Sovereign Bond Yields Moved Up
Sovereign bond yields moved up ahead of a number of central bank meetings this week, one of which may end the era of negative interest rates in Japan, and the other sets the path for US interest rates this year.
Daily Report | 19 March 2024
Global stocks moved in positive territory on Monday trading (18/03/24) while sovereign bond yields moved up ahead of a number of central bank meetings this week, one of which may end the era of negative interest rates in Japan, and the other sets the path for US interest rates this year.
Weekly Report | 18 March 2024
THE US HAS COMPLETED THEIR INFLATION DATA AND CAME TO THE CONCLUSION THAT IT LOOKS LIKE INTEREST RATES ARE HIGHER FOR LONGER.
The Dollar Rose and Was On Track for Its Strongest Week
The dollar rose and was on track for its strongest week since mid-January, as U.S. inflation data has led to new hopes for interest rate cuts. Data on Friday showed U.S. import prices increased marginally in February as a surge in the cost of petroleum products was partially offset by modest gains elsewhere, suggesting a heating up inflation picture.
Daily Report | 18 March 2024
A gauge of global stocks fell on Friday (15/03/24) and was set for a weekly decline that would snap seven straight weekly gains, while the dollar rose and was on track for its strongest week since mid-January, as U.S. inflation data has led to new hopes for interest rate cuts.
US PPI Data Turned Out To Be Hotter Than Expected
US PPI data turned out to be hotter than expected as gasoline and food costs increased, making investors rethink that the Federal Reserve may wait even longer to cut interest rates. Inflation at the US producer level rose 1.6% yoy in Feb (above expectations of 1.1% and the previous month’s 1%) and 0.6% on a monthly basis, double the last reading of 0.3% in Jan.
Daily Report | 15 March 2024
US stock markets were hit by a sell-off as the DJIA broke a 3-day consecutive uptrend and instead led the decline by shedding 0.35% or 137 points to 38905.66, as chipmakers continued to lose ground for a second day, while US PPI data turned out to be hotter than expected as gasoline and food costs increased, making investors rethink that the Federal Reserve may wait even longer to cut interest rates.
The Public Has Expected The Federal Reserve to Hold Interest Rates
The public has expected the Federal Reserve to hold interest rates in place at their meeting next week, market participants see a 65% chance that the first rate cut will occur in June, according to the CME FedWatch Tool survey.
Daily Report | 14 March 2024
The Dow Jones Industrial Average closed slightly higher by 0.1% on Wednesday (13/3/24) and recorded its third consecutive day of victory on the back of Energy stocks, while the S&P500 and NASDAQ posted declines as investors took profit on shares of chipmakers such as Nvidia & Intel, ahead of the release of producer-level Inflation data and other economic indicators before the upcoming FOMC Meeting on March 19-20.
