Not giving up
Another day, another move higher in yields, says NAB’s Gavin Friend, as data shows more resilience in the US economy. They’re not alone, Aussie retail numbers yesterday showed we’re still dining out. Euro CPI and US core PCI will be watched closely today.
NAB Morning Call · NAB - The Morning Call
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Friday 30th June 2023
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
The resilience in the US economy is not giving in. Q1 GDP was revised up, showing 2 percent growth QonQ, whilst consumer spending was up 4.2% on the quarter. NAB’s Gavin Friend points out, Q1 was a while ago now, and everyone knew it was a strong quarter. Yet a fall in jobless claims added to the idea that the Fed has more work cut out to bring down inflation, hence a strong move up in bond yields. Australia too is showing resilience, reinforced by yesterday’s retail numbers. And there was no respite in German inflation, with all eyes on the Euro area CPI number out today, along with the US core-PCE. Both could add to central bank woes.
Hosted on Acast. See acast.com/privacy for more information.