For the Fed, ‘one and done’ is a reasonable scenario from here, given the recent inflation prints in the US (and China). But there remains a high bar to rate…
Tighter bank lending standards have not hit the US corporate bond market. The NAHB housing market index climbed again, from 50 in May to 55 this month. Some prospective buyers…
Treasuries failed to stage major rally, even after encouraging CPI/PPI data and elevated initial claims. Breakeven inflation rates not falling, because they have already priced perfect disinflation (pages 2-10) Another…
Nationwide core inflation hit a new high in April of 2.53% (pages 6 – 9) Core inflation rose further in May for Tokyo, edging up to 2.40% (pages 10 –…
2-year US Treasury yield highest since March 10th. Curve inversion deepens between 10-2 years (pages 2-4) No inflation risk priced into break-evens (page 5) Real yields holding above 1.50% across…
US core CPI inflation stuck above 5.0% (pages 3 – 9) Conference Board’s jobs gap dips in May (page 10) But US consumption strong at start of Q2 (pages 12…
