Still more Rate Expectations
NAB’s Ray Attrill says the path of bond yields mirrors the message from Fed speakers that there are more hikes to come. But have equity markets abandoned the hope of a soft landing?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 25th September 2023
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The path of central banks does seem to be having as many twists and turns as a Dickensian novel. NAB’s Ray Attrill says the path of bond yields at the end of the week showed how the UK is taking a divergent path from the US, where central bank speakers are still suggesting there will be more hike(s) to come. PMIs on Friday continued to show that the US economy seems to be faring better than Europe. But the US soft landing rhetoric is being challenged, with equity markets taking a hit, the automotive workers strike likely to have more impact and the prospect of a government shutdown at the end of the week all the more likely. This week the data in Europe, the US and Australia will be focused on inflation, naturally.
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