One dot already beaten by the data
Friday 14th June 2024
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You might have expected that bond yields would start creeping back up again after the Fed\u2019s hawkish \u2018one dot plot\u2019 meeting yesterday. Instead yields fell, as the latest producer prices echoed the softness in the CPI read before the Fed. JBWere\u2019s Sally Auld says it feels like price pressures, after a hot start to the year, are starting to cool a bit. So, does that mean the Fed\u2019s predictions of just one rate cut this year are already out of date, just one day later? There\u2019s also a discussion about share, currency and bond movements in Europe, the take-outs from yesterday\u2019s Australian labour market data and what to expect from the Bank of Japan today.
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