Santa Rally continues, bolstering risk-sensitive currencies
Markets are pushing higher this morning as investors continue to front-run rate cuts, largely ignoring the protestations of Federal Reserve officials themselves. Equity futures are pointing to a stronger open, Treasury yields are down, and the dollar is slipping against its major rivals even after the Atlanta’s Fed’s Raphael Bostic said “I’m thinking inflation is going to come down relatively slowly in the next six months, which means there’s not going to be urgency for us to pull off our restrictive stance”. Richmond’s Thomas Barkin told Yahoo Finance policymakers would “respond appropriately” to slowing price growth, but warned “I’ve got...