Report
The Fed still rules the market
After an avalanche of macroeconomic figures published over the week and the Fed meeting in the spotlight, the financial markets yo-yoed this week. Despite the concerns expressed by the Federal Reserve about inflationary pressures, its statements were perceived as "dovish". It also ruled out any possibility of a further rate hike (indicating that the next move would be a cut), thereby limiting the potential for a rise in long-term interest rates. The signal was not very strong, however, as suggested by the very slight repricing of Fed Funds rate cuts to around 40bp over the year, with a possible delay in the timing of the first cut. The US employment cost index surprised on the upside in Q1, rising by 4.3% YoY. In Europe, core inflation also disappointed, slowing less than expected. This leaves the question of rate cuts open.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Inna Mufteeva
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