The picture outside Japan also looks clearer than it did 12 months ago. Whereas traders last year were talking about US interest rates likely peaking in 2023, projections this month from Federal Reserve policymakers point to 75 basis points of cuts in 2024.
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Of all the brand lines I've reviewed, none's sound has changed as much over time as Esoteric's top-tier Grandioso series. When I first encountered Grandioso setups at shows, they consistently sounded dark. That in itself is not necessarily bad; the darker presentations of some concert venues and hi-fi systems often enhance detail. But I prefer my music more illumined, with all the color and brilliance that instruments and voices can offer. And over the last three years or so, Esoteric's sound has become better lit, as though a 40W bulb was replaced by a 75W bulb.
The dollar extended gains Friday on expectations the Federal Reserve will press ahead with its programme of bumper interest rate hikes for the rest of the year.