Europe has the edge, BoJ keeps us guessing
It's anyone’s guess what the BoJ will do today. Meanwhile, a mix of weak data from the US but the expectation is still geared towards a soft landing says NAB’s Skye Edwards. In Europe that could mean a downward revision to the rate path.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 18th January 2023
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European equities rose overnight with the ZEW survey of analysts suggesting a more positive outlook and reports that the ECB might slow down its path of hikes. That’s in contrast to the US where the NY Empire State Manufacturing index came in much lower than expected, reported company earnings were mixed and equities were struggling to make gains. NAB’s Skye Masters says whatever the news lately US 10 year treasury yields are sticking close to 3.5% and doesn’t seem to be breaking lower, so data that will influence the Fed’s decision-making is crucial right now. Meanwhile, the BoJ is the focus today – and nobody is quite sure what they’ll do.
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