NY Open: Keep Calm and Carry On

Global rates have stabilized after a selloff, while markets await Nvidia's earnings and FOMC minutes for direction. Emerging markets are seeing idiosyncratic volatility, highlighted by a surprise 50bp hike from the Bank of Indonesia.

Key Takeaways

• 1.Global rates selloff has stabilized with a slight reversal overnight, though US 30-year yields remain at cycle highs of 5.16%.
• 2.The Bank of Indonesia (BI) delivered a hawkish 50bp hike surprise to stabilize the IDR and manage inflation goals.
• 3.Market focus is centered on Nvidia's earnings and Target's retail sentiment update as key indicators for US tech and consumer health.

Table of Contents

• Best of Wire
• In Focus
• Elsewhere
• Charts
• Major Releases Ahead

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