Macro Horizons
On Tee for N.F.P.
May 31, 2024
Ian Lyngen, Ben Jeffery, and Vail Hartman discuss the U.S. Rates market and potential rate cuts by the Fed. They analyze consumption trends, inflation, treasury market movements, and investor behavior, highlighting the factors influencing rate decisions and treasury yields.
20:18
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Quick takeaways
- Core inflation remains above 2%, no urgent need for Fed rate cuts.
- Market anticipates trading range, awaiting clarity on potential rate cuts from key events.
Deep dives
Fed's Economic Insight from PCE Figures
The recent PCE figures for April indicated stability with core PCE in line with market expectations. Although core inflation remains above 2%, there is no urgency seen for rate cuts by the Fed. Disappointing consumption and retail sales figures suggest challenges for the consumer, highlighting risks for the economic outlook.
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