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HomeEconomicsMacro Briefing: 28 August 2023

Macro Briefing: 28 August 2023


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* Inflation “remains too high,” says Fed Chairman Powell
* World’s central bankers unsure if rates high enough to tame inflation
* Fallout from China slowdown is probably limited for US economy
* Shares in Evergrande (crisis-hit Chinese developer) crash as trading resumes
* US government shutdown risk for autumn appears to rising
* US home prices have bottomed and will rebound in 2024, predicts Zillow
* Inflation and jobs are in focus for this week’s US economic updates
* Rally in US large-cap growth stocks looks overbought, says RBC analyst:

US 10-year Treasury Note may be at risk of an unprecedented third straight year of loss. The price of this widely followed government bond is currently down 1.2% year to date, due to rising interest rates. Bond prices and yields move inversely. If the price of the 10-year Note ends the year in the red, the decline will mark the first trio of three straight annual losses in the security’s history, which is nearly 100 years.

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