Global Long-Term Rates Down & CPI Monthly Indicator Today
Growing political unpredictability in the U.S. and easing interest rates globally continue to put downward pressure on the yield curve.
The U.S. 10-year yield fell by 8 basis points overnight, and interestingly, despite safe-haven buying, the U.S. dollar is down.
This raises the question of whether all the disruptive tariff talk and uncertainty may be driving investors away from U.S. exceptionalism.
Today, markets will digest the first CPI print for the quarter. This data point is often taken with a grain of salt, as it does not capture the full basket and is overweight towards the goods component.