Bond Yields at 19-Year High After Fed Holds; Tech Earnings Lift Stocks | Bloomberg Brief 07/30/2026
Спикеры
Neil Campling
— Аналитик в сфере технологий/TMT
Ven Ram
— Репортер/стратег Markets Live, Bloomberg
Andrew Hollenhorst
— Chief Economist, Piper Sandler
Vonnie Quinn
— Ведущий, Bloomberg
Chloe Meley
— Репортер, Bloomberg
The Fed kept rates unchanged but Chair Warsh’s dovish press conference triggered a bond sell-off, pushing 30-year Treasury yields to a 19-year high. Microsoft shares rose after strong cloud and AI results, while Meta tumbled on unclear AI spending returns. Samsung fell despite record profits as memory oversupply concerns resurfaced. Oil climbed above $90 on renewed US-Iran strikes. Citi’s Andrew Hollenhorst expects the Fed to cut rates later, while CFRA’s Angelo Zino highlighted Microsoft’s enterprise AI advantage and Meta’s cloudy messaging.
- Fed holds rates, 30-year Treasury yields spike to levels not seen since 2007
- Microsoft earnings beat on Azure and Copilot strength, stock rallies
- Meta shares sink after disappointing outlook and skepticism on AI capex
- Samsung profit soars but stock drops on memory supply fears
- Oil rises above $90 after US strikes against Iran escalate Middle East tensions
- Citi’s Hollenhorst predicts Fed cuts this year on softer inflation and rising unemployment
- CFRA’s Zino sees Microsoft as the enterprise AI leader, Meta’s AI story still cloudy
- Bank of England decision ahead; gilt selloff risk if BOE fails to stamp out inflation
Идеи
Long bonds sell off on credibility loss.
The Fed's credibility is damaged; the market perceives a dovish tilt despite hawkish words, so bondholders are demanding a higher inflation risk premium, which will drive long-end yields further up and keep bonds under pressure.
Gilts will sell off if BOE disappoints.
The Bank of England, like the Fed, is behind the curve on inflation; unless the BOE sends a resolute hawkish message at today's meeting, gilt markets will sell off as investors price in higher inflation risks.
Microsoft AI spend is paying off.
Microsoft’s Q2 results validated its AI capex spending with Azure cloud growth reaccelerating to 43%, free cash flow above $20bn, and operating expenses growing only ~10%, showing the company is monetizing AI investment while maintaining discipline.
Meta AI spend lacks clear returns.
Meta’s AI capex spending is surging without a clear near-term monetization path; management’s messaging around compute capacity and revenue potential is cloudy, revenue growth is decelerating, and the numbers don’t add up for investors, leading to heavy selling.
Memory oversupply threatens Samsung.
Samsung posted record profits but its shares fell because memory demand-supply concerns persist; the company, like peers, is raising capex while future token prices decline, pointing to a supply glut that will hurt long-term profitability.
Buy short-term Treasuries, Fed cuts coming.
Inflation will soften sharply over the next few months (core CPI falling to 2.2%), the unemployment rate will rise, and the Fed will ultimately cut rates, so short-term yields should decline as rate-hike fears get priced out.
Далее
This Bloomberg Markets video, published July 30, 2026, features Ven Ram, Neil Campling, Andrew Hollenhorst discussing 30-Year US Treasury Bond, UKGILT, MSFT, META, 005930.KS, 2-Year US Treasury Note. 6 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Ven Ram, Neil Campling, Andrew Hollenhorst · Tickers: 30-Year US Treasury Bond, UKGILT, MSFT, META, 005930.KS, 2-Year US Treasury Note