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Breakfast Bites - Bond Yields rising
Markets remain choppy; Nvidia keynote ahead; Signs of inflation return to Europe
Ayesha Tariq
January 06, 2025
Rise and shine everyone.
We closed out 2024 on a bumpy note, but the market seems to be shifting slightly with the start of 2025. Nevertheless, we’re watching long-end bond yields and the 10Y staying above the 4.5% mark is never a good thing. Mayhem points out: “Evercore goes on to suggest that above 4.75% means a deeper correction and above 5% means "hurricane force winds", a view that I agree with.”
What we’re also watching for this week are the unemployment numbers with various data being released throughout the week, and NFP on Friday.
The big news this morning on Bloomberg was Justin Trudeau’s fall from grace, as sources suggest that he is considering resigning later this week. Nothing has been confirmed as yet but, this can’t be great for the economy there. Quarterly GDP growth continues to remain below 1, and pulled back to 0.3% for the third quarter of last year.
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