Booming markets neutralise impact of Fed's interest rate rises
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 1 August 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Rising stock prices and falling bond yields in the US have essentially neutralised the impact of the Federal Reserve’s interest rate rises, western oil and gas majors are expected to face renewed scrutiny of their energy transition plans, and China’s metals and mining investments overseas are on track to hit a record this year. Plus, the private equity owners of German sandal maker Birkenstock are considering an initial public offering of the company.
Mentioned in this podcast:
US stocks notch longest monthly winning streak in two years
Booming markets neutralise impact of rate rises on US corporate fundraising
China’s overseas investment in metals and mining set to hit record
Oil majors to face energy transition scrutiny as war profit boost fades
Birkenstock owner eyes $8bn valuation in September IPO
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. Additional help from Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.0 | Good morning for the Financial Times. |
| 0:13.6 | Today is Tuesday, August 1st. |
| 0:15.7 | This is your FT News Briefing. |
| 0:19.3 | The US Stock Market is making the Fed's job harder |
| 0:22.5 | and China is splurging on overseas mining and metals. |
| 0:26.7 | Plus oil and gas majors are not seeing record profits anymore. |
| 0:31.2 | But they're still doing just fine. |
| 0:34.1 | A Mark Filipino and here's the news you need to start your day. |
| 0:46.1 | US stocks are on fire. |
| 0:48.8 | American equities recorded their longest winning streak in two years |
| 0:53.2 | after the S&P 500 closed out July 3% higher. |
| 0:57.8 | Rising stock prices and falling bond yields have essentially |
| 1:01.2 | neutralized the impact of interest rate rises. |
| 1:04.4 | US financial conditions are the loosest they've been since March of last year. |
| 1:08.7 | That's according to the Federal Reserve Bank of Chicago. |
| 1:11.5 | And now it's a lot easier for US companies to raise money. |
| 1:15.8 | Here to explain what's going on is the FT's Harriet Clarfeld. |
| 1:18.9 | Hi Harriet. |
| 1:20.0 | Hi Mark. |
| 1:21.2 | Okay, so take me from A to B. |
... |
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