US Activity Data Has Been 'Fairly Resilient': Citigroup

Johanna Chua said recent US activity data has been "fairly resilient," suggesting the economy is holding up better than expected. She also noted that three Fed dissenters against the easing bias were not a huge surprise, but do represent an interesting shift in policy sentiment. The comments are mainly interpretive and point to a modestly firmer, less dovish Fed backdrop.

Analysis

Johanna Chua said recent US activity data has been "fairly resilient," suggesting the economy is holding up better than expected. She also noted that three Fed dissenters against the easing bias were not a huge surprise, but do represent an interesting shift in policy sentiment. The comments are mainly interpretive and point to a modestly firmer, less dovish Fed backdrop.