Stocks and Bonds Fall on Hot CPI, Bank Earnings Disappoint, More
Summary
Markets fell as hotter-than-expected September CPI data fueled bets on imminent Fed rate hikes, with the 10-year yield surging to 5.30%. Bank of America shares dropped 7% after missing trading revenue estimates and facing a $1.2 billion sanctions penalty, while Morgan Stanley beat forecasts. The episode also covers Netflix’s 6% staff cuts, Houthi attacks on Saudi Aramco, Russia’s strikes on Ukrainian energy infrastructure, and early voting in the Georgia Senate race.
Topics discussed
Intro and market open
Stock market and bond yields overview
September CPI inflation data
Bank of America and Morgan Stanley earnings
Netflix layoffs and CEO interview preview
Saudi Aramco attack and oil markets
Russia strikes Ukraine energy infrastructure
Zelensky in UK and US Senate races
Bending Spoons investment and Social Security COLA
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