EUR/USD
1.15886
0.153%
Gold
4309.04
2.337%
Oil
79.840
-3.669%
USD/JPY
160.345
0.091%
GBP/USD
1.34123
0.013%
GBP/JPY
215.048
0.096%
Real-time News
On June 16th, PGIM, a US asset management firm, held a fringe view that the Federal Reserve would raise interest rates three times this year to curb an overheated economy, before reversing the rate hikes in 2027. The firm had previously predicted a rate cut by the Fed this year in April. PGIM stated that the US economy is "exceptionally strong" and inflation remains persistently high, necessitating a new strategy. Given this backdrop, and considering the Feds failure to achieve its 2% target for five consecutive years, PGIM expects the Fed to raise rates three times this year to bolster its credibility and anchor inflation expectations. PGIM stated, "If the rate hikes are described as a precautionary measure to address supply-side inflation and recent volatility in long-term Treasury bonds, then Warsh will gain political support." However, PGIM indicated that it expects the Fed to "reverse these rate hikes relatively quickly, implementing three rate cuts in 2027 and another in 2028, ultimately reaching a rate of 3.375%—below current levels and potentially close to the neutral rate."According to The Information, Qualcomm (QCOM.O) is in talks to acquire Tenstorrent to expand its artificial intelligence chip capabilities.According to Iranian television reports, three oil tankers and two ships carrying essential Iranian supplies have broken through the US naval blockade.Market sources indicate that several studios within Microsofts (MSFT.O) Xbox gaming division, such as Compulsion Games and Double Fine, are in active discussions regarding a potential spin-off.The Dow Jones Industrial Average rose 468.77 points, or 0.92%, to close at 51,671.03 on Monday, June 15; the S&P 500 rose 123.00 points, or 1.66%, to close at 7,554.46; and the Nasdaq Composite rose 795.10 points, or 3.07%, to close at 26,683.94.
