Trump says Fed ‘boneheads’ should cut interest rates to zero ‘or less,’ US should refinance debt

President Donald Trump on Wednesday continued his verbal assault on the Federal Reserve, who he blames for slowing the economy, tweeting that the central bank should cut interest rates to zero or even set negative interest rates. “The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. This isn’t a mortgage, this is U.S. Treasury debt. I think it would be incredibly disruptive to financial markets, and interest rates would ultimate


President Donald Trump on Wednesday continued his verbal assault on the Federal Reserve, who he blames for slowing the economy, tweeting that the central bank should cut interest rates to zero or even set negative interest rates. “The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. This isn’t a mortgage, this is U.S. Treasury debt. I think it would be incredibly disruptive to financial markets, and interest rates would ultimate
Trump says Fed ‘boneheads’ should cut interest rates to zero ‘or less,’ US should refinance debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: jeff cox john melloy, jeff cox, john melloy
Keywords: news, cnbc, companies, fed, debt, zero, rates, interest, economy, trump, treasury, refinance, boneheads, united, cut, reserve


Trump says Fed 'boneheads' should cut interest rates to zero 'or less,' US should refinance debt

This is a developing story. Check back for updates.

President Donald Trump on Wednesday continued his verbal assault on the Federal Reserve, who he blames for slowing the economy, tweeting that the central bank should cut interest rates to zero or even set negative interest rates. The president also called Fed officials “boneheads” in the tweet.

“The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term,” he said.

The president also made a new suggestion not seen in some of his past attacks on the Fed, saying that the country should refinance its debt load.

“It’s not viable and could be a significant problem for investors, financial markets and ultimately the economy,” said Mark Zandi, chief economist at Moody’s Analytics. “The debt is not prepayable. There’s a contractual relationship the Treasury has with investors. This isn’t a mortgage, this is U.S. Treasury debt. I think it would be incredibly disruptive to financial markets, and interest rates would ultimately rise, not fall.”

It’s unclear how such an idea would work. The Treasury Department likely would have to be involved, and there have been calls recently to issue longer-term debt, such as a 50- or 100-year Treasury.

“From a theoretical standpoint, obviously it would be wonderful for the United States government over a period of year if it were to lengthen the maturities on debt that would have rates below 1%,” said banking analyst Dick Bove at Odeon Capital Group. “It would certainly be beneficial to the United States government. Whether it would be beneficial to the United States economy is an open question.”

Cutting rates to zero or below would cheapen debt costs but also make the U.S. a less desirable spot for capital flow as the ability to generate yield would disappear.

Trump had made a suggestion during the 2016 presidential campaign that would have involved renegotiating the debt. That idea then was widely dismissed as a move the actually could drive Treasury yields higher, jeopardize the nation’s standing among its creditors and pose a threat to the U.S. dollar as the world’s reserve currency.

During a CNBC interview in May 2016, Trump said that if the economy turned south, he would try to get creditors to accept partial payment on U.S. debt.

“I would borrow, knowing that if the economy crashed, you could make a deal,” he said then.

His idea was that the U.S. would pay less than face value on the Treasury debt it issues to cover the burgeoning budget deficit. However, doing so would only increase the costs of issuing the debt as creditors would demand higher interest payments.

Trump has long bemoaned Fed policy, saying the central bank should get more in line with the near-zero rates employed by the nation’s global competitors. The Fed currently targets its benchmark overnight lending rate in a range between 2% and 2.25%, the highest of any G-7 nation.

In previous tweets, he has repeatedly ripped his own appointee, Fed Chairman Jerome Powell, as being out of step with the economic needs in the U.S.

“The USA should always be paying the the lowest rate. No Inflation! It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of “Boneheads,” Trump said in Wednesday’s tweets.


