Weekly Macro & Markets View
What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?
Weekly Macro and Markets View, Week 34
Highlights and View
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In the US, receding inflation rates make a near-term rate hike increasingly unlikely
Fading price pressure and a softer employment market show that there is no urgency for tighter monetary policy. -
Government bond markets remain under pressure despite easing concerns around US inflation, with weakness led by the long end of the curve
Rising real yields and renewed energy price pressures are pushing government bond yields higher, with conditions set to remain volatile near term. -
US municipal bonds rebound in August after a sharp sell-off in July, outperforming Treasuries and corporate bonds
Munis have had a good run this year, but headwinds are rising from a technical supply/demand persepctive as fund flows are moderating despite continued heavy supply.
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