In a year supposedly filled with central bank interest rate cuts around the world, the prospect of another G10 policy tightening amid fresh strains of...
File photo illustration of South Korean won, Chinese yuan and Japanese yen notes seen on U.S. 100 dollar notesIn a year supposedly filled with central bank interest rate cuts around the world, the prospect of another G10 policy tightening amid fresh strains of stubborn inflation is just a bit jarring.
With a mixed bag of U.S. economic updates this week, the overseas price picture may feed greater caution ahead of PCE release. So far, the paper has sold with ease. Some $69 billion of 2-year notes were snapped up on Tuesday at a high yield of 4.706% - about 5 basis points below where they were trading at the close of bidding.
China's offshore yuan weakened to a fresh seven-month and has now lost almost 3% since the start of the year. Dollar/yen, meantime, nudged further into what traders consider intervention territory as it topped 160 for the first time since the Bank of Japan last stepped in April. The central bank will publish the results of its bank "stress tests", which assess how much cash lenders would need to withstand a severe economic downturn and how much they can return to investors via dividends and share buybacks.* European Central Bank chief economist Philip Lane speaks
Mike Dolan Michelle Bowman Global Markets Deutsche Bank Reserve Bank Central Bank Bank Of Canada PCE Inflation Gauge
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