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Developed market central banks are starting to cut policy rates.
U.S. stocks hit a fresh record high and 10-year U.S. Treasury yields slid last week after U.S. jobs data showed moderating wage growth.
We watch the U.S. CPI data for June this week to see where services inflation will settle.
Transcript
Though developed market ((DM)) central banks are starting to cut policy rates, we think the Federal Reserve and its peers will keep rates higher for longer as inflation settles above their 2% targets....