- Stocks move higher and bond yields lower as interest rate expectations are further dialed in after Fed Waller yesterday spoke about seeing case for rate cut in several months if inflation takes on course, suggesting a move in H1 2024, alongside a significant drop in German states and Spain’s CPI readings, ahead of Germany’s national reading at 08:00 ET.
Today we have only tier-2 data. US existing home sales are expected to fall a bit further from an already low level as high mortgage rates weigh on housing demand.
Investors in Asia are facing steady declines after Jerome Powell's warning that interest rates might need to climb further, halting the rally in stocks and bonds and prompting investors to go dialling for dollars quietly.