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Strategies & Market Trends : Humble1 and Swing Trading Friends
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From: humble15/29/2024 8:19:34 AM
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Max Beige Book/PCEI anxiety after Crazy Eyes Kashkari’s rate hawk rant:

The release of the Fed's Beige Book later Wednesday could shed more light ahead of Friday's reading on PCE, the central bank's preferred inflation gauge.

Yields climbed higher Tuesday after a Treasury Department auction of 5-year notes worth $70 billion saw low demand. The bid-to-cover ratio, which is a closely watched demand gauge, came in at 2.3, below the 10-auction average of 2.45.

Investors also considered how the economy is faring and awaited fresh economic data due throughout the week which could inform Federal Reserve policymaking.

That includes the personal consumption expenditures price index on Friday, which is the Fed’s favored inflation gauge. Several Fed officials are also due to give remarks this week, which investors will be scanning for fresh hints about the path ahead for interest rates.

Minneapolis Fed President Neel Kashkari in Tuesday told CNBC that he was looking for “many more months of positive inflation data” before being comfortable with cutting rates.

Fed officials have in recent weeks widely indicated that patience is needed when it comes to rate cuts, and that they are looking for economic data to show inflation is sustainably returning to the central bank’s 2% target before moving to ease policy.
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