Macro & Yields
US yields remained broadly flat following recent economic data releases. While Q3 growth data showed resilience, it continues to highlight uneven economic progress, with little improvement in personal disposable income. This divergence was reinforced by last week’s consumer confidence readings, which suggest households remain unconvinced about the durability of the recovery. As monetary conditions ease further, yields are expected to drift lower, compressing real rates. A sustained decline in real rates should support grassroots consumption and capital investment over the medium term.
Technical Outlook
Price action was subdued on Friday, with weak consumption data weighing on sentiment. RSI stands at 47 and remains below its moving average, while MACD indicates flat selling momentum.
Key Levels:
Support: 6,785.10 | Resistance: 6,987.00
Investor Takeaway:
Equities remain range-bound as macro headwinds offset easing financial conditions. Directional conviction likely requires clearer evidence of consumption recovery.
