Bond Yields Hit 2024 Highs Ahead of Key Inflation Data That Will Shape Rate Cut Forecasts
• Bond yields hit 2024 highs as traders position for key inflation data this week that may determine if rates revisit 2023 highs
• Markets now favor just two Fed rate cuts this year rather than three as some policymakers question cutting if inflation remains sticky
• JPMorgan strategists pushed back forecast for first Fed rate cut to July based on strong March jobs data
• Earnings season kicks off Friday with banks; S&P 500 profit growth expected at just 3.9% year-over-year
• Wells Fargo strategist issued S&P 500 target of 5,535 for end of 2024, making him biggest equity bull on Wall Street