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US Money Markets: Circumstances auger for terming out
It is a very close call whether the Fed will hike rates this year, but on balance, we think it will instead choose to look through a near-term energy spike and hold rates steady for an extended period. The low-hire, low-fire economy means weak wage growth, with real household disposable income having fallen for three consecutive months. Consequently, elevated energy costs risk demand destruction that should help to dampen core inflation in time. Consumer and market inflation expectations remain in tolerable ranges, and slowing housing rents, weak wage growth, a waning influence from tariffs and energy price falls ... (full story)
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From vtmarkets.com | 2 hr 55 min ago
Gold fell about 0.50% on Monday, with XAU/USD trading at $4,153, as firm US yields and a steady dollar limited a post-jobs data bounce even as markets pared expectations for a more hawkish Federal Reserve. The ISM Services PMI eased to 54 from 54.5; however, the Employment Index firmed and the prices paid gauge slowed to 67.7 from 71.3. Rate pricing ...
Economic activity in the services sector continued to expand in June, say the nation's purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 54 percent, the 24th consecutive month in expansion territory. The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® ...
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