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: jeff cox john melloy, jeff cox, john melloy
Keywords: news, cnbc, companies, fed, debt, zero, rates, interest, economy, trump, treasury, refinance, boneheads, united, cut, reserve


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Jamie Dimon says JP Morgan is preparing for the risk of zero rates in the US

Jamie Dimon said that while he doubts the wave of negative interest rates in countries around the world will reach the U.S., he’s preparing J.P. Morgan Chase for the possibility anyway. “Obviously, you’ve got to worry about the long term effect of those interest rates,” Dimon said. Dimon, chairman and CEO of J.P. Morgan, admitted that the drop in U.S. interest rates surprised him. Last year, he said that rates should rise and that the 10-year Treasury yield could reach 4%. The bank can trim cost


Jamie Dimon said that while he doubts the wave of negative interest rates in countries around the world will reach the U.S., he’s preparing J.P. Morgan Chase for the possibility anyway. “Obviously, you’ve got to worry about the long term effect of those interest rates,” Dimon said. Dimon, chairman and CEO of J.P. Morgan, admitted that the drop in U.S. interest rates surprised him. Last year, he said that rates should rise and that the 10-year Treasury yield could reach 4%. The bank can trim cost
Jamie Dimon says JP Morgan is preparing for the risk of zero rates in the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: hugh son
Keywords: news, cnbc, companies, morgan, risk, businesses, reach, zero, rates, preparing, jamie, negative, dimon, interest, countries, yield


Jamie Dimon says JP Morgan is preparing for the risk of zero rates in the US

Jamie Dimon said that while he doubts the wave of negative interest rates in countries around the world will reach the U.S., he’s preparing J.P. Morgan Chase for the possibility anyway.

“I don’t think we’ll have zero rates in the U.S., but we’re thinking about how to be prepared for it, just in the normal course of risk management,” Dimon said Tuesday at a conference in New York.

“Obviously, you’ve got to worry about the long term effect of those interest rates,” Dimon said. “But it’s hard. There are businesses it doesn’t affect at all. And there are businesses where it just sucks into your margin and there’s very little you can do about it.”

Dimon, chairman and CEO of J.P. Morgan, admitted that the drop in U.S. interest rates surprised him. Last year, he said that rates should rise and that the 10-year Treasury yield could reach 4%.

The 10-year yield was at 1.69% on Tuesday, down from 2.68% to start the year. It fell as low as 1.44% last month as investors rushed into Treasuries on fears of a global economic slowdown and as the Federal Reserve cut rates. Benchmark bonds in major countries like Germany are trading with negative yields.

The bank can trim costs and charge clients more account fees to make up for squeezed margins as rates fall, Dimon said.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: hugh son
Keywords: news, cnbc, companies, morgan, risk, businesses, reach, zero, rates, preparing, jamie, negative, dimon, interest, countries, yield


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Apple fires back at Google report over iPhone security flaws

Apple on Friday responded to a Google report that said malicious websites could exploit Apple security flaws to hack iPhones and steal personal data, including text messages, photos and contacts. “First, the sophisticated attack was narrowly focused, not a broad-based exploit of iPhones ‘en masse’ as described,” Apple said in the statement. Apple said on Friday that the Google post creates the “false impression of ‘mass exploitation.'” The exploits were published by Google Project Zero, an elite


Apple on Friday responded to a Google report that said malicious websites could exploit Apple security flaws to hack iPhones and steal personal data, including text messages, photos and contacts. “First, the sophisticated attack was narrowly focused, not a broad-based exploit of iPhones ‘en masse’ as described,” Apple said in the statement. Apple said on Friday that the Google post creates the “false impression of ‘mass exploitation.'” The exploits were published by Google Project Zero, an elite
Apple fires back at Google report over iPhone security flaws Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: kif leswing
Keywords: news, cnbc, companies, zero, vulnerabilities, statement, iphone, apple, uighurs, attacks, flaws, google, security, fires, report, websites


Apple fires back at Google report over iPhone security flaws

Apple on Friday responded to a Google report that said malicious websites could exploit Apple security flaws to hack iPhones and steal personal data, including text messages, photos and contacts.

The report, posted online late last month, said a series of websites had exploited security holes in iPhone software that existed over a series of two years, but the report did not identify the nature of the websites.

On Friday, Apple said in a sharply worded statement that the attacks identified by Google were through websites targeted toward Uighurs, a Muslim ethnic minority in China, implying that the websites were not a serious threat to Americans or most people in other parts of the world. The United Nations has accused China of human rights abuses toward the Uighurs, which China denies.

“First, the sophisticated attack was narrowly focused, not a broad-based exploit of iPhones ‘en masse’ as described,” Apple said in the statement. “The attack affected fewer than a dozen websites that focus on content related to the Uighur community.”

