UBS On-Air: Market Moves
CIO First Take: April CPI data & Market response
May 16, 2024
Join UBS CIO members as they discuss the April CPI data impact on markets, with insights on core CPI figures, market expectations, and GDP tracking. They explore inflationary prices, Fed's rate outlook, interest rate expectations, and market sentiments, including lower rate predictions' positive equity trends.
12:19
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Quick takeaways
- The core PCE inflation might round down to 2.10%, indicating potential rate cuts.
- Equity markets rallied to near all-time highs, balancing cooling inflation and Fed rate cut expectations.
Deep dives
Consumer Price Index Data Analysis
The April Consumer Price Index (CPI) data was discussed, highlighting a slight deviation below market expectations. While the headline CPI was slightly lower at 3.10% compared to a consensus of 4.10%, the core CPI met expectations. The data suggested that the core PCE inflation might round down to 2.10%, indicating a potential for rate cuts. Various factors affecting inflation, such as rising housing costs and declining car prices, were examined.
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