We expect the release of ISMs and labor market data to rhyme with an increase in activity in May relative to April. The ECB meeting will likely be mostly about buying time after the (almost) pre-announced cut.
Steno Signals #95 – Is the next move a hike?
The market keeps lagging in this re-inflation cycle and while forward pricing and economists are backpaddling on 2024 expectations, the next battlefield is 2025. Could the Fed hike after the election?
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