A look at the day ahead in markets from Sujata Rao
Minutes from the Fed's last meeting indicated the U.S. central bank is not yet contemplating bigger, 75 basis-point rate rises. That, alongside softer economic dataprints, is inducing money markets to keep dialling back their view of where the Fed funds rate may peakThe implied yield on the eurodollar futures June 2023 contract -- essentially where markets see interest rates to be at that point -- is down some 60 basis points this month.
Despite growth-crimping interest rate rises worldwide, Brent crude futures are holding firm near $115 a barrel. That's spurring workers -- whether German metal-workers, UK rail employees or Silicon Valley staff -- to agitate for higher pay.
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