Jay Hatfield, founder, CEO and portfolio manager at Infrastructure Capital Advisors, joins BNN Bloomberg to discuss his outlook for stock markets during the sec
Traders have also started ramping up bets that the U.S. Federal Reserve will have to cut interest rates sooner than expected to sustain the U.S. economy. Yields on two-year Treasuries dropped seven basis points to 4.35 per cent. The yen rallied more than one per cent on bets the rate gap between Japan and the U.S. will shrink.
Still, the most dramatic moves have been in high-flying chipmakers, with investors taking profits after this year’s massive rally. STMicroelectronics NV and BE Semiconductor Industries NV both sank more than 10 per cent in European trading. Kering warned that profit will tumble in the second half of the year as luxury demand cools and the turnaround effort at its biggest brand sputters.
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