“The Fed enters their blackout period with a clear spirit of patience. Friday’s PCE Deflator was encouraging but represents only one number. And the Fed will need to see a string of these types of readings to even better to regain the confidence they had in 2023. Although next week’s meeting will bring no formal change in rates, we will get an updated Summary of Economic projection with the Fed likely to move toward market expectations for policy pathway. This week, the focus will be on the ECB, and in the US both ISM readings and another important employment report. Have a great week!”

Get your updates each week with Gregory (Greg) Faranello, CFA, Head of US Rates at AmeriVet Securities, Inc..