Markets wait calmly for US inflation data
It's a busy week for data but we haven’t had any of it yet, says NAB’s Taylor Nugent, explaining why bond and equity markets kick-off the week in a subdued fashion.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 13th August 2024
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US shares and bond markets have remained relatively calm, as we await the latest inflation data from the US (PPI today, CPI tomorrow). There’s plenty of data flow this week, says NAB’s Taylor Nugent, but there’s been nothing so far to move markets. Locally, will the speech from the RBA’s Andrew Hauser have any impact on the pricing for rate cuts this year? He criticised the media for talking with “extraordinary certainty” about the outlook of the economy and what the RBA was going to do about it. But markets are still pricing in a 50:50 chance of a rate cut as early as November, despite the bank’s determined effort to convince us otherwise.
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