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ANALYSIS - Painfully High Interest Rates Wake Up Global Markets

Large investors are warning that fears that interest rates in major economies will remain relatively high are growing, threatening to sound a painful alarm in financial markets. Global stock markets remain near record highs and demand for debt issued by the riskiest companies is strong as traders focus on expectations of a summer rate cut. But asset managers and economists now expect only minimal monetary easing, especially as the U.S. Federal Reserve faces unexpectedly persistent inflation.

STOCKS TODAY: Asian stocks mixed, U.S. stocks appear to be holding rates where they left off

Asian stocks were mixed on Wednesday as markets renewed expectations that U.S. interest rates could remain high for some time. Fed Chief Executive Jerome Powell said at an event on Tuesday that the central bank has been waiting to cut its key interest rate, which is at its highest level since 2001, because it first needs more confidence that inflation will continue to fall to its 2% target. "The appetite for risk-taking remains weak, with Fed chief Jerome Powell confirming a later rate cut timetable as a series of Fed spokesmen called for more patience on the easing side of the equation," said IG market analyst Yeap Jun Rong.

Goldman Sachs' First Quarter Performance Boosted by Strong Wall Street Performance

Goldman Sachs said Monday that its first-quarter profit rose by double digits, buoyed by the general performance of the stock and bond markets in the first few months of the year. Goldman Sachs has struggled through much of 2023, as higher interest rates have prevented the firm from making deals and acquisitions. The New York-based investment bank reported a profit of $4.13 billion, up 28% from a year earlier.

Jefferies Says It's Time to Pull the Trigger on These Two CRE Stocks

Inflation in March showed an annualized CPI of 3.51 TP3T, the highest in six months, but people are still debating whether this will deal a blow to the argument that inflation is falling. Yes, prices are still high, but the rate of increase is declining - even counting March's headline number. Common sense tells us that the Fed is still on track to lower rates later this year - as soon as possible, but probably not as soon as previously hoped. The real key is
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