Macro Minutes - RBC Capital Markets macro and market strategy series – explores the latest financial
The ECB delivered another cut today and there is more to come, the BoC is primed to start cutting in
The Fed delivered a super-sized rate cut to the start of the cycle last week. More likely they go ba
With the Fed and ECB set to follow the BoC’s lead with 25bp cuts of their own, a number of the major
There are nuances in every economic cycle but this one continues to feel different. Central banks ar
We have seen very large market moves triggered by the US labour market report over the last few days
Markets have been pricing more rate cuts again on the back of somewhat weaker data releases, specifi
Two G7 central banks have already cut – the ECB & BoC . Both should cut more as the year progres
The BOC and ECB both kicked off long-awaited cutting cycles last week with questions about the depth
Two developed market central banks have already cut - Riksbank and SNB - and the BoC, ECB and BoE sh
Markets have been ultra-sensitive to data for some time now, going back to market pricing for hikes
The latest resilience in the US has kick started a debate about how much other regions that appear t
Expectations for Fed rate cuts this year are wavering as US economic data continues to come in hot.
The question on everyone’s mind is when central banks will start cutting rates. Over the past month,
While markets are parsing through central bank communication for the timing and pace of rate cuts, t
It appears that markets have retraced some of their expectations for central bank action much closer
Markets came into 2024 pricing in aggressive central bank cutting cycles. But continued resilience i
The narrative from central banks has decidedly shifted from the risk of further tightening to signal
Focus continues on the timing and depth of central bank rate cuts as they try to engineer soft landi
Bond markets and equity markets have rallied sharply at the tail end of 2023 essentially based on a
As 2023 comes to a close, we shift focus to what to expect in 2024, with year-ahead outlooks release
