The Federal Reserve embarked on an easing cycle, despite unprecedented fiscal deficits, a solid labour market, and core inflation settling well above target. As a result, it made sense to…
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UK long-term borrowing costs are nearing the highest levels in more than a quarter of a century, in the wake of the Autumn budget, as the bond market braces for…
The gradual tightening of the Japanese labour market remains intact: this should continue to put upward pressure on wage growth, inflation and JGB yields in 2025, as it did last…
Stocks rose alongside bond yields last year, because the Fed cut rates into a strong economy. The 10-year US Treasury yield increased 70 basis points in 2024, ending the year…
The Fed will cut rates by a quarter point this week. But with core PCE inflation settling around a percentage point above target, the new economic projections should be used…
The bull case for the US economy, and the stock market, this year has been outlined on numerous occasions. Clearly, many of the important factors that drove US equity markets…
The uptick in the unemployment rate should not detract from what was otherwise a solid payrolls report. Non-farm payrolls climbed 227k in November, and the average 3-month change firmed to…