Apple’s statement confirmed the vulnerabilities while also challenging Google’s framing of the exploits. Apple said on Friday that the Google post creates the “false impression of ‘mass exploitation.'”

Apple also challenged Google’s claims that the attacks were operational for years and said the flaws mentioned by Google were fixed in February, 10 days after it learned of the exploits.

“Second, all evidence indicates that these website attacks were only operational for a brief period, roughly two months, not ‘two years’ as Google implies,” Apple said in the statement.

“We stand by our in-depth research which was written to focus on the technical aspects of these vulnerabilities,” a Google spokesman said in a statement. “We will continue to work with Apple and other leading companies to help keep people safe online.”

The exploits were published by Google Project Zero, an elite bug-finding team that finds flaws in software from major companies. After finding a flaw, the team informs the company and gives it a time limit to fix the critical bugs, which are known as “zero day” vulnerabilities. The stated mission is to make all software harder to hack.

However, the report also doubled as a way for Google to publicly needle Apple’s security and privacy policies, which the iPhone maker has increasingly leaned on as a major marketing tool and a way to differentiate its products from Android.

The Project Zero post did not mention any attacks on Android, which is used by more people than Apple’s iOS. Security firm Volexity said earlier this week that Android malware is used in targeted attacks on Uighurs as well.

Apple’s full statement is on its website.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: kif leswing
Keywords: news, cnbc, companies, zero, vulnerabilities, statement, iphone, apple, uighurs, attacks, flaws, google, security, fires, report, websites


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Facebook considers hiding ‘like’ counts

Facebook could soon follow in the footsteps of Instagram by hiding public-facing “like” counts. All other users will be able to see if a friend of theirs liked it, but not a full list of users who liked the post. Facebook confirmed to CNBC it is considering a test to hide like counts, but the company didn’t say when it plans to begin public testing. Experts have noted that the removal of public-facing likes could have wide-ranging impacts on influencer marketing, which thrives on Instagram. It c


Facebook could soon follow in the footsteps of Instagram by hiding public-facing “like” counts. All other users will be able to see if a friend of theirs liked it, but not a full list of users who liked the post. Facebook confirmed to CNBC it is considering a test to hide like counts, but the company didn’t say when it plans to begin public testing. Experts have noted that the removal of public-facing likes could have wide-ranging impacts on influencer marketing, which thrives on Instagram. It c
Facebook considers hiding ‘like’ counts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: annie palmer
Keywords: news, cnbc, companies, counts, liked, publicfacing, likes, zero, instagram, hiding, facebook, users, influencer, mosseri, hide, considers, test


Facebook considers hiding 'like' counts

Facebook could soon follow in the footsteps of Instagram by hiding public-facing “like” counts.

The new feature, which was first spotted by coder Jane Manchun Wong, would hide the number of likes on a particular post from everyone but the original poster. All other users will be able to see if a friend of theirs liked it, but not a full list of users who liked the post.

Facebook confirmed to CNBC it is considering a test to hide like counts, but the company didn’t say when it plans to begin public testing.

In May, Facebook-owned Instagram launched a test of its “like” ban in Canada before rolling it out to Australia, New Zealand, Ireland, Italy, Brazil and Japan in July. Head of Instagram Adam Mosseri characterized the move as a way to make a “less pressurized environment” on the app, as many users often zero in on the app’s metrics, which can cause anxiety.

“We don’t want Instagram to feel like a competition,” Mosseri said in April.

Experts have noted that the removal of public-facing likes could have wide-ranging impacts on influencer marketing, which thrives on Instagram. It could lead to higher quality influencer content, as well as push users to consume more video on the platform.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: annie palmer
Keywords: news, cnbc, companies, counts, liked, publicfacing, likes, zero, instagram, hiding, facebook, users, influencer, mosseri, hide, considers, test


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Google’s report on massive iPhone security flaw doubles as dig against Apple’s privacy stance

Google released a compilation of in-depth research on vulnerabilities in Apple’s operating system Thursday night. The research is interesting and comprehensive, but the impact of the flaws on most iPhone users may not be huge. Also, Google is using the compiled research to publicly needle Apple, following Apple’s campaign to differentiate its products on privacy and security. This is not one “bug,” but a series of related flaws or problems compiled together in one place by Google’s Project Zero.


