A panel of market observers from Informa Financial Intelligence see strong headwinds hitting an overly exuberant market.
Even as the economy appears to be picking up in the wake of Americans getting the COVID-19 vaccine and the Biden administration’s stimulus measures, the outlook for the market remains uncertain and headwinds abound.
A group of market observers from Informa Financial Intelligence last week discussed current market conditions, their predictions for inflation, and how advisors may want to think about rebalancing their clients portfolios.
Despite the soothing forecasts coming out of the Federal Reserve and from Biden s policymakers, there s a growing fear that all the stimulus spending will bring about a jump in inflation, said Cameron Brandt, director of research at EPFR.
Wall Street Trends To Open Lower
Asian shares finished lower, while European shares are trading on a negative trend.
AMC Entertainment (AMC), Beyond Meat (BYND), Dropbox (DBX), Expedia (EXPE), GoPro (GPRO), Live Nation (LYV), Peloton (PTON), Roku (ROKU), and Yelp (YELP) are among the companies releasing their quarterly results after the close of today s trading.
Pre-market trend of U.S. Futures Index suggest that Wall Street might open lower.
As of 7.30 am ET, the Dow futures were down 168.00 points, the S&P 500 futures were declining 35.00 points and the Nasdaq 100 futures were sliding 189.25 points.
The U.S. major averages all finished Monday lower. The Nasdaq plunged 350.38 points or 2.6 percent to 13,401.86, while the S&P 500 slid 44.17 points or 1 percent to 4,188.43 and the S&P 500 edged down 34.94 points or 0.1 percent to 34,742.82.
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On April 6, 2021, New York Governor Andrew Cuomo signed into law the New York State Legislature’s Senate Bill 297B/Assembly Bill 164B (the New York LIBOR Legislation)
1, strengthening the groundwork for the forthcoming transition from US dollar LIBOR (formally known as the London Interbank Offered Rate) as the benchmark interest rate. The New York LIBOR Legislation is primarily intended for “tough legacy” contracts, securities and instruments governed by New York law that either lack fallback provisions or include ineffective fallback provisions in the event US dollar LIBOR is no longer published or representative. The New York LIBOR Legislation applies to tough legacy contracts that do not mature until after December 31, 2021 (in the case of the one-week and two-month US dollar LIBOR tenors), or June 30, 2023 (in the case of the overnight, one-month, two-month, six-month or 12-month US dollar LIBOR tenors)
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May 6 (Reuters) - A group of banks and investors overseeing
the shift of trillions of dollars to the new benchmark U.S.
interest rate SOFR on Thursday published a list of indicators
that it wants to see progress in so it can recommend a
forward-looking SOFR rate.
Investors are facing a year-end deadline to stop basing new
loans and trades on Libor, the London Interbank Offered Rate,
which is being phased out due to concerns about the amount of
derivatives using the rate, which in many cases is based on
assumptions about their borrowing costs and not actual trades.
U.S. Department Of The Treasury: Quarterly Refunding Statement Of Deputy Assistant Secretary For Federal Finance Brian Smith Date
05/05/2021
The U.S. Department of the Treasury is offering $126 billion of Treasury securities to refund approximately $47.7 billion of privately-held Treasury notes and bonds maturing on May 15, 2021. This issuance will raise new cash of approximately $78.3 billion. The securities are:
- A 3-year note in the amount of $58 billion, maturing May 15, 2024;
- A 10-year note in the amount of $41 billion, maturing May 15, 2031; and
- A 30-year bond in the amount of $27 billion, maturing May 15, 2051.
The 3-year note will be auctioned on a yield basis at 1:00 p.m. EDT on Tuesday, May 11, 2021. The 10-year note will be auctioned on a yield basis at 1:00 p.m. EDT on Wednesday, May 12, 2021. The 30-year bond will be auctioned on a yield basis at 1:00 p.m. EDT on Thursday, May 13, 2021. All of these auctions will settl