In today’s briefing:
- CX Daily: Verdict Reversal in High-Profile Murder Stands Out Amid Exoneration Trend
- The Moment of Truth for Markets
CX Daily: Verdict Reversal in High-Profile Murder Stands Out Amid Exoneration Trend
In Depth: Verdict reversal in high-profile murder stands out amid exoneration trend
China’s local governments sell assets as fiscal income slumps
Trending in China: Defense of China’s centuries of isolationist policies sparks debate
The Moment of Truth for Markets
Understanding what the bond market is pricing across its many dimensions is not useful because it tells us what’s going to happen – actually, its predictive abilities aren’t always great.
Exactly one year ago, fixed income markets were expecting the Fed to hike by 25 bps in 2022 – instead, only 8 months in the Fed has already delivered 225 bps worth of hikes and another 100+ bps are highly likely.
It’s instead a very useful exercise because the bond market is the biggest and most liquid building block of the ‘‘global markets pyramid’’, and as such fully grasping its multi-dimensional signals is crucial to understand where consensus lies.
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