Manic Monday
After a strong response to US jobs data, stronger services data suggests the market response was overplayed.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 6th August 2024
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US shares took more of a hammering on Monday, although an upside surprise on the Services ISM read stopped things spiralling from bad to worse. Phil talks to NAB’s Tapas Strickland about another day of volatile market action, particularly for Japan, where the Yen rose sharply and shares fell quickly. They talk about where is the Fed now on its path of cuts for the rest of the year, and whether markets overplayed the response to the weaker than expected jobs data. Does any of this have any influence over what the RBA does next, assuming they keep rates on hold today?
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