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The only reason to be bearish is there’s no reason to be bearish, Bank of America says
pressThe bank’s Global Fund Manager Survey, one of the longest-running polls of Wall Street investors, found that a majority of investors agree an economic recovery is at play. A record percentage of money managers also believes that global growth is at an all-time high. However, Bank of America noted that this high level of optimism […]
‘This is not inflation’: Economist says expectations are unanchored from reality
pressMarket expectations for U.S. inflation rates have reached their highest levels in a decade, driven by prospects of a large fiscal package, progress on vaccine rollouts and pent-up consumer demand. The yield on the benchmark U.S. 10-year Treasury note climbed above 1.3% for the first time since February 2020, while the 30-year bond also hit […]
Elon Musk says bitcoin seems high after surpassing $1 trillion market value
pressTesla CEO Elon Musk said Saturday that bitcoin prices “seem high” after the cryptocurrency surged to another record high this week. The price of bitcoin, the world’s most popular cryptocurrency, crossed a major milestone Friday after the market value reached more than $1 trillion, leaving some major backers surprised. Bitcoin was trading at under $54,000 per coin Friday […]