January 9, 2024
United States:
US Consumer Inflation Expectations Fall to Lowest Since January 2021
US consumers’ near-term inflation expectations declined in December to the lowest level since January 2021, according to a Federal Reserve Bank of New York survey released Monday.
Median year-ahead inflation expectations fell for a third month to 3.0%, down from 3.4% in November. Expectations for price growth at the three-year and five-year horizon also declined to 2.6% and 2.5%, respectively.
Europe:
Europe Debt Demand Smashes Records in Busiest Day of Sales
Europe is having its busiest day ever for primary bond market issuance, with demand for government bond sales breaking new highs.
A record of at least €43 billion ($47 billion) of new publicly syndicated debt from financials, corporates and public-sector borrowers is set to price on Tuesday, with the final total likely to be higher as further deals set their sizes, according to data compiled by Bloomberg. At the same time it has been the busiest day for government bond auctions so far this year.
Asia:
China Hints at More Easing With Possible Reserve Ratio Cut
China’s central bank signaled that it’s prepared to keep policy loose by lowering the amount of money banks must keep in reserve, reinforcing expectations among investors of more easing to come.
The People’s Bank of China will use a variety of tools to provide “strong support” for a reasonable growth in credit, said Zou Lan, head of the central bank’s monetary policy department, in an interview with Xinhua News Agency late Monday. He highlighted “reserve requirements” as one option, suggesting policymakers have considered trims to that ratio as a way to boost lending capacity and bolster credit.
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