Less Trump trade, more tech
There hasn’t been a big response to Bidens step-down from the Presidential race, says NAB’s Taylor Nugent. Shares have bounced back in the US, though, with a big week for earnings ahead.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 23rd July 2024
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If markets were being driven by Trump-trade, the thought that he might have a more credible contender hasn’t had much impact. But what were we expecting? Phil talks to NAB’s Taylor Nugent about whether, beyond bitcoin, the Trump-trade was a figment of our collective imaginations. Instead, the focus is back on tech, particularly as the first two of the Magnificent Seven (Alphabet and Telsa) report their earnings this time tomorrow. The surprise yesterday was a 10bp cut in China’s 1-year and 5-yea loan prime rates. But is it too small to have much impact?
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