How do you feel about driverless cars?

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Kimberly Adams (1:01)

Keeping an eye on the bond market and the oil market, plus where we are embracing technology and where we go to escape it.

From Marketplace in Washington, I'm Kimberly Adams. We're continuing to track moves in the global bond market as well as oil and more. Joining me now for a breakdown is Russ Mould, Investment Director at AJ Bell in London. Good morning, Russ.

Russ Mould (1:24)

Good day to you, Kimberly. Hope you're keeping well.

Kimberly Adams (1:26)

I am. Thank you. But the bond markets, on the other hand, continue to give us quite the ride. Why do we continue to see all this volatility?

Russ Mould (1:35)

Maybe no consolation. It's not just the USA. You are seeing it in the UK, in Japan, and in continental Europe as well. And there are a couple of schools of thought. But I think the main theory that's going around is this is a debt issue. We've been fiscally incontinent in many parts of the world, and there is now a large interest bill accompanying that because interest rates have started to normalize. So now bond vigilantes are starting to say to governments, look, you need to think about how you're going to fund this.

And we're frightened that you're going to be doing it for inflation. So we're going to charge you a higher interest rate.

Kimberly Adams (2:07)

We got some data this morning related to the oil markets, that oil exports have returned to pre-war levels despite the ongoing attacks in the Strait of Hormuz. What's going on there?

Russ Mould (2:21)

America continues to be a phenomenally efficient producer of oil and gas from its shale fields. And so that has taken a lot of the strain off. And the financial markets are still hoping that there will be a peaceful settlement and the Straits of Hormuz will be open. And that's been their core position, really from the initial peace deal back in April. And you also have global governments, the G7, with the help of the International Energy Agency and with the help of the USA, looking to release strategic reserves.

Kimberly Adams (2:48)

So, given that we are seeing oil exports ramp up, are we going to see some relief at the gas station over here?

Russ Mould (2:56)

I mean, everybody's wanting to see that, Kimberly, whether you're American, British or European, I can assure you the prices over here are equally uncomfortable by historic standards. I wouldn't be surprised if energy prices to remain elevated just because of the geopolitical risk that we're seeing.

Kimberly Adams (3:12)

Russ Mould is investment director at AJ Bell. Thank you so much, Russ.

Russ Mould (3:16)

Thank you.

Kimberly Adams (3:17)

In our technology-driven world, people are becoming more comfortable with technology driving them. Americans are more familiar with autonomous vehicles than they were a decade ago. But if a self-driving car is in their future, most still want the option of taking the wheel.

Those are among the findings from a survey by Cox Automotive about American's attitudes towards autonomous vehicles. Marketplace's Henry Epp has more.

Henry Epp (3:43)

About one in five people have ridden in a robo taxi, according to Cox's survey. Those are driverless cars operated by companies like Waymo or Zucs, which are available in over a dozen cities now. Those who've tried them generally like them, says Sam Abowel-Sammed with the market research firm Telemetry.

Sam Abowel-Sammed (4:00)

Once people have an opportunity to actually ride in one of these and experience riding in an automated vehicle, they tend to have a much better impression of it.

Henry Epp (4:10)

Cox's survey bears this out. 83% said their perception of autonomous vehicles improved after riding in one. But for the vast majority of people who've never ridden in a robo-taxi, Cox found several reasons they're hesitant.