Treasury Yield Curve
Markets are looking to new Federal Reserve Chairman Jerome Powell for signals about the direction of interest rates. Expectations for three more rate hikes in 2018 remain the norm, taking short-term rates from 1.49% to approximately 2.25% by the end of the year. This will flatten the curve unless inflation lifts longer-term rates.
CPI—Annualized Monthly Reports
Once again, gains in energy prices drove the recent increase in U.S. inflation, aided by broad increases elsewhere. With labor markets tightening and tax cuts adding potential fuel to consumer spending, markets are getting more nervous about higher inflation trends.
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