A cyber-attack has never taken down a U.S. fuel pipeline quite as big as the Colonial Pipeline. It’s the nation’s largest gasoline, diesel and jet fuel system and a critical source of fuel supply for the U.S. Northeast.
Inflation and retail sales reports receive top billing on the U.S. economic calendar this coming week in the wake of surprisingly disappointing jobs figures.
Wall Street is bracing for flurry of new debt sales next week, with two jumbo deals expected to kick off the busiest primary high-grade calendar since mid April and high-yield issuance poised for a record first-half.
It’s all very simple. The economy isn’t strong enough for the Federal Reserve to taper stimulus, therefore stay-at-home tech shares will rally. And any efforts to heal the economy are likely to drive up inflation, meaning banks and airlines will benefit.
The prospect of a rebound to 2% yields on the world’s benchmark bond is alive and well.
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