Something is giving, and its the pace of the US economy
Wednesday 29th November 2023
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Bond yields pushed lower as markets continue to expect rate cuts by the Fed next year. Tapas Strickland says NAB\u2019s own modelling based on recent data supports significant cuts next year. The Fed\u2019s Chris Waller, who had previously flagged concern about the pace of growth saying \u201csomething\u2019s gotta give\u201d. Now he\u2019s saying it\u2019s the pace of the economy that is giving and the Fed is in a good place to return inflation to 2%, eventually. Comments like that have helped push bond yields lower. Today the focus is on the first bits of CPI data from Europe, and Australia\u2019s monthly CPI read.
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