Market movement today There are no market movers on the calendar today. This week we’ll focus on US data releases with the planned November jobs report, ISM services and the University of Michigan survey. We expect further cooling in non-farm payrolls on Friday to +140k and expect average hourly earnings to grow steadily at 0.2%. … Read more
The previous week marked a significant shift in market sentiment regarding expectations of a Federal Reserve (Fed) rate hike. The latest Consumer Price Index (CPI) update revealed a slower-than-expected inflation rate in the US, along with politicians fending off a government shutdown. Despite these factors, the US 2-year yield tested 4.80% for a fourth time, … Read more
Market movement today Today’s US data is not one that usually moves the markets much: industrial production, the NAHB housing market index and the Philly Fed index for November. We saw a fairly strong rise in the Empire for the latter, but both the Empire and the Philly Fed are somewhat unreliable guides to the … Read more
Today’s market movers US CPI for October is the highlight of this week in terms of data releases. We expect core at 0.1m/m and core at 0.3% m/m in line with consensus, but with uncertainty stemming from the auto workers’ strike, which may have temporarily boosted car prices, as well as technical factors related to … Read more
markets Curve inversion/overcoming the long end was the name of the game in the major bond markets yesterday. US yields advanced between 1.4bps (2y) and 11bps (30y). The US 10-year yield closed near the key 4.50% benchmark. German returns showed a similar picture. The 2-year still gained 3.1 bps, but the 30-year fell 8.1 bps. … Read more
markets Curve inversion/overcoming the long end was the name of the game in the major bond markets yesterday. US yields advanced between 1.4bps (2y) and 11bps (30y). The US 10-year yield closed near the key 4.50% benchmark. German returns showed a similar picture. The 2-year still gained 3.1 bps, but the 30-year fell 8.1 bps. … Read more