December 9, 2024
United States:
Bond Traders See Inflation Data Key to Timing Next Rate Cut
Bond traders are hoping to coast to the end of a volatile year — unless a surprise jump in inflation throws them another curve.
Treasuries extended their recent rebound on Friday after the monthly jobs report indicated the labor market is cooling enough to allow the Federal Reserve to cut interest rates again at the end of its meeting on Dec. 18.
Europe:
ECB to Cut Faster in Bid to Revive Flagging Economy, Poll Shows
The European Central Bank will cut interest rates more rapidly than previously envisaged to perk up an economy facing weaker growth and inflation, a Bloomberg survey showed.
Respondents predict a quarter-point reduction next week and at every policy meeting through June — taking the deposit rate to 2%. Earlier, they only saw that level being reached a year from now.
Asia:
Japan’s Economy Shows More Resilience as BOJ Mulls Hike Timing
Japan’s economy grew at a faster pace than initially estimated, indicating more strength in the recovery as the central bank parses data ahead of a policy decision later this month.
Japan’s gross domestic product grew at an annualized pace of 1.2% in the three months through September from the previous quarter, the Cabinet Office said Monday.
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