Stock futures fell and bond yields rose after a hot gauge of labor costs reinforced speculation the Federal Reserve will be in no rush to cut interest rates.
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The US Treasury is set to keep its sales of long-term debt steady in a new plan this week, with the government expected to get relief soon from the Federal Reserve’s rapid run-down in its securities holdings.
A run of hot US data and a string of hawkish remarks by Fed Chair Jerome Powell has led our colleagues in the US to ax two cuts from the Bloomberg Economics forecast for the federal funds rate this year.
The world’s financial markets are encountering a force they didn’t bet on for 2024: A strong dollar is back and looks set to stay.
Economists once again upgraded their forecasts for US growth, spending and employment, but also see interest rates remaining higher for longer as above-target inflation persists.
Initial jobless claims for the week ended April 13 — which coincides with the survey week for the month’s employment report — suggest a low rate of firing.
Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.
Federal Reserve Vice Chair Philip Jefferson said he expects inflation will continue to moderate with interest rates at their current level but persistent price pressures would warrant holding borrowing costs high for longer.
Stocks kicked off the week on a positive note, while bonds fell as data showed economic resilience and speculation grew that the Middle East conflict remains contained.
Investors wagering on an extension of last year’s global bond gains have been served a harsh reality check.