Bassanese Bites: CPI hurdle ahead – February 12 2024
Global markets
The US S&P 500 rose further last week – the fifth weekly gain in a row and a new record high, closing above the psychological 5,000 level. It remains in a strong uptrend.
US 10-year bond yields ticked up from 4.02% to 4.17%, however, and remain in a gradual uptrend since bottoming at 3.86% in the week-ending December 25 – as strong US economic data has reduced the chance of a near-term US rate cut. Associated with the rebound in bond yields has been a firmer US dollar, which has lifted 2.8% since Christmas. In turn, that’s seen the $A drop from around US 68c to US65c.
