Deutsche Bank-DBDaily Fedspeak tilts hawkish; Powell speaks Tuesday-107586528

DeutscheBankEconomicsDateResearch15April2024DBDailyGlobalFedspeaktiltshawkish;PowellspeaksPhilOdonaghoeTuesdayEconomist+61-2-8258-1606Fedspeaktiltshawkish;PowellspeaksTuesdayUSA:UofMichsurvey(AprP):Down1.5pts,belowmktUK:GDP(Feb):Up0.1%mom,atmkt.TheDBDailywillbemissingfromyourinboxfortheremainderofthisweekastravelschedulesimpactUSequitieswereweakerFriday,S&Pdown1.5%toendtheweek1.6%lower.US10yryieldsdown6bpsFridayto4.52%,up12bpsovertheweek.Michiganconsumersentimentmissed,down1.5ptsinAprilto77.9,consensusFigure1:MarketSummarylookedfora0.4ptdecline.Currentconditionsdown3.2pts,expectationsdown0.4pts.5-10yrinflationexpectationsup0.2pptsto3%.Equities5123.41-1.5%FX1.0643-0.81%S&P500505.250.1%EURUSD153.23-0.91%HawkishtoneinFedcommentaryFriday:Stoxx6000.9%USDJPY1.2452-0.70%FTSE7995.580.2%GBPUSD1.3775-0.64%Fed'sCollins:NowseesFedcutting"laterthanpreviouslythought",butCPINikkei22539523.55-0.8%USDCAD0.6467-2.36%"doesn'tchange"outlookforinflationtocomedown.CPIandPCEinflationdon'tCSI3002.40AUDUSD0.5943-2.21%alwaysmovein"lockstep".VIX3475.84NZDUSD17.31Fed'sGoolsbee:longarcofinflationshowsitis"waydown"fromhighs,butmultipleinflationreadingshavebeen"higherthanwewant".DebtCommoditiesUST10UST24.52-0.06Oil90.450.8%SFR40.2%4.90-0.06Gold2344.370.8%0.1%4.86-0.06CRB297.87Copper425.85Source:DeutscheBank,BloombergFinancial,LPFed'sSchmid...