Key Points
Fridays robust U.S. payrolls report has already delivered a setback to easing hopes and any upside surprise on consumer prices would challenge bets for a rate cut as soon as September...
Asian shares crept higher on Monday as investors braced for a week where U.S. inflation data will test wagers the next move in interest rates will be down, while worries about a possible credit crunch weighed on the dollar..
Later Monday, the Federal Reserves survey of loan officers will draw an unusual amount of attention as markets seek to gauge the impact of regional banking stress on lending...
While the S&P 500 is up almost 8% for the year so far, all of that is due to just five mega stocks which have collectively risen by 29% so far this year and trade at a 49% premium to the rest of the index.. Bond markets were still stinging from the strong payrolls report with U.S. two-year yields up at 3.95% after briefly getting as low at 3.657% last week..
The euro was holding at $1.1018 on Monday, just short of its recent top of $1.1096.While it is premature to get too beared up on the dollar until a clearer peak in U.S. rates is seen, the U.S. banking sector travails that have no easy/costless solutions, continue to make for a mildly bearish medium-term story, said Alan Ruskin, head of global FX strategy at Deutsche Bank...
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