Stocks Despite the higher than expected inflation rate and job data, there was a small rebound. Yields The rise Bond Prices fell, which led to a slight unwinding of some of these. month’s hefty selloff. Data revealed that The labor market remains historically tight. Initial jobless claims (a proxy for layoffs) fell by 3,000 last week to a seasonally adjusted 192,000. This is far below the 2019 pre-pandemic median. At least for now, it appears that the Fed’s hawkishness is overrated and that the market is ready to fight inflation. Traders now see a 27% chance The Fed could raise rates by half the amount it did last month, up from 1.3%.
- USD Index The weather is still choppy and holds the 104.00 Level for a third-day, but is not its 104.68 Overnight high
- JPY To be rallied 135.36 ahead of Friday’s hearing in the lower house of parliament on the nomination of Kazuo Ueda as the next BoJ governor, and after current BoJ Governor Kuroda said the Bank plans to maintain its accommodative stance, but it has fallen back to 134.00. Currently settled at 134.80.
- Stocks – With the increase in stock prices, stocks are more solid. US500 And US100 Up to 0.6%While the US30 It is 0.45% higher. A pop in Nvidia (+14%) After an earnings…