Weekly Talking Points - US PCE key this week

Our round-up of what to expect in the coming week and the key events of last week. In our latest Weekly Talking Points we discuss US PCE, personal income and consumption out this week. Our weekly Spotlight looks at ICE Brent crude oil which has been consolidating over the summer. Downside risk is still seen though. Our Review section looks at Fed Chair Powell's Jackson Hole speech where he laid out the challenges facing the Fed but left the market thinking that a rate cut in September is likely. The RBNZ lowered rates and left the door open for lower rates in this cycle. UK inflation rose in July but the Bank of England is expecting CPI to tick higher still this year. In Japan the 30-yr. JGB yield hit an all-time high this week and looks to head higher still.

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