Google released a compilation of in-depth research on vulnerabilities in Apple’s operating system Thursday night. The research is interesting and comprehensive, but the impact of the flaws on most iPhone users may not be huge. Also, Google is using the compiled research to publicly needle Apple, following Apple’s campaign to differentiate its products on privacy and security. This is not one “bug,” but a series of related flaws or problems compiled together in one place by Google’s Project Zero.
Google’s report on massive iPhone security flaw doubles as dig against Apple’s privacy stance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: kate fazzini
Keywords: news, cnbc, companies, vulnerabilities, zero, report, googles, iphone, users, security, doubles, research, massive, flaw, stance, used, vulnerability, dig, unknown, flaws, privacy


Google's report on massive iPhone security flaw doubles as dig against Apple's privacy stance

Google released a compilation of in-depth research on vulnerabilities in Apple’s operating system Thursday night.

The research is interesting and comprehensive, but the impact of the flaws on most iPhone users may not be huge. Also, Google is using the compiled research to publicly needle Apple, following Apple’s campaign to differentiate its products on privacy and security.

Here are some top takeaways from the report.

This is not one “bug,” but a series of related flaws or problems compiled together in one place by Google’s Project Zero. The release involved several in-depth studies Google’s Project Zero researchers have conducted over the years. In many cases, the bugs discovered were reported to Apple and fixed with subsequent iOS releases.

Most of the vulnerabilities have already been reported. In one case, a partner researcher from 360 Security, a mobile security application company, earned $200,000 in a November 2018 public hacking competition competition for discovering the previously unknown flaw.

Project Zero is Google’s test ground for finding so-called “zero-day exploits” in operating systems, software and hardware. “Zero day” is a reference to the number of days the public has had to use a known patch to a previously unknown vulnerability, so when a vulnerability is newly discovered, it is considered “day zero” of being able to fix it.

The flaws typically start, according to the research, with a targeted “watering hole” attack. In this type of attack, a hacker compromises a single website that is expected to be popular to a specific group of people that the hacker is targeting. Simply visiting the site infects the user’s device with malicious code that can be used for a variety of purposes. In this case, it was used to monitor what a user does on their iPhone.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: kate fazzini
Keywords: news, cnbc, companies, vulnerabilities, zero, report, googles, iphone, users, security, doubles, research, massive, flaw, stance, used, vulnerability, dig, unknown, flaws, privacy


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Kyle Bass says US interest rates will follow the rest of the world to zero — ‘This is insane’

Central banks are just getting started with monetary easing, hedge fund manager Kyle Bass said, predicting U.S. interest rates will keep falling and follow global interest rates all the way down to zero. All the money is going to come here,” Bass, founder and chief investment officer of Hayman Capital Management, told CNBC’s David Faber on Tuesday. Bass’ comments come as several central banks around the world have implemented stimulative policies to the point where around $15 trillion of global


Central banks are just getting started with monetary easing, hedge fund manager Kyle Bass said, predicting U.S. interest rates will keep falling and follow global interest rates all the way down to zero. All the money is going to come here,” Bass, founder and chief investment officer of Hayman Capital Management, told CNBC’s David Faber on Tuesday. Bass’ comments come as several central banks around the world have implemented stimulative policies to the point where around $15 trillion of global
Kyle Bass says US interest rates will follow the rest of the world to zero — ‘This is insane’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: fred imbert
Keywords: news, cnbc, companies, global, yields, zero, follow, rest, rates, insane, stimulative, kyle, bass, interest, going, central, world, rate, tool


Kyle Bass says US interest rates will follow the rest of the world to zero — 'This is insane'

Central banks are just getting started with monetary easing, hedge fund manager Kyle Bass said, predicting U.S. interest rates will keep falling and follow global interest rates all the way down to zero.

“We’re the only country that has an integer in front of our bond yields. We have 90% of the world’s investment-grade debt. We actually have rule of law and we have a decent economy. All the money is going to come here,” Bass, founder and chief investment officer of Hayman Capital Management, told CNBC’s David Faber on Tuesday.

Bass’ comments come as several central banks around the world have implemented stimulative policies to the point where around $15 trillion of global debt trades with a negative rate. Germany and France’s respective 10-year yields are in negative territory along with Japan’s benchmark rate. China has also implemented stimulative measures to mitigate slowing economic growth.

