457 days ago
The sentiment is rather downbeat this afternoon after higher-than-expected PPI data for January and the persistent tight labour market. Stocks extended losses, the dollar turned positive on the session and yields ticked up.
492 days ago
Global shipping costs are back to pre-covid levels. The cost of a shipping container from China to America’s west coast is down 93% from September 2021 peak. Today, all eyes will be on the US CPI reading. Core CPI is estimated to rise by 5.7% YoY and 0.3% MoM. A softer print could help ease financial conditions further and reinforce current risk-on sentiment. Stocks are higher in pre-market.
495 days ago
The focus of this week will be Fed Chair Powell's speech on Tuesday, followed by US CPI on Thursday. And Friday will mark the beginning of earnings season with mostly big US banks reporting. It will also be the start the blackout period.
498 days ago
European natural gas prices have tumbled since their highs of Summer 2022. December 2023 futures contracts are down 45% from early December 2022. This is encouraging for the battle against inflation. It is positive for European growth perspectives, increasing the odds of a stronger euro and resilient European stocks and bonds.
506 days ago
There are increasing signs that US inflation is rolling over. But investors are worried that it will not fall fast enough to deter central banks from aggressively hiking interest rates and pulling back liquidity in the system. Investors face the effects of higher interest rates and at the same time the threat of a recession that could see earnings contract and valuations come down even more. US CPI for December will be released on January 12th.
