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Not there yet

After several Fed member speeches this week where they have tried to calm investors, sometimes with contradictory messages, regarding inflation and future rate cuts, oil continues to reach higher, and that is starting to show at the gas pump, which in turn affects, from the supply side, overall inflation. Additionally, today at 8:30 am, US unemployment will be published, and if it remains strong below 4%, as expected, paired with higher oil prices, is going to give the Fed a hard time to lower rates. The market is starting to realize the fact that #ratecuts are not assured this year, and that’s also what have permeated from J Powell speech this week. The intention and willingness are there, but the conditions are not. Repricing might be necessary.

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