Diverging paths
Bon yields have pushed higher Europe, but have fallen in the US. NAB’s Ray Attrill says the imminent government shutdown could be a factor here, but other news from the US has been positive, giving equities a nudge up today.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 29th September 2023
US confidence seems to be building, whilst Europe is still in the doldrums. US equities have risen, perhaps helped by the hopes of a visit by President Xi later this year. Europe could have made more of falling inflation in Germany, but is perhaps more concerned about rising debt in Italy. NAB’s Ray Attrill talks through the differences, which has also seen an increasing spread in yields across the Atlantic. The imminent government shutdown could have a lot to do with it. It’s a busy day for data, including US PCE deflators and, over the weekend, China’s Caixin PMIs.
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