,” Cramer said.

U.S. trade officials want China to stop taking technology that could be used to rival America as a “hegemonic superpower,” while Chinese officials may be prolonging the standoff because of divided government in Washington, he explained.

“Normally you would be able to buy the stocks that came down hard on a day like today, but we know that these groups — technology, aerospace, industrials — all have the most to lose from no trade deal,” he said. “Sure, their earnings tended to be very strong, but the future looms darker than the past if we can’t work something out with China pretty quickly.”

In general, the earnings season has been strong including good quarterly results from Facebook, Snap, Starbucks, and Capri Holdings, Cramer said. But guidance has been weak including companies such as Twitter, Tapestry, and FireEye among others, which is another reason why traders sold on Thursday, he said.

Cramer suggested investors could wait three days, then buy shares of Twitter.

As cybesecurity stocks have been “red-hot,” FireEye “shocked investors and me with its weaker outlook,” he continued. The stock finished down 12 percent Thursday.

In addition to U.S.-China relations and weak guidance, weakness in Europe is draining crude business, he said, explaining that Eurozone forecasts have caused oil to tumble and the trade issues have exacerbated the issue.

“When oil dropped more than a dollar in the morning, you know the bulls were in for a beatdown,” Cramer said. “Given that oil is at the top of the range, we might get another bushwhack tomorrow if oil gets closer to $50 tomorrow.”

The “Mad Money” host acknowledged that the merger between Suntrust and BB&T, as well as earnings from Chipotle and Masco, were positives, but not enough to satisfy traders.

“We have to own that it was a bad day for the bulls, and it’s pretty realistic to expect … a couple more sessions like this one until the facts get more positive,” Cramer said. “So until we either get lower prices or a brighter outlook, I think you should hold off putting any new money to work until we get to safer levels.”


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: tyler clifford
Keywords: news, cnbc, companies, rush, buy, cramer, markets, oil, deal, money, sell, weak, reasons, trade, earnings, way, work, dipthere, legitimate, dont


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Wall Street banks face hurdles as they rush to cover the suddenly booming marijuana industry

Both Goldman Sachs and Bank of America Merrill Lynch declined to comment about their plans for future marijuana-related research coverage. Wall Street is discovering a unique set of hurdles as it explores the possibilities in cannabis. Those hurdles are in the form of lending restrictions, disagreeing local laws and their own internal company firewalls as banks rush to cover that new and growing market. Other challenges for Wall Street include the flurry of federal regulations that currently det


Both Goldman Sachs and Bank of America Merrill Lynch declined to comment about their plans for future marijuana-related research coverage. Wall Street is discovering a unique set of hurdles as it explores the possibilities in cannabis. Those hurdles are in the form of lending restrictions, disagreeing local laws and their own internal company firewalls as banks rush to cover that new and growing market. Other challenges for Wall Street include the flurry of federal regulations that currently det
Wall Street banks face hurdles as they rush to cover the suddenly booming marijuana industry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, street, kushco, wall, sachs, hurdles, banks, suddenly, cover, booming, tilray, rush, industry, face, goldman, cannabis, business, marijuana


Wall Street banks face hurdles as they rush to cover the suddenly booming marijuana industry

Goldman Sachs star beverage and tobacco analyst Judy Hong was hoping to do some early research into the multibillion-dollar cannabis industry — that is, until she was stopped by the investment bank’s firewall blocking certain content.

Among the companies the 20-year Goldman veteran tried to review was KushCo Holdings, a California-based business that sells packaging, containers and other supportive products to the world’s largest cannabis producers. And though no part of KushCo’s business actually touches a marijuana or hemp plant, Hong found herself nonetheless barred from the company’s website, said a KushCo executive familiar with the matter.

Bank of America Merrill Lynch’s consumer analyst is also researching KushCo and the space, the person added. Both Goldman Sachs and Bank of America Merrill Lynch declined to comment about their plans for future marijuana-related research coverage. The KushCo executive said it’s fielded calls and met with representatives of both banks.

Wall Street is discovering a unique set of hurdles as it explores the possibilities in cannabis. Those hurdles are in the form of lending restrictions, disagreeing local laws and their own internal company firewalls as banks rush to cover that new and growing market. It is a market that could one day be worth $150 billion globally when including the different derivative products like CBD-infused beverages, according to Tilray CEO Brendan Kennedy. Tilray is a medical marijuana grower based in British Columbia.

