Markets jump on JOLTs and RBA surprise
Markets have taken the smaller than expected RBA hike as a sign that central banks might be pivoting! But JBWere’s Sally Auld says the signs of a smaller hike where there if you looked for them.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 5th October 2022
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There’s plenty of talk of a Fed pivot according to JBWere’s Sally Auld, but is it an overreaction? The drivers have been the smaller than expected rise by the RBA yesterday and one million less jobs being advertised in the US. Bond yields have fallen and the equity markets are lapping it up. So, today, will the RBNZ follow in the RBA’s footsteps? Markets are expecting a 50 basis point rise in New Zealand, but that’s what they said about Australia.
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