“This is insane. The Japanese are going to keep going. The Chinese print money like it’s a national pastime today. Europe is going to restart QE,” Bass said. “QE” refers to quantitative easing, a monetary stimulus tool used by central banks.

In the U.S., the Federal Reserve cut interest rates by 25 basis points last month, citing “global developments” and “muted inflation.” Market expectations for lower rates in September are also at 100%, according to the CME Group’s FedWatch tool.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: fred imbert
Keywords: news, cnbc, companies, global, yields, zero, follow, rest, rates, insane, stimulative, kyle, bass, interest, going, central, world, rate, tool


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Greenspan says ‘there is no barrier’ to negative yields in the US

Former Federal Reserve Chairman Alan Greenspan said nothing is stopping the U.S. from getting sucked into the global trend of negative yielding debt, Bloomberg reported Tuesday. “There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,” Greenspan said in a phone interview. “There is no barrier for U.S. Treasury yields going below zero. With global central banks engaging in unprecedented monetary easing, a record $15 trillion of governmen


Former Federal Reserve Chairman Alan Greenspan said nothing is stopping the U.S. from getting sucked into the global trend of negative yielding debt, Bloomberg reported Tuesday. “There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,” Greenspan said in a phone interview. “There is no barrier for U.S. Treasury yields going below zero. With global central banks engaging in unprecedented monetary easing, a record $15 trillion of governmen
Greenspan says ‘there is no barrier’ to negative yields in the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, longterm, yields, negative, treasury, getting, zero, yielding, barrier, going, global, greenspan


Greenspan says 'there is no barrier' to negative yields in the US

Former Federal Reserve Chairman Alan Greenspan said nothing is stopping the U.S. from getting sucked into the global trend of negative yielding debt, Bloomberg reported Tuesday.

“There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,” Greenspan said in a phone interview. “There is no barrier for U.S. Treasury yields going below zero. Zero has no meaning, beside being a certain level.”

With global central banks engaging in unprecedented monetary easing, a record $15 trillion of government bonds worldwide now trade at negative yields. As uncertainty reigns, investors are looking for a safe haven for their money, even if it means getting back less than they gave.

“Why people continue to buy long-term Treasurys at such low yields may be also due to forces having altered people’s time preferences,” Greenspan said. “But there is hundreds of years of history showing the long-term stability in time preference, so these changes won’t be forever.”


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, longterm, yields, negative, treasury, getting, zero, yielding, barrier, going, global, greenspan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Wall Street sees even more Fed rate cuts ahead with Morgan Stanley predicting a return to zero

“Slower growth and rising risks will likely impel the Fed to cut rates further,” UBS economist Seth Carpenter said in a report for clients. That jibes with current pricing in the futures market which sees the funds rate around 1.12% by the end of next year. In their most recent projections in June, they indicated the longer-run funds rate to be at 2.5%, or higher than the current target range of 2% to 2.25%. Morgan Stanley: Back to zeroThe cut in September, he said, likely would be framed as ano


“Slower growth and rising risks will likely impel the Fed to cut rates further,” UBS economist Seth Carpenter said in a report for clients. That jibes with current pricing in the futures market which sees the funds rate around 1.12% by the end of next year. In their most recent projections in June, they indicated the longer-run funds rate to be at 2.5%, or higher than the current target range of 2% to 2.25%. Morgan Stanley: Back to zeroThe cut in September, he said, likely would be framed as ano
Wall Street sees even more Fed rate cuts ahead with Morgan Stanley predicting a return to zero Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: jeff cox
Keywords: news, cnbc, companies, predicting, street, wall, cut, trade, morgan, stanley, rate, sees, rates, taking, funds, return, fed, zero, tariffs


Wall Street sees even more Fed rate cuts ahead with Morgan Stanley predicting a return to zero

As trade tensions escalate and economic indicators weaken, Wall Street is beginning to anticipate more aggressive interest rate cuts from the Federal Reserve, with at least one forecast seeing a return to near zero. Economists now see the likelihood of three quarter-point reductions before the end of the year, along with multiple moves in 2020 until it becomes clear that the U.S. central bank has staved off a recession. The anticipation comes as Goldman Sachs just announced that it reduced its GDP projections by 0.2 percentage point and Bank of America Merrill Lynch said it sees increasing chances of a recession in the next 12 months. Other forecasters on the Street are joining the calls for weakening conditions that prompt the Fed to take a sharper knife to rates than officials indicated at the July meeting, which saw the first rate reduction in 11 years.

