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Bond markets are repricing terminal-rate expectations as inflation cools unevenly.

EconomyGlobal

Macro

Policy-sensitive assets are pricing a slower easing path as disinflation remains uneven.

MacroUnited States

Rates

Policy settings look restrictive as CPI cools and labour data turns more balanced.

RatesAustralia

Currency markets are finding support as local yields hold up against the US curve.

FXAustralia

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