Treading cautiously into a new year
Strong US jobs numbers have added caution to expectations for US rate cuts early this year but NAB’s Ray Attrill. Says we shouldn’t ignore the fall in PCE at the end of last year.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 10th January 2024
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Markets have started the year rather cautiously. Bond yields have held up and equity markets are clearly nervous, suggesting many investors are questioning the speed of the path to rate cuts, particularly in the US. Could Friday’s strong non-farm payrolls read last Friday add to the case for delays by the Fed? NAB’s Ray Attrill suggests the markets might be too cautious. We also look at yesterday’s retail numbers for Australia and expectations for the November inflation read out this morning.
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