Biden Heads to Michigan, Jamie Dimon's Warning, Sell-off in Bonds: 3 Things to Know

151,081 次觀看・2 個月前

President Joe Biden heads to Michigan to join striking UAW workers. He's not the only 2024 hopeful making the trip - Former President Donald Trump is expected to make an appearance Wednesday. Strikes continue at General Motors (GM), Ford (F) and Stellantis (STLA). Carnage in the bond market. The 10-year yield hit (TNX) its highest level since 2007 yesterday, lifting the dollar on its way up. The sell-off comes from investors spooked by the fed's 'higher for longer' message, who fear another interest rate hike is on the table before year's end. JP Morgan CEO Jamie Dimon (JPM) is warning that the u-s economy may not be prepared should the fed raise interest rates to 7 percent. The big bank leader told the Times of India, “going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%.”

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.