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The Latest Breaking News from Jim Reid

Deutsche Bank asked AI how it was planning to destroy jobs. And the robot answered

It’s like looking into a crystal ball, or being told by your predator exactly how you’ll be consumed.

Friday the 13th brings global selloff in stocks and gold as AI fear grips markets

Friday the 13th brings global selloff in stocks and gold as AI fear grips markets

But analysts on Wall Street this morning are suggesting that the selloff may be overdone.

Don’t get comfortable with the global stock rally today: Goldman’s ‘Panic Index’ is approaching ’max fear’

Don’t get comfortable with the global stock rally today: Goldman’s ‘Panic Index’ is approaching ’max fear’

Every time stocks take a dip in reaction to bad news, a relentless wave of buy-the-dippers has stepped up to send them back upward again.

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‘FOMO’ trade finally loses steam as gold and silver sink on Warsh nomination

“Price action had long since detached from any sane discussion on debasement, but it often takes only a small ripple to trigger a broader correction,” noted Deutsche Bank’s Jim Reid.

Taco Thursday: European and US stocks rise after Trump ‘chickens out’ over tariffs

Gains come after US president says he will not use military force to acquire territory and cites ‘framework deal’

The Guardian - US

Wall Street is once again banking on the TACO trade because they've been 'burned' by believing Trump before

At the time of writing, only 17% of Polymarket bettors believe all the tariffs Trump has threatened against Europe will go into effect on Feb. 1. A further minority of 40% believe any tariffs will go into effect in a fortnight’s time.

America’s ‘Achilles Heel’ of national debt is exposed by Trump’s Greenland tariff threat, warns Deutsche Bank

"While in many ways it feels like the U.S. holds the economic cards, it doesn’t hold all the funding cards in a world that will be very disturbed by the weekend’s events."

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US oil company shares and Venezuelan bonds rally after Maduro seized, sending Dow to record high – as it happened

US oil company shares and Venezuelan bonds rally after Maduro seized, sending Dow to record high – as it happened

Rolling coverage of the latest economic and financial news, with gold and defence company shares also higher today

The Guardian - UK

Stocks: Everything is on hold until the Fed delivers that rate cut on Wednesday

Stocks: Everything is on hold until the Fed delivers that rate cut on Wednesday

The market will get moving again once it digests Chair Powell’s statement and his remarks to the press.

Global stock markets fall sharply over AI bubble fears

Global stock markets fall sharply over AI bubble fears

Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead

The Guardian - UK

The U.S. housing market is 'starved' for affordability: Boomers edge millennials and Gen Z out of homeownership in record numbers

The U.S. housing market is 'starved' for affordability: Boomers edge millennials and Gen Z out of homeownership in record numbers

Home buyers need to make six figures to afford a median-priced home in the U.S.

For now, data ignorance is bliss on Wall Street as investors warned not to rely too heavily on private surveys

For now, data ignorance is bliss on Wall Street as investors warned not to rely too heavily on private surveys

"The danger with this data is that its message will be given unwarranted credibility by the absence of proper economic data," said UBS's chief economist, Paul Donovan.

Powell gave traders a green light to double down on AI—but the markets punished Meta and Microsoft anyway

Powell gave traders a green light to double down on AI—but the markets punished Meta and Microsoft anyway

The market declined to demonstrate irrational exuberance despite upbeat remarks from the Fed.

A ‘perfect alignment’ across markets has Wall Street 100% convinced of a rate cut

A ‘perfect alignment’ across markets has Wall Street 100% convinced of a rate cut

Job weakness and softer inflation data push markets to fully price in a September Fed cut, but Powell’s decision could spark volatility if he resists.

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The first battle in the war on Fed independence takes shape today at Lisa Cook’s emergency hearing

Trump’s bid to oust Fed governor Lisa Cook faces a legal showdown as she sues to block her removal, escalating the fight over Fed independence.

Trump’s threat to fire another Fed member has Wall Street weighing the price of ‘wrecking institutions’ with ‘scapegoat economics’

While UBS’s Paul Donovan told clients the attempt was “completely unprecedented,” Wharton’s Jeremy Siegel argued her ousting adds “noise but little substance” compared with the Fed’s longer-term policy pivots.

Markets have convinced themselves they’ll get a September base rate cut. Now they’re eyeing a double reduction

Treasury Secretary Scott Bessent is pushing for 50 bps to offset missed opportunities earlier this summer, but some analysts warn that rising core inflation to 3.1% and upcoming jobs data could still delay action.

Markets are so used to the TACO trade they didn’t even blink when Trump extended a tariff delay with China

Once upon a time, a decision to delay sky-high tariffs on China would have been an 11th hour save—but in 2025 markets barely noticed.

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Stocks slide globally as investors digest Trump’s new tariffs—and analysts warn the worst is yet to come

"These taxes do not show up in consumer baskets with full force until January next year," UBS says.

Japanese equities rally on ‘massive’ U.S. trade deal, with markets buoyed by hopes of more 11th hour announcements

While the announcement was cause for optimism ahead of Aug. 1, analysts remained concerned about the steep tariffs still looming for key trading partners such as Brazil and the EU.

Today’s housing market is so upside down there are more senior citizens buying homes than Gen Z and millennials

Home buyers need to make six figures to afford a median-priced home in the U.S.

Markets are preparing for an international game of tariff bluff—but President Trump may no longer need to back down

Analysts including Deutsche Bank’s Jim Reid and Goldman Sachs’ Sven Jari Stehn suggest Trump's sharp escalation is more likely a negotiation tactic than a firm policy shift.

The markets are playing chicken against Trump on the assumption that the Fed will rescue them if their call is wrong

"At some stage, someone’s bluff could be called," says Deutsche Bank's Jim Reid. "If huge tariffs do get imposed on August 1st, in thin holiday markets, we could get a sizeable market reaction.”

‘Masterful inactivity’ reigned at Fed’s latest meeting—but notes reveal more officials are coming around to Donald Trump’s way of thinking

Fed officials are increasingly split on rate cuts, though UBS’s Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

Trump keeps getting in the way of the rate cut he desperately wants from Jerome Powell

Deutsche Bank argues the Fed's path to cutting is only getting more "difficult" because of Trump's changing tariff policies.

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