Fed speak on this weeks radar
• Diverging markets. US yields rose & the S&P500 dipped after US producer prices exceeded expectations. However the USD eased. AUD at ~$0.6530.• Holiday data. High frequency data & reports suggest Chinese spending & travel exceeded pre-COVID run-rates. Is the tide finally turning?• Event radar. Locally, Q4 wages is due (Weds). US Fed commentary in focus with several members speaking later in the week. Eurozone PMIs released (Thurs). Markets consolidated on Friday night. In contrast to the Japanese Nikkei which touched another multi-decade high US equities unwound the modest gains from the previous day (S&P500 -0.5%) with higher bond yields...