JPMorgan warns food inflation could double by 2027
JPMorgan Chase flags that global food inflation could double by 2027, citing potential Strait of Hormuz shipping disruptions and a possible historic El Nino event affecting crop yields.
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JPMorgan Chase flags that global food inflation could double by 2027, citing potential Strait of Hormuz shipping disruptions and a possible historic El Nino event affecting crop yields.
The Treasury Department doubles its long-dated bond buyback operations from $2 billion to $4 billion per operation, while the 30-year yield briefly fell to 5.19% before rising to 5.27%.
Mohamed El-Erian says the U.S. Treasury’s move to at least double liquidity-support buybacks for long-dated bonds is a short-term “Band-Aid,” while Treasury says the change runs Sept. 9 through Nov. 4.
SPDR Gold Shares (GLD) surged 3% after the U.S. Treasury unexpectedly doubled long-dated bond buybacks to at least $4 billion per operation, pushing yields and the dollar lower.
The U.S. Treasury will raise liquidity-support buybacks for long-dated bonds to at least $4 billion per operation from $2 billion, effective Sept. 9 through Nov. 4.
The U.S. Treasury says it will increase the size of liquidity support buyback operations for longer-dated nominal coupon securities in the 10-year to 20-year and 20-year to 30-year sectors, effective September 9.