Squawk on the Street Squawk on the Street 2nd Hour 4/8/26
Apr 8, 2026
Michelle Gass, CEO of Levi Strauss & Co., on the brand’s shift to direct-to-consumer growth, pricing power, and global sourcing. Roger Altman, Evercore founder and former U.S. Treasury official, on geopolitical risks and why markets should stay cautious. They discuss quarterly results, tariff exposure, yields, and how regional tensions are shaping investor sentiment.
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Ceasefire Triggered Rapid Repricing Of Inflation And Fed Bets
- Ceasefire news quickly lowered oil and break-even inflation, shifting market odds toward Fed cuts by year-end.
- Sara Eisen showed five-year and 10-year break-evens dropping and two-year yields falling, implying easier Fed policy expectations into 2027.
Two-Week Truce Is Too Short For A Lasting Peace
- Roger Altman warned the two-week truce is unlikely to produce a comprehensive peace and many open issues remain.
- He listed unresolved points: Strait of Hormuz control, enriched uranium, ballistic missiles, Lebanon spillover, and sanctions relief uncertainty.
Airlines Seeing Pricing Power Amid Jet Fuel Volatility
- Delta beat earnings and cited robust pricing and demand while jet fuel costs remained a headwind until oil fell.
- Sheila Kahyaoglu highlighted Q1 unit revenue growth and Delta saving about $300 million in Q2 from refining benefits.