ownbeat mood are the market’s preparations for the Federal Reserve’s dovish hike in the next week, as well as fears that geopolitical concerns and higher rates could tame global economic growth.
Fears of US debt ceiling expiration, looming in June, escalate as the US policymakers keep jostling over the details. On Monday, US House Speaker Kevin McCarthy signaled no intention of altering the debt ceiling, which in turn flags a tough road for the key decision as multiple proposals from the Democrats need such a move.
Elsewhere, markets also prepare for the US Federal Reserve’s one last rate hike, worth 0.25%, in May before signaling the policy pivot, which in turn weigh on the yields as higherIt should be noted that the geopolitical fears surrounding Russia and China join the market’s cautious mood ahead of this week’s top-tier growth and inflation data to prod the sentiment.
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