Other challenges for Wall Street include the flurry of federal regulations that currently deter banks from working with legal dispensaries in the U.S. and mandate that banks and other financial firms file “suspicious activity reports” to help monitor money laundering. Others have brought the just-say-no attitude to Wall Street, steering clear of any services related to the marijuana business for fear of federal prosecution.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, street, kushco, wall, sachs, hurdles, banks, suddenly, cover, booming, tilray, rush, industry, face, goldman, cannabis, business, marijuana


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Here’s why esports can become a billion-dollar industry in 2019

In October, Cloud9 became the world’s most valuable esports team after raising $50 million in Series B funding, leading Forbes to peg the team with a $310 million valuation. The same report also estimated that a total of nine esports teams worldwide are worth at least $100 million. Last year, research firm Newzoo estimated that about 60 percent of the esports market’s revenue would come from sponsorships and advertising. One big trend some esports players are betting on is the continued entry of


In October, Cloud9 became the world’s most valuable esports team after raising $50 million in Series B funding, leading Forbes to peg the team with a $310 million valuation. The same report also estimated that a total of nine esports teams worldwide are worth at least $100 million. Last year, research firm Newzoo estimated that about 60 percent of the esports market’s revenue would come from sponsorships and advertising. One big trend some esports players are betting on is the continued entry of
Here’s why esports can become a billion-dollar industry in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-20  Authors: annie pei, source, getty images
Keywords: news, cnbc, companies, brands, rush, billiondollar, traditional, heres, 2019, team, space, teams, esports, partnerships, million, industry, aletaha


Here's why esports can become a billion-dollar industry in 2019

In October, Cloud9 became the world’s most valuable esports team after raising $50 million in Series B funding, leading Forbes to peg the team with a $310 million valuation. The same report also estimated that a total of nine esports teams worldwide are worth at least $100 million.

Those numbers have attracted attention from a number celebrities, including basketball legend Michael Jordan, who joined the ownership group for Team Liquid in October 2018.

Meanwhile, big-time investors like Mark Cuban have also taken stakes in esports-related entities for years, and traditional sports moguls have bought in. For instance Robert Kraft, who owns the New England Patriots, also paid $20 million to own the Boston-based team in Activision Blizzard’s Overwatch League prior to its launch last year.

Aside from the star-studded line of investors, 2018 saw a new rush of brands into the space. Last year, research firm Newzoo estimated that about 60 percent of the esports market’s revenue would come from sponsorships and advertising.

One big trend some esports players are betting on is the continued entry of non-endemic companies into the space. In 2018, a rush of non-gaming companies, from autos to telecom, struck deals and sponsored events, leagues and teams alongside more traditional tech and gaming-related names.

According to Naz Aletaha, head of esports partnerships at Riot Games, “our audience is predominantly digital first and that gives us different opportunities to engage in meaningful ways.”

Using Riot’s “League of Legends” competitive scene as an example, she recently told CNBC that “the scale that we’ve achieved globally by operating 13 leagues has created the perfect ecosystem for brands to get involved.”

These partnerships lead Aletaha to believe that some of the next big non-gaming brands to enter esports will be from three primary areas: Quick service restaurants, male grooming and apparel. All three stand to benefit from a space that is “not overly saturated yet” that also boasts a younger audience, Aletaha added.


Company: cnbc, Activity: cnbc, Date: 2019-01-20  Authors: annie pei, source, getty images
Keywords: news, cnbc, companies, brands, rush, billiondollar, traditional, heres, 2019, team, space, teams, esports, partnerships, million, industry, aletaha


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Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates

Volume was 11 percent lower compared with one year ago, when mortgage rates were 42 basis points lower. Still, it is also important to note that a jump in mortgage rates last January caused mortgage demand to drop, so the annual comparisons are now off a lower volume. They may also be eager to take advantage of the dip in mortgage rates. Both Wells Fargo and J.P. Morgan reported lower mortgage origination volume in the last quarter, according to company earnings releases Tuesday. Simply put, ban


Volume was 11 percent lower compared with one year ago, when mortgage rates were 42 basis points lower. Still, it is also important to note that a jump in mortgage rates last January caused mortgage demand to drop, so the annual comparisons are now off a lower volume. They may also be eager to take advantage of the dip in mortgage rates. Both Wells Fargo and J.P. Morgan reported lower mortgage origination volume in the last quarter, according to company earnings releases Tuesday. Simply put, ban
Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: diana olick, scott mlyn
Keywords: news, cnbc, companies, rush, applications, lower, 135, mortgage, rates, surge, borrowers, highest, market, advantage, level, spring, loans, volume, week


Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates

Mortgage demand continues to recover sharply, after ending last year in the basement.

