A pinch and a punch, and a win for LePen
The German France bond yield spread hit a 12 year high on Friday ahead of the French election. But what about the market response to Biden’s calamitous debate? And US PCE, a little better than expected. NAB’s Taylor Nugent talks through it all.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 1st July 2024
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It’s the first day of the third quarter. The unsurprising news from French exit-polls this morning shows a clear win for Le Pen’s National Rally party, securing a third of the votes. NAB’s Taylor Nugent says markets have already priced-in the outcome and there’s been very little movement in early trade. Markets responded a little more to Biden’s shaky debate performance on Friday. On the data front, the Core PCE Deflator, the fed’s preferred inflation gauge, was good news – a little better than expected if you look at the second decimal place! Germany’s CPI is out today and the Central Banking get-together kicks off in Portugal.
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