Welcome to Markets Desk, here's what's moving markets right now.
The global bond rout is deepening, with borrowing costs extending to multi-decade highs across major economies. Inflation fears, the prospect of rates staying higher for longer, and mounting sovereign debt loads are all feeding the selloff. Treasuries, gilts, and bunds are all under pressure, and there is no clear catalyst for relief on the horizon.
Turning to the Fed, incoming Chair Kevin Warsh has rattled Wall Street with just three words, and the reaction tells you everything about how sensitive markets are to any signal from the central bank right now. Warsh is only the seventeenth person to lead the Fed since its founding in December nineteen thirteen, and his early framing of policy is being parsed with extraordinary intensity by traders and portfolio managers alike.
Meanwhile, Nvidia has returned a record twenty-six billion dollars to shareholders, including a dividend increase of twenty-four hundred percent. Demand for its new Vera Rubin computing platform is running well ahead of supply, and analysts are already forecasting another substantial dividend hike ahead. For a chipmaker, that kind of capital return signals extraordinary confidence in the durability of the AI spending cycle.
That's the tape. Markets Desk, signing off the floor.
