Friday’s PCE report contained some good news for the Fed. The core deflator (ex-food & energy) rose 0.48% m/m in May. The core CPI (ex-food & energy) was up by…
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The FOMC has flattened the Treasury yield curve this week. Whether that was the Fed’s intention is not clear. Officials may have preferred a bigger reaction at the long end…
Market expectations for short-term interest rates have risen in the UK this week. The strong CPI print for May and the labour market data may push the BoE to follow…
Online job advertisements in the UK rose another 1.9% in the week to June 4th, according to the ONS. On this measure, vacancies are now 28.9% above February 2020 levels….
The Fed will be keen to avoid a taper tantrum. But a smooth exit may not be possible given the huge borrowing demands of the US Federal government. The accumulating…
Watch wages like a hawk should be the current mantra of policymakers. The key number is not employment, but wages. The payrolls miss (up 559k) on Friday was largely inconsequential,…
The promotion of the Chinese Central Bank Digital Currency is linked to Beijing’s resolve to extend the internationalisation of the RMB. Zhou Chengjun, director of the People’s Bank of China’s…
