Note

Daily digest market movers December rate cut hanging by a thread

hagijeee
· Views 45


  • The Mortgage Bankers Association (MBA) kicks off this Wednesday’s calendar at 12:00 GMT  with its weekly Mortgage Applications tracker. Last week, applications fell by a steep 10.8%. 
  • The US Consumer Price Index (CPI) release for October is due at 13:30 GMT:
  • Monthly headline inflation is expected to remain stable at 0.2%, and the yearly reading is expected to tick up to 2.6% from 2.4%.
  • Monthly core inflation is expected to remain unchanged at 0.3%, with the yearly figure also stable at 3.3%.
  • Five Federal Reserve members are set to speak out this Thursday:
    • Federal Reserve Bank of Minneapolis President Neel Kashkari is interviewed on Bloomberg TV at 13:30 GMT.
    • Near 14:30, Federal Reserve Bank of New York President John Williams delivers welcome remarks at the Academy for Teachers Master Class in New York.
    • Federal Reserve Bank of Dallas President Lorie Logan delivers opening remarks at the ninth joint energy conference hosted by the Federal Reserve Banks of Dallas and Kansas City near 14:45 GMT.
    • Federal Reserve Bank of St.Louis President Alberto Musalem delivers a speech and participates in a Q&A session about the US economy and monetary policy at the Economic Club of Memphis at 18:00 GMT.
    • Around 18:30 GMT, comments are expected from Federal Reserve Bank of Kansas City President Jeffrey Schmid, who delivers a keynote speech at the ninth joint energy conference hosted by the Federal Reserve Banks of Dallas and Kansas City.
  • Equities are looking for direction after their lacklustre performance on Tuesday. Marginal gains and losses are seen in both the European and US equity markets. 
  • The CME FedWatch Tool is pricing in another 25 basis points (bps) rate cut by the Fed at the December 18 meeting by 62.4%. A 37.6% chance is for rates to remain unchanged. While the rate-cut scenario is the most probable, traders have pare back some of the rate-cut bets compared with a week ago.
  • The US 10-year benchmark rate trades at 4.41%, after briefly ticking 4.45% this Wednesday in Asian trading. 


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.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related