Total mortgage application volume rose 13.5 percent last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

That is its highest level since February 2018 and came after a 23 percent jump the previous week. Volume was just 0.5 percent lower compared with the same week one year ago.

Refinance demand drove the gains, with those applications rising 19 percent for the week to the highest level since last March. Volume was 11 percent lower compared with one year ago, when mortgage rates were 42 basis points lower.

The drop in mortgage rates over the past two months has given new life to the refinance market. Still, it is also important to note that a jump in mortgage rates last January caused mortgage demand to drop, so the annual comparisons are now off a lower volume. Refinance volume is still historically low.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) remain unchanged at 4.74 percent, with points decreasing to 0.45 from 0.47 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The rate has fallen 20 basis points in the past four weeks.

“Uncertainty regarding the government shutdown, slowing global growth, Brexit, a more patient Fed, and a volatile stock market continued to keep rates from increasing,” said Mike Fratantoni, MBA’s chief economist. “The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we do expect to see a solid spring market.”

Mortgage applications to purchase a home also rebounded 9 percent for the week to the highest level since April of 2010. Purchase volume was 11 percent higher compared with the same week one year ago. Buyers may be jumping in before the start of the usually competitive spring season. They may also be eager to take advantage of the dip in mortgage rates. More inventory came onto the market at the start of the year, and that may also be adding to activity.

The refinance share of mortgage activity increased to its highest level since January 2018, 46.8 percent of total applications, from 45.8 percent the previous week, and the adjustable-rate mortgage (ARM) share of activity increased to its highest level since October 2014, 9.2 percent of total applications. The average loan size for refinance applications reached a survey high at $353,100.

“Borrowers with larger loans tend to be more responsive to a given drop in mortgage rates, and we are seeing that so far in 2019,” Fratantoni said. “Furthermore, borrowers with jumbo loans are also more apt to take adjustable-rate mortgages as opposed to fixed-rate loans. Thus, it is not surprising to see the ARM share at its highest level since 2014. These borrowers may also feel more confident taking an adjustable-rate mortgage given the expectation of a more patient Fed.”

Although it is just one week’s read, the jump in purchase demand bodes well for the start of the spring market, indicating strong demand. High home prices were sidelining buyers last spring and higher mortgage rates last fall only exacerbated the weakness. Both Wells Fargo and J.P. Morgan reported lower mortgage origination volume in the last quarter, according to company earnings releases Tuesday.

“Home Lending revenue was down 8 percent, driven by lower net reduction revenue in a low volume highly competitive environment,” J.P. Morgan CFO Marianne Lake said in a prepared statement to analysts.

Simply put, banks are making less money on lower mortgage volume and less profitable loans.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: diana olick, scott mlyn
Keywords: news, cnbc, companies, rush, applications, lower, 135, mortgage, rates, surge, borrowers, highest, market, advantage, level, spring, loans, volume, week


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Fed doesn’t seem in as much of a rush to raise interest rates as stocks plunge

In the past several days, the markets have become convinced Fed officials are intentionally signaling that they could pause from raising interest rates next year. Hill said New York Fed President John Williams comments Monday that the Fed was raising rates “somewhat” also sounded a bit more dovish. At the same time, investors are jumping into the safety of Treasurys, driving interest rates lower. Rissmiller has been forecasting the Fed will only be able to raise interest rates twice next year, a


In the past several days, the markets have become convinced Fed officials are intentionally signaling that they could pause from raising interest rates next year. Hill said New York Fed President John Williams comments Monday that the Fed was raising rates “somewhat” also sounded a bit more dovish. At the same time, investors are jumping into the safety of Treasurys, driving interest rates lower. Rissmiller has been forecasting the Fed will only be able to raise interest rates twice next year, a
Fed doesn’t seem in as much of a rush to raise interest rates as stocks plunge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: patti domm, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, rate, rates, fed, markets, rush, officials, raise, doesnt, stocks, economy, prices, hikes, interest, bit, plunge


Fed doesn't seem in as much of a rush to raise interest rates as stocks plunge

In the past several days, the markets have become convinced Fed officials are intentionally signaling that they could pause from raising interest rates next year.

