An autopsy on yesterday’s price action is useful. We got a hot mess in the news and on the charts yesterday.
Outlook Minneapolis Fed Kashkari said the Fed has not ruled out additional rate hikes. Then we got a mixed but relatively upbeat consumer confidence survey that showed a willingness to keep spending and the expectation that rates will, indeed, go up. The 10-year yield rose 8 points to 4.54% after the 5-year auction went for 4.553%, over the pre-auction 4.540%. Trading Economics reports “An earlier offering of $69 billion in two-year notes also saw tepid demand.
41% of this increase, while housing accounts for 0.37%. That’s why we have to look at non-housing services, too. See the Fed’s “sticky CPI prices less shelter.” As of May 15, the April number was 3.23%. Bottom line, the NY Fed’s multivariate chart looks hopeful for a nice dip this time. But the Fed’s sticky prices less shelter is not improving.
Centralbanks Macroeconomics CPI Positioning
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PCE data ahead this week, ECB's rate path in focus - what's moving marketsPCE data ahead this week, ECB's rate path in focus - what's moving markets
Read more »
Pound Sterling gains further against the US Dollar with focus on US core PCE inflationThe Pound Sterling (GBP) approaches the round-level resistance of 1.2800 in Tuesday’s European session.
Read more »
USD/CAD finds interim support near 1.3600 as focus shifts to US core PCE Inflation dataThe USD/CAD pair finds a temporary cushion near the round-level support of 1.3600 in Tuesday’s New York session.
Read more »
WTI appreciates to near $78.50 ahead of looming US PCE inflation and OPEC+ meetingWest Texas Intermediate (WTI) Oil prices inch higher ahead of the Organization of the Petroleum Exporting Countries and allies including Russia (OPEC+) meeting scheduled for June 2, where group producers will discuss extending voluntary output cuts of 2.2 million barrels per day into the second half of 2024.
Read more »
PCE, GDP on Tap This Week: Can the Economy Maintain Momentum?Market Overview Analysis by Brian Gilmartin covering: . Read Brian Gilmartin's latest article on Investing.com
Read more »
US Dollar wafts ahead of GDP, PCE dataThe US Dollar Index (DXY) is slowly declining as US markets prepare for the release of economic data this week.
Read more »