Fed might ease off, Boris gone
US equities were boosted last week by earnings results, but NAB’s Ray Attrill says reports the Fed might ease off the pedal a little really enthused markets on Friday. Today, the question mark is over who will be the next British PM – Rishi or Boris?
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Show Notes
Monday 24th October 2022
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The US finished the week with equities rising and the dollar falling, with the Fed’s Mary Daly hinting that the path of hikes might slow for fear of an ‘unforced downturn’. NAB’s Ray Attrill notes that the Wall Street Journal’s Nick Timiraos suggesting the Fed might well be signalling a stepping down of rate increases, and that Timiraos rarely gets it wrong. It’s fun and game is the UK today as they fast track the selection process for the next Prime Minister, although since we recorded the podcast it seems an almost certainty that Rishi Sunak will be the UK's next prime MInister, staving off the turmoil that could have ensued from a Boris Johnson win. Plus, lots of PMIs today, and China’s GDP and other data, pushed back from the People’s Congress last week.
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