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Why Kevin Hassett as Fed Chair Isn’t Automatically Bullish

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What’s in Today’s Report:

  • Why Kevin Hassett as Fed Chair Isn’t Automatically Bullish (Hint: Bond Yields)

Futures are little changed despite more solid tech earnings and positive news for the yen carry trade.

Salesforce (CRM) posted stronger than expected results and continued the run of strong tech earnings this week.

In Japan, yen carry trade worries eased slightly after a strong 30-year JGB auction, which sent the Nikkei sharply higher (up more than 2%).

Today focus will be on labor market data via Jobless Claims (E: 225K) and Challenger Job Cuts (Last 153k).  Slightly underwhelming data will be again welcomed by markets as that will further boost rate cut chances (although very weak readings may stoke economic concerns).

Earnings also continue today and some reports to watch include: DG ($0.92), DOCU ($0.33) and HPE ($0.49).

 

Powell’s Tone Could Add Pressure to Fragile Markets, Says Essaye

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Sevens Report’s Tom Essaye warns that even a mildly hawkish stance from the Fed chair could weigh further on equities.

Stocks Fall as China Retaliation Rattles Traders: Markets Wrap

“Any less-dovish tone from Fed Chair Powell has the potential to add pressure to an already fragile and heavy equity market today,” said Tom Essaye at The Sevens Report.

Also, click here to view the full article published in Bloomberg on October 13th, 2025. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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