Slow moves
Bond yields are unwinding slowly after the surprise US CPI numbers. NAB’s Skye Masters says central banks are doing their best to talk down expectations of repeated rate cuts this year.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 20th May 2024
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It’s a quiet start today after a week that finished slowly. Skye Masters discusses how bond yields have been slowly rising, unwinding the moves after the surprise CPI growth earlier in the month. Central banks still seem to be doing their best to warn markets not to expect rate cuts too soon. Isabel Schnabel from the ECB did just that on Friday, warning that, although a June cut was appropriate, a ‘cautious approach is needed beyond that’. If Friday was quiet, expect more of the same today, although data picks up later in the week, including CPI for UK, Canada and Japan, and the latest RBNZ meeting, plus NVIDIA earnings.
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