Macro Briefing: 6 February 2024

* Fed can delay rate cuts due to strong economy: Minneapolis Fed President
* Global growth edges up to 7-month high in January via PMI survey data
* Are China’s efforts to curb stock market rout too little too late?
* US Treasury officials head to China to discuss policy
* US bond yield looks unattractive relative to stock market’s earning yield
* ISM Services Index rebounds more than expected in January:

US 10-year Treasury yield rises sharply for second trading session, closing at 4.17% on Monday. The increase is reportedly a reflection of the market’s repricing the odds, supported by recent comments by Fed Chairman Powell, that interest rate cuts are likely to arrive later than previously expected.

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