“Slower growth and rising risks will likely impel the Fed to cut rates further,” UBS economist Seth Carpenter said in a report for clients. “Although we saw little support from the [Federal Open Market] Committee for further cuts at the July meeting, trade developments should provide enough justification to cut in” September. Carpenter sees another cut in December then one final reduction in March 2020 for a full cycle of 100 basis points lower, taking the Fed’s benchmark funds rate down to a range of 1% to 1.25%. That jibes with current pricing in the futures market which sees the funds rate around 1.12% by the end of next year. The projection, though, is still a far cry from where committee members anticipate rates heading. In their most recent projections in June, they indicated the longer-run funds rate to be at 2.5%, or higher than the current target range of 2% to 2.25%. However, that forecast came before July’s rate cut and, perhaps more importantly, a day before President Donald Trump’s announcement that he intends to levy tariffs on the remaining $300 billion or so of Chinese imports not already targeted. “Trump’s announcement … that tariffs on the final tranche of Chinese imports would be implemented September 1 has changed the outlook,” Carpenter said. “The new tariffs will slow growth. We anticipate the Fed eases policy further because of the slowdown and their fears of increased uncertainty.”

Morgan Stanley: Back to zero

The cut in September, he said, likely would be framed as another insurance policy against future uncertainty. By December, though, the easing would be in response to data showing material weakness in the economy. Morgan Stanley anticipates successive cuts at the September and October FOMC meetings and an even steeper path ahead, with four more rate moves in 2020 taking the funds rate close to zero, or where it was during the financial crisis and stayed for seven years. Strategist Mark Cabana of BofAML also recently told CNBC that zero rates could come if trade tensions keeping rising. “Taking a walk through Chair Powell’s checklist of factors the FOMC will be looking at when deliberating policy adjustments going forward, it seems to us there is already a clear need to cut rates further,” Ellen Zentner, a Morgan Stanley economist, said in a note, citing a reduction in hours worked for July, typically a precursor to layoffs.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: jeff cox
Keywords: news, cnbc, companies, predicting, street, wall, cut, trade, morgan, stanley, rate, sees, rates, taking, funds, return, fed, zero, tariffs


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s the level where Guggenheim’s Minerd sees the 10-year yield ending its decline for now

Guggenheim’s Scott Minerd said the sharp decline in the benchmark 10-year yield could continue to the 1.4% level before correcting. The 10-year yield, which influences mortgages and other loans, has plunged in the past week, from 2.07 before the Fed’s rate cut a week ago, to as low as 1.59% Wednesday morning. I can see the 10-year getting down to 1.4 before we correct,” said Minerd, global CIO at Guggenheim on CNBC’s The Exchange. The Federal Reserve has shown us that they are on a path to do an


Guggenheim’s Scott Minerd said the sharp decline in the benchmark 10-year yield could continue to the 1.4% level before correcting. The 10-year yield, which influences mortgages and other loans, has plunged in the past week, from 2.07 before the Fed’s rate cut a week ago, to as low as 1.59% Wednesday morning. I can see the 10-year getting down to 1.4 before we correct,” said Minerd, global CIO at Guggenheim on CNBC’s The Exchange. The Federal Reserve has shown us that they are on a path to do an
Here’s the level where Guggenheim’s Minerd sees the 10-year yield ending its decline for now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: patti domm
Keywords: news, cnbc, companies, going, yields, guggenheims, economy, minerd, decline, interest, week, heres, yield, negative, ending, 10year, level, sees, zero, central


Here's the level where Guggenheim's Minerd sees the 10-year yield ending its decline for now

Guggenheim’s Scott Minerd said the sharp decline in the benchmark 10-year yield could continue to the 1.4% level before correcting.

The 10-year yield, which influences mortgages and other loans, has plunged in the past week, from 2.07 before the Fed’s rate cut a week ago, to as low as 1.59% Wednesday morning.

“Technically, we’re getting to an exhausted level. I can see the 10-year getting down to 1.4 before we correct,” said Minerd, global CIO at Guggenheim on CNBC’s The Exchange. The 10-year was at 1.66% Wednesday afternoon, still well above its all time low near 1.32%, reached during the initial reaction to the U.K.’s Brexit vote in July, 2016.

