Mon, Nov 16, 2020 6:13 AM
Walmart to sell most of Japan's Seiyu to KKR and Rakuten
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It looks like the Federal Reserve's visions of cutting interest rates were a bit premature. Inflation is still high, and it doesn't seem like there's going to be an early expiration date on high interest rates.Investors, shoppers, and others are settling in for what might be an extended stay, and the market's high-flying performance that reached an all-time high earlier this year.
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High inflation and a disappointing report on economic growth — followed by a sudden drop in stocks late last month — made for a familiar economic combination.These conditions were hallmarks of the 1970s when inflation ran high, leading the Federal Reserve to hike interest rates. The central bank’s measures to tame inflation drove up borrowing costs for real estate developers.
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Hedge funds are reversing their bearish stance on consumer stocks as the latest economic data and comments from the Federal Reserve revive bets on interest rate cuts. After four weeks of selling, hedge funds last week piled into consumer discretionary stocks, which saw the largest net buying during the week ended May 3, according to data compiled by Goldman Sachs Group Inc. s prime brokerage desk.
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