Markets Ignore Waller's Very Dovish Musings

Markets shrug off comments about future rate cuts

Highlights

• Markets shrug off comments about future rate cuts

• AI investment is the key support to growth right now — not consumers

• In gold terms, U.S. equity returns are weak this year

• 10-year T-note yields are testing key resistance level

Key Takeaways

• Waller Pushes for Multiple Rate Cuts Ahead: Fed Governor Waller’s very dovish comments last night — that the Fed will cut rates next month and keep on going — have done nothing for the markets, at least thus far. U.S. futures are in the red, and bond yields are up fractionally ahead of today’s key core PCE deflator data.