Drone attack. Will Israel retaliate?
Not much of a response to Iran’s weekend attack in early trade says NAB’s Taylor Nugent, but markets will be watching closely at Israel’s response. The prospect of broader escalation will be the big theme in markets.
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Show Notes
Monday 15th April 2024
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How markets respond to the Middle East situation this week really depends on whether Israel retaliates. The expectation of the weekend’s drone attack on Israel by Iran pushed the US dollar higher, bond yields lower and caused some damage to equities. NAB’s Taylor Nugent says there hasn’t been much response in early trade today, but Bloomberg Economics is predicting a sizeable spike in oil prices if this broadens to a regional war, with the subsequent impact on global GDP and inflation. There’s also discussion on China’s trade numbers from Friday, the weakening Michigan Consumer Sentiment survey and what to look out for today, besides the latest geopolitics.
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