Bonds & Stocks
Stocks were poised for a rebound after their biggest selloff since October as President Donald Trump said the US doesn’t want to use excessive force to get Greenland. A day after a cross-asset slide dubbed by some as a revival of the “Sell America” trade, S&P 500 futures were up about 0.5%. Treasuries, which were also hit in the previous session, bounced. The dollar fluctuated.
Economy
Jamie Dimon said President Donald Trump’s proposal to cap credit-card interest rates would spell “economic disaster” for the US, forcing banks to pull credit lines for many Americans. Speaking at the World Economic Forum in Davos, Switzerland, the JPMorgan Chase & Co. chief executive officer said his firm will give a “real analysis” of the proposal to the government. JPMorgan has already provided some thoughts on the idea, “but not a lot,” Dimon said.
World
UK inflation accelerated for the first time in five months, a pickup that’s expected to prove temporary with government measures set to dampen price pressures in the spring. Consumer prices rose 3.4% from a year earlier in December, up from a 3.2% pace the previous month, the Office for National Statistics said on Wednesday.