The recent speeches from several officials have been interpreted as being more dovish, even if the officials haven’t strayed much from their core message — that the Fed is on a gradual rate hiking path, that the U.S. economy is in good shape, inflation is steady and the Fed remains dependent on economic data.

But the market also is interpreting a new tone in the words of these Fed officials, who seem to be more seriously looking beyond the strong U.S. economy to an environment where stock prices have been falling and credit spreads are widening.

Fed Chairman Jerome Powell, for instance, noted on Wednesday that there’s been “a gradual chipping away” at global growth and what happens internationally matters. The same point was made Friday by Fed Vice Chair Richard Clarida, who told CNBC that the global economy deserves attention, and it looks like it’s slowing.

“There’s a bit of a walk back in progress,” said Don Rissmiller, chief economist at Strategas Research. “I’m sure they’re looking at financial conditions.”

The market’s interpretation of the recent comments is in sharp contract to the response to Powell’s Oct. 3 commentthat the Fed is still a long way from neutral. That comment was interpreted to mean the Fed was confidently moving forward with the rate hikes it has already forecast for 2019, and possibly adding more.

Now, the markets still expect the Fed to go through with a rate hike at its December meeting, but the three more hikes anticipated for next year are in doubt.

Jon Hill, U.S. rate strategist at BMO, said since Nov. 9, the fed funds futures market has reduced its expectations for rate hikes next year to just 1.4 hikes from 2.2.

“”Clarida sounds a bit more dovish, but he didn’t say anything remarkable,” said Hill. “To price out almost an entire hike in a week just because [they] acknowledge overseas matters seems a bit too aggressive.”

Hill said New York Fed President John Williams comments Monday that the Fed was raising rates “somewhat” also sounded a bit more dovish. Williams added that it’s “really in the context of a very strong economy and obviously we’re not on a preset course,” according to a Bloomberg report.

Financial conditions are clearly worsening, with the S&P 500 down 7.5 percent since the end of September, and the spreads on corporate credit widening, meaning the market is pricing it at increasingly lower prices [and higher yields], relative to Treasurys. Prices move in the opposite direction of yields.

At the same time, investors are jumping into the safety of Treasurys, driving interest rates lower. The 10-year is now yielding 3.05 percent, the lowest since Oct. 3, the day Powell made his hawkish comments.

Rissmiller has been forecasting the Fed will only be able to raise interest rates twice next year, as some others also expect. He said the neutral rate, or the interest rate level where the Fed is no longer stimulating the economy or trying to slow it down, is probably closer to 2.5 percent. The Fed funds target range is currently at 2 percent to 2.25 percent.

“I just don’t see the rush. Why snatch defeat from the jaws of victory. They are succeeding here. They can remain in a rate hike cycle,” said Rissmiller.

But on the other extreme, Goldman Sachs economists expect the Fed to raise interest rates four times next year, and they note that inflation could jump more than expected.


Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: patti domm, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, rate, rates, fed, markets, rush, officials, raise, doesnt, stocks, economy, prices, hikes, interest, bit, plunge


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The US economy can handle rising interest rates: Investor

The US economy can handle rising interest rates: Investor6:29 PM ET Tue, 9 Oct 2018Brent Wilsey of Wilsey Asset Management says he is in “no rush to get into bonds” amid the rising rate environment in the U.S.


The US economy can handle rising interest rates: Investor6:29 PM ET Tue, 9 Oct 2018Brent Wilsey of Wilsey Asset Management says he is in “no rush to get into bonds” amid the rising rate environment in the U.S.
The US economy can handle rising interest rates: Investor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-09
Keywords: news, cnbc, companies, investor, economy, rush, rising, oct, rates, rate, investor629, interest, management, wilsey, handle


The US economy can handle rising interest rates: Investor

The US economy can handle rising interest rates: Investor

6:29 PM ET Tue, 9 Oct 2018

Brent Wilsey of Wilsey Asset Management says he is in “no rush to get into bonds” amid the rising rate environment in the U.S.


Company: cnbc, Activity: cnbc, Date: 2018-10-09
Keywords: news, cnbc, companies, investor, economy, rush, rising, oct, rates, rate, investor629, interest, management, wilsey, handle


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