Major Overnight News: Global Bond Yields Surge as Trump Fires Fed Governor Lisa Cook

About this Video

• Video Title: Major Overnight News: Global Bond Yields Surge as Trump Fires Fed Governor Lisa Cook
• Channel: Infranomics
• Speakers: One speaker (name not provided in transcript)
• Duration: 25:25

Introduction

This video discusses major overnight financial news, focusing on the surge in global bond yields, the impact of Donald Trump firing Fed Governor Lisa Cook, and the implications for consumer confidence, home prices, and durable goods orders. The speaker analyzes various economic reports and market reactions.

Key Takeaways

1. Global Bond Yields Surge: Long-end bond yields are surging to all-time highs worldwide.
2. Trump Fires Fed Governor: Donald Trump fired Fed Governor Lisa Cook, causing a significant shakeup at the Federal Reserve.
3. Cooling Housing Market: Home prices are rising more slowly, indicating a deceleration, though not a crash, in the housing market. Real inflation-adjusted returns are becoming negative.
4. Weakening Consumer Confidence: Consumer confidence dipped, particularly among younger demographics (under 35), due to rising inflation fears.
5. Durable Goods Orders Decline: Durable goods orders decreased significantly after adjusting for inflation, signaling manufacturing lows.
6. Potential for Capital Repatriation from Japan: Rising Japanese bond yields could incentivize the repatriation of Japanese capital from US assets (Treasuries, equities, real estate), potentially impacting US markets.