RBA to cut before Fed

David Llewellyn-Smith

Thursday, 11 April 2024

Fed rate cuts got savagely repriced after the hot CPI. June cuts are gone and we are down to just 1.5% of cuts in 2024:

For the first time in ages, this is now similar to rate futures in Australia:

Negative yield spreads to US are blowing out:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.