Powell Is Giving Himself Some Wiggle Room on Rates, Says Daiwa Capital's Kitney

The video discusses the potential for interest rate hikes in response to inflation, with a focus on the US Federal Reserve's approach to monetary policy. It examines market trends, particularly in treasury yields, and their impact on stocks. The analysis highlights the nonlinear relationship between bond yields and PE multiples. The video also explores global earnings growth, noting the strong performance in the US due to tax cuts and the steady growth in Asia despite trade concerns.

What is the potential impact of rising bond yields on earnings multiples according to the text?

What does the speaker imply about the future of earnings growth in emerging markets?