Highlights
The Chinese consumer is stirring, but markets aren’t convinced
Powell gave the first hint of a potential policy pause
The 3-month T-bill yield is looking increasingly attractive
Has the “Trump Bump” run its course?
Key Takeaways
Powell Signals Potential Pause, Shifting Market Expectations
Powell gave the first hint of a pause yesterday, reversing a rally in Treasuries and prompting swaps markets to take the odds of a cut in December below 50%.
