Inflation woes
Weak bond aucitons pushed yields higher, but JBWere’s Sally Auld says Australia’s CPI number did their part too. And Australia is not the only place seeing inflation rising.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 30th May 2024
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Australia’s monthly CPI reads are always to be treated cautiously. Nonetheless, the surprise rise in inflation did create a response on Asian markets, pushing Aussie yields higher. JBWere’s Sally Auld talks about how weaker bond demand in US 7-year note auction added to the bond sell-off. Australia wasn’t the only inflation surprise. German CPI also rose. The ECB is wedded to a cut next week, but will they deliver the 60bp priced in for this year? In New Zealand the question for today is can the government meet all their budgetary promises without adding to the inflation worries.
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