Daily Market Commentary

January 12, 2018

Treasuries slump, sending 2Y yield above 2% for first time since September 2008 and 5Y to highest since 2011, after December CPI data showed 0.3% rise in core prices, matching biggest increase since the financial crisis

The underlying pace of U.S. inflation unexpectedly accelerated in December amid increased housing costs, reinforcing the outlook for the Federal Reserve to raise interest rates several times in 2018.

China’s credit growth ended 2017 on a weak note, with a 1.140 trillion yuan haul for total social finance markedly below both November’s total, and December expectations.

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