Powell eyes labour market, equity markets eye Trump friendly stocks
Jerome Powell refocuses on the impact of policy on the labour market, whilst response to the events of the weekend are largely confined to Trump friendly stocks and Bitcoin.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 16th July 2024
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Equity markets are showing some adjustment to the prospect of a Trump presidency, with oil producers and gun makers doing well, renewables falling and Bitcoin up almost 6% today. Bond markets are still more responsive to Fed-speak. NAB’s S kye Masters gives Phil her take-outs from Jerome Powell's interview at the Economic Club of Washington, D.C. and another session seeing the yield curve ending steeper.
Inflation data is out for Canada tonight, after a business survey showed further weakness in the economy. They also discuss the slump in New Zealand’s PMI’s and more data showing the extent of the China slowdown. Although many are expecting Chinese authorities to announce e very little new in their Third Plenum today, can they really sit by and wait?
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