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Weekly Markets Monitor: A season for Kevin?
Last week saw diverging data and policy action: the ECB and Nordic banks held rates, the BoE cut, and the BoJ hiked. In the US, jobs rebounded and inflation eased, but consumer spending and housing remained tight, while China’s economic momentum slowed. Global equity markets ended mixed, while US Treasury yields fell and both the US dollar and oil edged higher. There is a tight race between the two front runners for next Fed chair: Kevin Hasset and Kevin Warsh. Both are deemed more dovish than the incumbent, but with Hassett likely more politically aligned with the White House and Warsh more institutionally ... (full story)