Morning Bid: News vacuum sucks momentum from markets

Stock market momentum is waning as a dearth of fresh economic clues sees the feverish punting over the pace of Federal Reserve rate cuts finally settle down.AI fever aside, the Fed sits squarely at the center of the market universe, with all asset classes in its orbit. That includesInvestors rushed to reintroduce Fed easing bets after a long-in-coming downside CPI surprise last week, but Fed officials have been less sanguine, collectively striking a cautious posture.

More Fedspeak is in store today, with Governor Christopher Waller and no fewer than four regional Fed bosses taking the podium at various events. Minutes of the Fed's last policy meeting due Wednesday will be valuable, but predate the softening in CPI after three straight months of upside surprises. Tuesday's local data docket is light, with the highlight around Europe being German producer price figures for April.

Source: Financial Digest (financialdigest.net)

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