Minerd repeated his view that U.S. interest rates could reach zero or even turn negative. “I do think ultimately by the time we get to the next recession, zero is definitely in the cards and probably negative yields,” he said, noting European and Japanese yields have been negative.

The Fed cannot right the economy by itself, and needs fiscal stimulus to break the economy out of its rut, he said.

“I think data dependence went out the window. The Federal Reserve has shown us that they are on a path to do anything they have to do to keep the economy going,” he said.

Minerd said that ultimately, there will be a recession and that will push the Fed. “”The Federal Reserve is the only game in town. They are going to do whatever they have to do, including negative interest rates, to keep us going,” he said.

The sharp drop in yields Wednesday started with rate cuts overnight by central banks in New Zealand, Thailand and India, the latest in a global race to reduce interest rates.

Minerd said he was having a hypothetical discussion with his investment committee about what other moves central banks could take. For instance, what if the European Central Bank bought $50 billion in gold to drive its currency lower, which would normally be frowned on and draw attention.

“:This is a crisis. Let’s face it. The rule book of how things are done and how they’re analyzed we can just throw out,” he said. “Everybody is doing whatever they have to do to survive. I don’t rule out anything right now.”


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: patti domm
Keywords: news, cnbc, companies, going, yields, guggenheims, economy, minerd, decline, interest, week, heres, yield, negative, ending, 10year, level, sees, zero, central


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Data breaches like Capital One show the need for ‘zero trust,’ says CEO of cloud firm Akamai

Akamai Technologies CEO Tom Leighton told CNBC on Wednesday there’s more need than ever for what he calls “zero trust” solutions for enterprise cloud security. “It speaks about the need for zero trust architectures for enterprise security.” Akamai offers cloud security services, in addition to its traditional business of speeding up media content delivery through the web. The CEO explained that traditional models for companies are to have a firewalls around their cloud data, but once authenticat


Akamai Technologies CEO Tom Leighton told CNBC on Wednesday there’s more need than ever for what he calls “zero trust” solutions for enterprise cloud security. “It speaks about the need for zero trust architectures for enterprise security.” Akamai offers cloud security services, in addition to its traditional business of speeding up media content delivery through the web. The CEO explained that traditional models for companies are to have a firewalls around their cloud data, but once authenticat
Data breaches like Capital One show the need for ‘zero trust,’ says CEO of cloud firm Akamai Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: jasmine kim
Keywords: news, cnbc, companies, cloud, breaches, data, akamai, leighton, revenue, zero, capital, enterprise, need, services, ceo, youve, firm, trust, traditional


Data breaches like Capital One show the need for 'zero trust,' says CEO of cloud firm Akamai

Akamai Technologies CEO Tom Leighton told CNBC on Wednesday there’s more need than ever for what he calls “zero trust” solutions for enterprise cloud security.

“Big entities [are] out there trying to cause harm. You’ve got nation states, organized crime operating on a massive scale,” said Leighton on “Squawk Alley. ” “It is hard today for an enterprise to keep up with that.”

Leighton addressed the Capital One breach, which was revealed this week, involving the exposure of more than 100 million customer records. “It speaks about the need for zero trust architectures for enterprise security.”

Akamai offers cloud security services, in addition to its traditional business of speeding up media content delivery through the web.

The CEO explained that traditional models for companies are to have a firewalls around their cloud data, but once authentication happens users are free to roam. For example, he said, “It’s easy to get malware on employee devices and they bring them inside the perimeter and then you’ve got a big problem.” Akamai aims to address those issues, he added.

Leighton spoke to CNBC a day after Akamai reported second-quarter earnings and revenue that beat analyst estimates. The cloud services provider’s revenue rose 6.4% to $705 million. The company also reported an adjusted $1.07 per-share profit.

Meanwhile, Akamai’s content delivery network has surged as more people are connecting online and streaming media. “We’re seeing a very large increase in video traffic on our platform and it could be that it increases more next year as you get more OTT services coming online,” said Leighton. OTT refers to over-the-top offerings over the internet instead of cable TV and satellites.


Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: jasmine kim
Keywords: news, cnbc, companies, cloud, breaches, data, akamai, leighton, revenue, zero, capital, enterprise, need, services, ceo, youve, firm, trust, traditional


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post