Macrocast report – Pesky Data by Gilles Moëc

Key takeaways:

1. Inflation Trends: Concerns over inflation persist, particularly in the US, where the Consumer Price Index (CPI) suggests challenges in disinflation.
2. Central Bank Responses: The Federal Reserve (Fed) and the European Central Bank (ECB) are debating the timing and extent of rate cuts, with market expectations aligning more closely with official projections.
3. Market Sentiment: Market sentiment has shifted, with less reaction to poor economic data, indicating a potential divergence from previous patterns.
4. Data Analysis: Analysis of recent data indicates concerning trends in core inflation, particularly in the services sector, which may impact central bank decisions.
5. Future Focus: The document outlines upcoming economic indicators and events globally, highlighting factors influencing central bank decisions and market dynamics.