Macro Briefing: 26 April 2024

* High commodity prices are another factor that could delay rate cuts: World Bank
* Pending US home sales rose much more than forecast in March
* Jobless claims in US fall to lowest level in 9 weeks
* US inflation picked up in the first quarter
* US GDP growth slows more than forecast in the first quarter:

The US 10-year Treasury yield rose to 4.71% on Thursday (Apr. 25), the highest since Nov. 1. The rise coincided with yesterday’s news that US economic growth was slower than expected while inflation remained firm, hinting at a higher risk of stagflation.

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