One dot already beaten by the data
Bond yields have fallen overnight, despite the hawkish Fed meeting yesterday. Why? Because PPI data came in soft. JBWere’s Sally Auld talks through the response.
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Show Notes
Friday 14th June 2024
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You might have expected that bond yields would start creeping back up again after the Fed’s hawkish ‘one dot plot’ meeting yesterday. Instead yields fell, as the latest producer prices echoed the softness in the CPI read before the Fed. JBWere’s Sally Auld says it feels like price pressures, after a hot start to the year, are starting to cool a bit. So, does that mean the Fed’s predictions of just one rate cut this year are already out of date, just one day later? There’s also a discussion about share, currency and bond movements in Europe, the take-outs from yesterday’s Australian labour market data and what to expect from the Bank of Japan today.
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