Bond yields sink as Fed bets rise
Mixed data today but enough to increase expectations for rate cuts by the Fed and maybe reduce those from the RBA. NAB’s Ray Attrill talks through a session with many moving parts.
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Show Notes
Friday 16th May 2025
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Softer retail sales and slower growth in produce prices has upped expectations for the speed of Fed cuts this year, pushing bond yields lower today. It’s been a curious session, with NAB’s Ray Attrill saying equities, bonds and the dollar seem to be acting independent of each other. Oil is also forging its own path, driven down by expectations that President Trump will forge a deal with Iran which could see them adding to the global supply pool sometime soon. They also discuss yesterday’s Australian employment numbers and why we might have been bit optimistic to expect a 50bp cut by the RBA next week. But never say never.
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