T’was a Wobbly Wednesday
Lower bonds and rising share prices was the story early in the session but, as NAB’s Gavin Friend put it, crimped demand for a 10 year bond auction turned markets around and left US shares heavily in the red. Volatility remains.
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Show Notes
Thursday 8th August 2024
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There is still a lot of volatility around. US shares started the session well, with strong signs that risk appetite was improving. Then came a weak response to a a $42 billion 10-year bond auction. That made markets nervous and US equities closed sharply in the red. NAB’s Gavin Friend talks about why the auction didn’t go well, and the influence Japan is still having on markets, influenced yesterday and overnight by words from BoJ Deputy Governor Uchida. Today the NAB Business Survey is out and the RBA’s Michelle Bullock speaks early afternoon.
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