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In focus today Today, euro area final HICP data for November will be released. With all the details out, it will be interesting to see what drove the downtick in inflation in November. In the US, we will get housing starts and building permits for November. On the central bank front, we have a few […]

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25/04/2024

Japanese Yen Moved Beyond USD/JPY 155 for the First Time Since 1990

Markets Core bonds drifted away again yesterday. In the US, Treasuries reversed Tuesday’s (disappointing) PMI-induced spike higher. Weakening demand and a slight tail at the US Treasury’s record $70bn 5-yr Note sale kept UST’s near intraday lows going into the close. The longer end of the curve underperformed with the front end locked in the […]
20/04/2024

U.S. Economy’s Outperformance Carried on into the Start of the Year

The first estimate of U.S. Q1 gross domestic product next Thursday is expected to show another robust increase—extending a long stretch of outperformance in the U.S. economy versus advanced economy peers. We expect U.S. output to have grown by an annualized 2.3% from Q4 last year, powered by stronger consumer spending and a tick-up in […]
16/03/2024

Weekly Economic & Financial Commentary: FOMC Likely on Hold Until Summer

Summary United States: The Equinox and the Struggle to Find Balance Spring is a time for new beginnings, and we see fresh possibility in some of this week’s less-than-stellar data. It may eventually help bring the needed balance into place to get inflation closer to the FOMC’s target. Next week: Housing Starts (Tue.), Existing Home […]