Akane Otani

speaker

1,333 appearances 33 recordings 1 series first heard Aug 2017 last heard Mar 2023

Akane Otani’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Earnings in Focus, Following a Turbulent Week · 13 Oct 2018 podcast

So to a certain extent, that's been priced in.

So it's really going to be important for investors to see that companies are still continuing to issue upbeat forecasts for the coming quarters.

Thanks for having me.

WSJ Your Money Briefing · Another Steep Selloff, With Earnings on Deck · 11 Oct 2018 podcast

That's right.

We actually thought that the market might have a better session because before the market opened in U.S.

trading, we saw CPI data that came in weaker than economists had been expecting.

And one of the big concerns that people have been talking about throughout the year is this fear that inflation is accelerating and that

In turn, that's going to push the Fed to have to pick up its pace of interest rate increases.

And with the CPI print that was just 0.1% increase in September, folks were thinking, oh, okay, maybe that concern is sort of off the table for now.

So we actually saw stock futures bounce higher, but then-

It gave way very quickly to the selling that we saw throughout the trading day and more of this volatile sort of sudden selling as well, where in a period of 20 minutes at one point, we saw the Dow Industrials lose about 400 points with no sort of obvious explanation why.

Yeah, it was another one of those days where you sort of take your eye off the markets for a minute and then things are completely in another direction.

And so I think that has been sort of scary for traders to watch just the last two days, how volatile the action has been, not just in the stock market, but also in bonds and commodities and things like the VIX.

That's certainly part of it.

I think whenever we see a sharp rise in government bond yields, like we have seen in October and also back in February when the market also tumbled, it does raise the question of where this leaves the Fed.

And if bond yields are rising because growth is accelerating,

then presumably we have a situation where the Fed is very much justified in potentially picking up its pace of interest rate increases, which of course then sort of puts more pressure on the stock market because stocks are no longer necessarily the most attractive things out there.

Why invest in relatively risky stocks when you can maybe put more of your money into bonds, which...

are essentially risk-free.

So that's definitely one part of it.

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