United States: It Felt Like Much Longer than a Week It was a week of contradiction, where just when things looked like they were going badly, some mitigating factor offset a prior concern.
Summary United States:It Felt Like Much Longer than a Week It was a week of contradiction, where just when things looked like they were going badly, some mitigating factor offset a prior concern. By Friday, it felt more like survival than victory. The takeaways include an improving backdrop for manufacturing and construction, a little less heat in the service sector and a jobs market that refuses to fit into a tidy label.
Elsewhere, the Reserve Bank of India delivered its first rate cut since 2020, lowering its policy rate by 25 bps, and the Bank of England also cut its policy rate by 25 bps. Next week: Norway CPI , Brazil Inflation , U.K. GDP Credit Market Insights:The Wave of Credit Tightening Is Quickly Receding Banks appear to be changing their risk calculus.
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