2nd May 2024

  • Fed Flags Lack of Inflation Progress But Signals Hikes Unlikely

Powell says Fed seeking more confidence on prices before cuts

Policymakers agree to slow reduction in bond portfolio

https://blinks.bloomberg.com/news/stories/SCTM7PT0G1KW

  • Fed to Slow Pace of Balance-Sheet Runoff Starting in June (1)

Central bank to lower Treasuries runoff cap to $25B, from $60B

Reduction was larger than market observers had expected

https://blinks.bloomberg.com/news/stories/SCTKHYT0G1KW

  • Jerome Powell Offered Markets a Reprieve. It Vanished in a Blink

Stocks, bonds popped after Fed chair says rate hike unlikely

Then the rally vanished as higher-for-longer reality dawned

https://blinks.bloomberg.com/news/stories/SCTO0ZT1UM0W

  • US Factory Activity Shrinks With Price Gauge Highest Since 2022

ISM factory index declined 1.1 points in April to 49.2

Measure of prices paid for inputs rose 5.1 points to 60.9

https://blinks.bloomberg.com/news/stories/SCT99ST0AFB4

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