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 8
Highlights and View
-
The US unemployment rate ticks
down to 4.3% while headline
inflation slows to 2.4% YoY
A stronger labour market and fading inflation is a benign environment for stock markets though investors remain cautious. -
Government bonds rally on the
back of soft activity and inflation
data, with equity market volatility
also contributing
Further downside to yields is likely to be limited as economic activity is set to remain resilient while prospects for further rate cuts are restricted. -
JGB yields tighten across the curve
following emphatic election victory
of PM Takaichi in Japan
The market had expected expansionist policies to necessitate further debt issuance, however cutting the supplementary budget seems to have firmed as an appropriate remedy, thereby easing concerns about the bond market.
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