Fed sees significantly lower growth, slightly higher inflation in 2025/26 as a result of policies so far telegraphed by Trump & team. The uncertainty surrounding the actual policies that will be implemented will hold back Fed at least until summer #Federalreserve #dkøko #dkfinans

Not so easy after all?!
Trump backed plan voted down by republicans…

US 10-yr yield above 4,5% and at highest level since spring following hawkish signals from the Fed. What a shift of tone in the 3 months since september… with Fed now expecting 2 cuts in ‘25. We believe more will be needed!
#federalreserve #fed #powell #dkøko #difinans

Euro PMI-day!
Starting out with somewhat mixed French PMI's
#ECB #France

Apparently much easier to negotiate a Brexit than to govern France?!
#france #Barnier

French government might fall today?!
The fragile French government still struggling to land a budget confronting a divided French parliament. The task to improve the budget is tought when all want different stuff to be spared. This shows in markets too #dkøko #france

Eurozone inflation broadly as expected. Minimal improvement in serviceinflation - but its still hovering around 4% (3,93% in Nov) as for the past year.
Bigger picture: infl. more or less at target in all big euro countries & growth looks weak. ECB's only consideration should be size of cut #ecb

Shitty PMI's out of the eurozone moments ago. Seasonality issues should no longer be as important a factor in explaining the weakness.
Hope the bounce in negotiated wages doesn't carry too much weight at the ECB - as these PMIs call for action!
#ecb #pmi #dkøko #dkfinans