According to Odaily, analyst Steve Goldstein has reported a positive initial market response to recent economic indicators. Both the stock market and bond market have seen an uptick. The S&P 500 futures rose from flat to up 0.5%, and the yield on 10-year U.S. Treasury bonds fell by 11 basis points.
The data shows that not only was the U.S. CPI month-on-month rate for April, after seasonal adjustment, recorded at 0.3%, lower than expected, but retail sales for April also did not grow. Following the release of the CPI data, the swap market is predicting that the Federal Reserve will accelerate its pace of interest rate cuts in 2024.
