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Coming up, cpi topping estimates for the third month in a row. Markets and the fed rethink geopolitical tensions complicate the direction for treasuries. We start with the feds inflation problem. The sound was the door slamming on the june rate cuts. Inflation. There is more inflation that people would like. Too much for the fed. It really complicates things for the fed. A very stubborn situation. No one is expecting june. Still holding onto the june call. It is a close call. You will have some rate cuts but it will not be what people expected. A rate cut in june seems to me would be a dangerous and egregious error. Right now, looking forward, we do not see any rate cuts. The fed is not going to be making any moves anytime soon. It really is a fascinating moment. Sonali it seems like just yesterday we were talking about june or july for the first moment for the rate cut you saw by the Federal Reserve but you can see by the chart ....
Things have changed, we have different numbers. New highs for 2024. The two youre getting closer to 5 two year. The quote of the last 24 hours around this desk, jp morgans david kelley, the sound of their slingshot on a june cut. Lisa stephen of standard charting, rbc, we are changing our fed call from 45 basis points to one of a duty five basis point move. Yesterday we saw the biggest self, the biggest yields since 2022 and it seems there might be more. Annmarie everyone is trying to revise. Starting to revise. This really seals the fate for the june fomc to push this further back. If we came into this year expecting when will the fed cut, and that is a matter of some people asking if the fed will have a cut in 2022 in 2024. Jonathan two big headlines crossing bloomberg earlier, triggers parenting rate cutlets to less than 25 basis points. Look at for exchange, the euro, 1. 07. The dollar having its biggest oneday since the banking stress of last spring. Dollar, 152. Never mind, it is ....
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Its high Interest Rates. North America Business correspondent Erin Delmorejoins Me now. Good to see you. Put a bit of contact around the numbers for us. Sure, so this is not the Inflation Report a lot of people were looking for because remember, we saw hotter than expected Inflation Injanuary and february today we see that data again in march. And not only is it higher than expected, but we are seeing this trend upwards. And thats not what the fed wants to see when they talk about Cutting ConfederatesInterest Rates this year. The expectation when wrapping up year. The expectation ....
Yesterday stocks had steady gains throughout the day the s p 500 snapped a threeday losing streak and the dow was up for the first time in three sessions overnight in asia, nikkei was up by 1. 4 . Hang seng positive, up by 1. 2 shanghai composite up by a half percentage point breaking news out of europe. Uk reached a brexit deal with the European Union willem marx has more on that story. Good morning good morning. This is good news for theresa may, the british prime minister, she can go back to london from brussels and present her cabinet and the country with evidence shes managed to get the conversation moved on to truck being britains future trading relationship with the European Union, a major factor driving that brexit vote last year in terms of the european side, theyre happy that some concerns have been addressed, specifically over the irish border neither side wanted t ....