US Treasury bond yields are firm, with the 10-year Treasury note yield flat at 4.261%.
S&P Global Manufacturing and Services Flash PMIs in June expanded above estimates. The Manufacturing PMI rose to 51.7, up from 51.3 and exceeding the estimate of 51. The Services PMI increased from 54.8 to 55.1, surpassing the forecast of 53.7.
US Existing Home Sales in May were lower than expected, falling to 4.11 million from 4.14 million in April, representing a contraction of -0.7%.
Fed officials advised patience regarding interest rate cuts, emphasizing that their decisions would remain data-dependent. Despite last week's positive CPI report, policymakers reiterated the need to see more data similar to May's before considering any changes.
Despite the US CPI report showing that the disinflation process continues, Fed Chair Jerome Powell commented that they remain “less confident” about the progress on inflation.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.