Monthly insights into private markets

The US inflation data has surprised to the upside for three consecutive months.
US treasury yields rose as a result and the rest of the world followed. Year-to-date, government bond yields have risen 79bps in the US, 57bps in Europe and 40-70bps in Asia. Forecasters are pushing out their rate cut expectations further. UBS Investment Bank now expects only two cuts in the US for 2024 with the first likely to come at the September Federal Open Market Committee.