From CNBC: Oil giant BP reports highest profit in 8 years on soaring commodity prices
From Reuters: Cereal maker Kellogg Co. forecast full-year profit growth above market expectations on Thursday, riding on higher product prices that helped overcome labor strike disruptions and soaring input costs in the fourth quarter.
From The New York Times: Procter & Gamble’s sales jump as consumers brush off rising prices.
From The Ticker: McDonald’s to raise prices despite record revenue
From Yahoo Finance: Amazon stock soars 15% after earnings, will hike Prime membership fee
US Senator Elizabeth Warren put the pieces together when Fed chair Jerome Powell appeared last month before the Senate Banking, Housing, and Urban Affairs Committee. Offering a lesson in what she referred to as “Econ 101,” the senator from Massachusetts led Powell through a series of questions related to inflation.
Bond prices continue to accelerate lower with 10-year Treasury yields jumping nearly 15 basis points today. Stock markets remain reasonably steady in what is a clear role reversal. Usually, bonds do well in times of economic stress and the stocks decline. Right now, inflationary pressures are weighing heavily on bonds, but stocks are steadier because companies have successfully raised prices.Click HERE to subscribe to Fuller Treacy Money Back to top