Big fiscal boost, tame inflation: everything is perfect so far

As expected, the House passed the stimulus bill yesterday. First checks will be sent as soon as this month the Treasury promised. In parallel, the bond market was reassured by lower-than-expected core inflation figures and a quiet 10-year Treasury bond auction. The US 10-y bond yield eased slightly further and the stock market posted some gains, except the Nasdaq that was marginally down. The USD lost some ground, the EUR/USD coming back above 1.19. The ECB meeting will be the main event today.

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June 24, 2022

Oil price continued to drop

On Thursday, oil prices were down. ICE Brent front month moved 1.5% lower to settle at $110.05/b and NYMEX WTI went 1.8% down to settle…
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