US economic newsflow consistent with Fed rate hike in June
Ms Yellen has made it clear that the Fed's decision to start a new rate hike cycle will be data dependent. To get the timing right, a crucial question is whether US economic momentum remains convincingly strong.Societe G…
Ms Yellen has made it clear that the Fed's decision to start a new rate hike cycle will be data dependent.
To get the timing right, a crucial question is whether US economic momentum remains convincingly strong.
Societe Generale notes in a report on Wednesday:
Labour market conditions have clearly improved in recent months. In this context, we read the latest drop in the ISM index as a correction of an earlier, dubious, rise in the ISM not captured by our newsflow indicator.
Only now, after a fall of several months, our US newsflow indicator has slightly improved, supporting the Societe Generale scenario that calls for a first rate hike in June.
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