Bloomberg Surveillance
June Inflation Data Reaction; CPI and Jobless Claims
Jul 11, 2024
Economists Claudia Sahm and Randy Kroszner discuss June CPI readings and market impacts. Kate Moore explores market pricing of CPI data while Ira Jersey analyzes the Fed's rate path. The podcast delves into inflation data, monetary policy analysis, Fed actions, market outlook, treasury market reactions, and interest rate levels.
24:27
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Quick takeaways
- Lower-than-expected CPI data may lead to Fed rate cut in September.
- Tech advancements creating market divergence between innovative and lagging firms.
Deep dives
Inflation Report and Market Reaction
The podcast episode delves into the recent inflation report and its impact on the market. The inflation data revealed a disinflationary trend with CPI figures coming in lower than expected. This led to a positive market reaction, with yields on the two-year note and five-year note decreasing more than on the long end of the yield curve, indicating a potential Fed rate cut in September. The market responded favorably to the softer-than-expected inflation data, suggesting a possibility of multiple rate cuts in upcoming months.
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