Good morning, you're listening to Markets Desk.
After more than three decades of calling bonds a buy, Lacy Hunt and Hoisington Investment Management have officially changed their tune. The firm, long regarded as one of the most credible voices in fixed income, now sees inflation entrenching and yields trending structurally higher — a significant capitulation that the bond market cannot ignore.
Reinforcing that inflation concern, this morning's import price data came in hotter than expected, up three tenths of a percent for the month, with goods from China reaching their most expensive levels since two thousand eight. Energy costs fell, but that drop was more than swallowed by broad price increases elsewhere — a reminder that tariff pressures are still very much alive in the data.
Shifting to earnings and strategy, Netflix is doubling down on live sports rights, betting that premium live programming drives subscriber growth. But investors are growing restless, questioning whether the engagement numbers justify the steep costs. With the streaming wars maturing, the market wants to see whether eyeballs convert to durable revenue — and right now, that case is still being made.
That's the tape. Markets Desk, signing off the floor.
