Bloomberg - Evening Briefing - The new economic era

Bloomberg Evening Briefing

Goldman Sachs sees the Federal Reserve raising interest rates seven times this year to contain hotter-than-expected U.S. inflation rather than the five upticks the bank said it had previously foreseen. Contagion from a widening bond-market selloff is hitting assets from stocks to credit, as investors brace for the shock of higher rates. Here’s how the markets are entering the era of quantitative tightening in five charts. And here’s your markets wrap

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

Here are today’s top stories

The top U.S. military official spoke with his Belarusian counterpart to avoid a “miscalculation” around ongoing Russia-Belarus military exercises near the borders of NATO countries. Secretary General Jens Stoltenberg said that, as Russia’s military buildup on Ukraine’s border continues, there’s a “real risk” of conflict, including potential scenarios like hybrid warfare or attempts to bring down Ukraine’s government. Moscow has denied it plans to invade Ukraine with the 130,000 soldiers the U.S. says are massed on its borders. The White House says it could happen in days. Here’s the latest on the crisis, including a planned Saturday call between U.S. President Joe Biden and Russian President Vladimir Putin.

White House National Security Adviser Jake Sullivan said Friday Russia could take offensive military action or attempt to spark a conflict inside Ukraine as early as next week, a course of action Moscow has denied. Photographer: Shawn Thew/EPA

Biden on Friday issued an executive order to transfer the $7 billion in Afghan central bank assets frozen in the U.S. so they can be used to compensate victims of the Sept. 11 terrorist attacks and support aid efforts in Afghanistan. The order directs U.S. financial institutions to move Afghan central bank funds into a consolidated account held at the Federal Reserve Bank of New York, with the U.S. seeking to tap $3.5 billion for assistance to the Afghan people.

As cases of Covid-19’s omicron variant drop in parts of the U.S. (while Asia continues to suffer the worst of the wave), financial giants including Citigroup and JPMorgan have begun bringing more staff back to skyscrapers across New York City. Even after numerous false starts over the past two years, as wave after wave of infections killed more than 900,000 Americans, firms are hoping enough progress has been made that a return to full-scale remote work is unlikely. But with billions of people across the global still unvaccinated, the risk of new variants and more waves remains very real

Canadian authorities are running out of patience with anti-vaccine truckers and their supporters (which have included far-right extremists) blocking roadways. In New York about 4,000 unvaccinated city employees, including teachers, police and fire personnel, faced termination Friday. In Arizona, a federal judge appointed by Donald Trump blocked Biden’s mandate that federal contractors be vaccinated. And a new report shows a fourth Covid-19 shot may be needed for some people as booster efficacy wanes. On average, more than 2,300 Americans are dying from Covid-19 each day, with an infection rate of at least 215,000 each day, matching the peak of last year’s deadly winter surge. Here’s the latest on the pandemic.

Canadian police officers patrol downtown Ottawa on Feb. 10. Authorities have threatened to start arresting truckers and other demonstrators who have shut down central Ottawa and international bridges to protest Covid-19 precautions. Photographer: David Kawai/Bloomberg

The Bank of England has begun talks with the U.K. Debt Management Office and the Treasury over how to handle active sales of bonds held in its quantitative easing portfolio. The discussions come as the central bank last week said it would begin running down its 875 billion pounds ($1.2 trillion) of government bond holdings.

Facebook stopped being cool a very long time ago. Just ask any member of Generation Z. But Wall Street nevertheless held parent company Meta in the high esteem with price targets that just kept climbing. On Feb. 2, the bill for this lack of vision finally came due. So how did it happen?

Dude, where’s my Bronco? Ford took online reservations for its hottest vehicle in decades, but shipments have been anything but first-come, first-served. Now, Twitter-fueled outrage over how the trucks are being doled out risks tarnishing the company’s hot streak. 

Zach Westrum saw the coveted Bronco as a way for his mid-size Iowa dealership to become a larger player in the Ford ecosystem. Photographer: Rachel Mummey/Bloomberg

What you’ll need to know tomorrow

America’s Childcare Providers Struggle to Survive

Since the pandemic began, one-third of U.S. childcare centers have closed. Last year, Congress allocated $39 billion to help tide over providers, sending money to states to distribute. And that’s where the problem began. A year later, many states have yet to even open their application process, let alone get cash to those in need. And now that money is more important than ever: With a structural fix for the ailing industry on hold following the demise of Biden’s “Build Back Better” plan, those funds are all that stands between some childcare providers and shutting down.

Older messages

A half-point hike

Thursday, February 10, 2022

Bloomberg Evening Briefing View in browser Bloomberg As expected, or to be precise a little more than expected, US consumer prices jumped in January, adding urgency in some quarters to the Fed's

Covid rule rollback

Wednesday, February 9, 2022

Bloomberg Evening Briefing View in browser Bloomberg Confirmed Covid-19 cases just topped 400 million worldwide, though the actual number is likely much higher. Still, western nations are easing

Peloton goes into high gear

Tuesday, February 8, 2022

Bloomberg Evening Briefing View in browser Bloomberg US stocks rose in a broad-based rally as gains seemed to signal improving investor confidence despite looming Fed tightening. The S&P 500

Wall Street squirms

Monday, February 7, 2022

Bloomberg Evening Briefing View in browser Bloomberg US stocks fell late Monday amid a renewed decline by big tech firms. The tech-heavy Nasdaq 100 ended near the day's low, led downward by

Amazon rises as Facebook falls

Saturday, February 5, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter Facebook-parent Meta dropped below Microsoft in terms of market value after the company was hammered in a record $251

You Might Also Like

🇨🇳 The US is out, China is in

Tuesday, March 11, 2025

Citigroup's forecast for US and Chinese stocks, Lego stacked bricks, and Boeing's investigation | Finimize Hi Reader, here's what you need to know for March 12th in 3:10 minutes. Citigroup

The Under-the-Radar Threat to Your Retirement

Tuesday, March 11, 2025

Nearly half of older adults are burdened by bad debt ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

15 Years Since We Bought Our Toxic Asset

Tuesday, March 11, 2025

In a new Planet Money plus episode, former Planet Money hosts David Kestenbaum and Chana Joffe-Walt look back at a pioneering series that sought to explain a major source of the 2008 financial crisis.

👋 Investors ditched the S&P 500

Monday, March 10, 2025

The US president didn't rule out a recession, but TSMC eased some of investors' other worries | Finimize Hi Reader, here's what you need to know for March 11th in 3:07 minutes. TSMC's

💳 Find a new credit card

Monday, March 10, 2025

Let's get those rewards ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Text and Telos

Monday, March 10, 2025

Plus! Diff Jobs; Scaling; Retail Investors; Comparative Advantage; Transaction Costs and Corporate Structure; DeepSeek Governance Text and Telos By Byrne Hobart • 10 Mar 2025 View in browser View in

Longreads + Open Thread

Saturday, March 8, 2025

Personal Essays, Lies, Popes, GPT-4.5, Banks, Buy-and-Hold, Advanced Portfolio Management, Trade, Karp Longreads + Open Thread By Byrne Hobart • 8 Mar 2025 View in browser View in browser Longreads

💸 A $24 billion grocery haul

Friday, March 7, 2025

Walgreens landed in a shopping basket, crypto investors felt pranked by the president, and a burger made of skin | Finimize Hi Reader, here's what you need to know for March 8th in 3:11 minutes.

The financial toll of a divorce can be devastating

Friday, March 7, 2025

Here are some options to get back on track ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Too Big To Fail?

Friday, March 7, 2025

Revisiting Millennium and Multi-Manager Hedge Funds ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