Is the Yen Carry Trade Become A Headwind on Markets?
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What’s in Today’s Report:
- Is the Yen Carry Trade Become A Headwind on Markets?
Futures are seeing a solid bounce following a mostly quiet night of news as investors look ahead to (hopefully) another good inflation report.
Earnings remained broadly mixed overnight (some good, some bad) but none of the results are impacting markets.
There was no notable economic data or geo-political events overnight.
Today the focus will be on the Core PCE Price Index (E: 0.1% m/m, 2.5% y/y) and if this number is better than expected (or even dead in-line with expectations) that will remind investors that rate cuts are coming soon (September) and that should help extend this early rebound in stocks and bonds.
Earnings roll on although next week is, by far, the most important week of the season. Reports we’re watching today include: BMY (E: $1.64), MMM (E: $1.66) and CNC (E: $2.42).
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