23 April 2024
The 2-year US Treasury yield briefly shot up to 5%, as investors await a number of important data including manufacturing data, preliminary first quarter GDP data, and the PCE price index data which is the Fed's favorite inflation benchmark, later this week.
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22 April 2024
Equity markets have struggled to sustain the five-month rally that started in November, partly due to expectations that the Fed will cut interest rates in the first half of the year.
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19 April 2024
Economic data and comments from Federal Reserve officials indicated that the US central bank is unlikely to cut interest rates in the near future. Economic data showed that the labor market remains resilient, as weekly jobless claims were unchanged from the previous week at 212,000 while the Philadelphia Fed Manufacturing Index (Apr.) rose to its highest level in two years, with a reading of 15.5 which was much higher than the estimate of 1.5 and 3.2 in the previous period.
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17 April 2024
Investors digested STATEMENT FROM FEDERAL RESERVE CHAIRMAN JEROME POWELL which signaled that high interest rates are still needed for a longer time, addressing March US Inflation data of 3.5% yoy which strengthened above expectations.
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5 April 2024
Market participants also digested statements from US President Joe Biden, who continued to voice the idea of a Gaza War ceasefire to Israeli Prime Minister Benjamin Netanyahu; which lifted Oil prices due to this increased geopolitical tension.
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