Yields falling further and Powell cant stop them
Monday 4th December 2023
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When it comes to predicting rate cuts by the Fed, will the chair Jerome Powell be the last one to shift his position? During his \u2018fireside chat\u2019 on Friday he said it would be premature to assume they have achieved a sufficiently restrictive stance. As NAB\u2019s Taylor Nugent points out, markets clearly aren\u2019t paying too much attention, with yields falling sharply lower at the end of the week. Although there were two words in Powell\u2019s talk that could support the idea of cuts sooner rather than later. Meanwhile two central banks are expected to keep rates on hold \u2013 the RBA tomorrow and the Bank of Canada later in the week. And focus now switches to employment numbers, with US non-farm payrolls data out on Friday.
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