31 Aug 2023

Risk appetite remains relatively strong after a series of data releases – including today’s spending and inflation numbers – helped bolster bets on a “soft landing” in the US economy that could convince the Federal Reserve to keep interest rates at prevailing levels for an extended period. The major North American equity indices are inching higher, Treasury yields are climbing off three-week lows, and commodity prices are enjoying a brief period of respite, even as the dollar – symbol of American economic outperformance – pushes higher against its major counterparts. North America American consumers spent more than expected last month, defying...