Oil breaks US$100, Wall Street retreats and bond yields rise, inflation is becoming the market’s biggest risk again Global markets are starting Thursday in a more defensive position. Brent crude has broken above US$100 a barrel , U.S. Treasury yields are pushing higher, and Wall Street fell for a third straight session as investors reassess whether central banks may need to keep tightening rather than easing. For Malaysian investors, the key chain today is increasingly clear: Oil → inflation → interest rates → bond yields → USD/MYR → Bursa valuations. 30-second market snapshot Market / Asset Latest 🇺🇸 S&P 500 7,636.36, -0.48% 🇺🇸 Dow Jones 52,380.66, -0.77% 🇺🇸 Nasdaq 26,253.34, -0.64% 🇲🇾 FBM KLCI 1,714.34, virtually flat 💵 USD/MYR ~4.06 🇺🇸 U.S. 10Y Treasury ~4.84% 🇺🇸 U.S. 2Y Treasury ~4.42% 🥇 Gold ~US$4,396/oz 🛢️ Brent crude US$101.21/bbl 🛢️ WTI crude US$96.05/bbl ₿ Bitcoin ~US$79,300 🇯🇵 Nikkei ~64,760, -0.6% this morning Brent jumped about 3.4% Wednesda...
The US economy grew faster in Q3 than previously estimated, driven by strong consumer spending and a surge in exports, according to revised figures from the Bureau of Economic Analysis released Thursday.
Key Highlights
GDP Growth
- Gross Domestic Product (GDP) increased at a 3.1% annualized rate in Q3, up from the prior estimate of 2.8%.
- Consumer spending, a key driver of the economy, was revised to 3.7% from 3.5%.
Exports Surge
- Exports expanded by 9.6%, significantly higher than the previous estimate of 7.5%, with growth entirely attributed to services.
Inflation Metrics
- The personal consumption expenditures (PCE) price index, excluding food and energy, was revised slightly higher to 2.2%.
Economic Resilience
- The revised data reinforces that the economy remains strong, defying forecasters’ predictions of a slowdown.
- This comes on the heels of the Federal Reserve signaling slower rate cuts in 2025, influenced by stronger-than-expected economic data.
Other GDP Components
- Business investment, residential investment, and government spending also saw upward revisions, contributing to the stronger overall performance.
Comments
Post a Comment