US economic data showed growth in the services industry there slowed further in March, indicating inflation is cooling, but not enough for the Federal Reserve to confirm when interest rate cuts can begin.
Global stock markets and bond yields are likely to be mixed on Wednesday (03/04/24) after US economic data showed growth in the services industry there slowed further in March, indicating inflation is cooling, but not enough for the Federal Reserve to confirm when interest rate cuts can begin. Fed Chairman Jerome Powell said most central bank officials agree that a rate cut could probably materialize at some point this year, but only after they have sufficient confidence that inflation is moving down sustainably towards the 2% target.
The 10-year US Treasury yield touched a 4-month high after data showed strong labor demand, thus fueling fears that the Federal Reserve will delay interest rate cuts.
Pemadanan Data NPWP
The three major US stock indexes closed in negative territory again, extending the sluggish start to Q2, with the DJIA leading the fall by 1% on Tuesday (02/04/24) while the 10-year US Treasury yield touched a 4-month high after data showed strong labor demand, thus fueling fears that the Federal Reserve will delay interest rate cuts.
An unexpected expansion in factory activity further confirmed the strength of the US economy and risked dashing investor expectations of a Federal Reserve rate cut in the near future.
The S&P 500 started the second quarter weakly on “April Fool’s Day” Monday (01/04/24) as a spike in US Treasury yields held back the bullish wave after an unexpected expansion in factory activity further confirmed the strength of the US economy and risked dashing investor expectations of a Federal Reserve rate cut in the near future.
The US economy grew faster than previously estimated in the fourth quarter, with data released Thursday morning showing gross domestic product (GDP) increased 3.4% at an annualized rate in the fourth quarter, revised up from the previously reported 3.2%.
THE FED’S PIVOT EXPECTATIONS & THE EASING INFLATION TREND SUPPORTED THE STOCK MARKET’S BRIGHT PERFORMANCE IN QUARTER 1.
