The U.S. stock market’s best first half of a year since 1997 is in the books, as is a ferocious rally in Treasuries, and the second half is poised to be dominated by speculation about what the Federal Reserve will do with interest rates as cracks appear in the longest economic expansion on record. Despite the fireworks in equities and sovereign bonds, currency markets are stuck in some of the narrowest trading ranges on record. Joining the latest episode of the “What Goes Up” podcast to discuss the first half and the outlook for the rest of the year are Pimm Fox, a blogger for Bloomberg Markets Live, and Katherine Greifeld, a reporter on the bonds and foreign-exchange team.

Mentioned in this podcast:

Be ‘Prepared for Anything’ as Trump Slams Europe, China on FX

One Look at Passive Flows Explains the Story of Markets in 2019

Trump Wants the Fed to Weaken the Dollar. Powell Says That’s Not His Job