Sun 26 Feb 2023 at 10:31pmJust when the markets thought it might be safe to speculate on an interest rate peak…, which was the strongest month since April 2021, when a range of government payments were made.prices jumped a stronger-than-expected 0.6 per cent for the quarterexcluding food and energy was 4.7 per centNAB's Rodrigo Catril said the annual increase was 0.4 of a percentage point above market expectations.
"The reality is that the US economy has started 2023 from a stronger position that many of us had expected and, when we look at the Fed's new preferred inflation reading that tries to exclude much of the noise in the data, the story doesn't change," he wrote. "The PCE services ex-energy, rose 0.58%, the biggest increase since November 2021, service inflation is sticky and there is no clear evidence of a nascent downtrend. Thus, the conclusion must be that the US economy is running hot and there is a need/urgency for the Fed to do more.
"Unsurprisingly, reaction to the US data triggered an uptick in Fed rate hikes expectations over coming months. Cumulatively the market now sees 82bps [basis points] of hikes priced over coming months, suggesting three full 25bps hikes and a chance of a fourth, early in the second half. The Fed terminal rate is now seen at 5.40% with rate cut expectations by December 2023 reduced to 12bps to a funds rate of 5.28%.".
Covid was likely released to do just this. China and USA for in too much debt and they worked together in gain of function research to ensure they had a way to crash the economy to make the rich richer and the people poorer
No worries, Putin is on the ropes!
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ASX LIVE: Australian shares to fall on rising US peak interest rate betsAustralian shares are poised to open lower; Woodside, Appen, Downer to report; hot US inflation data sinks $A; bond yields jump. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »