Market responds to OPEC+ downgrade. US CPI and THAT debate to come.
Oil prices are down today. NAB’s Skye Masters says the outlook for global growth is weighing on the market, including a further rally in bonds overnight, led by Treasuries.
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Show Notes
Wednesday 11th September 2024
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There’s been sizable falls in oil prices overnight, driven by a downward revision to OPEC+ forecasts for this year and next. NAB’s Skye Masters talks about the market response to the oil price and the slowdown more generally. She suggests it’ll make next week’s forecasts and dot plot from the Fed particularly interesting. We shouldn’t expect too much of a reaction to the US CPI numbers today and, unless there’s an overwhelming winner in the TV debate today, it’s probably too early to resume the Trump trade.
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