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Stocks fall in preamble to U.S. inflation report as Treasuries further invert sounding recession alarm

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The Treasury curve inversion deepened to levels last seen in 2007 amid fears that rate hikes will sink the economy. Read on

“The market is showing nervousness as to what this is going to look like,” said Patrick Kaser, portfolio manager at Brandywine Global. “There’s been talk about commodity prices coming down, but we’re not really seeing that flow through yet. We’re still expecting this number to come in pretty high.”Article content

The impacts of the U.S. currency surge will also be highly scrutinized during the earnings season. PepsiCo Inc., one of the first major industry players to report second-quarter results, said demand remained robust despite inflation — but highlighted foreign-exchange translation headwinds.Nicholas Colas, DataTrek Research

 

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