US rally, China’s slump, UK’s new PM
There was a strong geographic divide in news overnight says NAB’s Taylor Nugent. US equities rose on hopes of a more constrained Fed, UK bonds back in favour thanks to a new PM and Chinese equities hit by concerns of a more controlling President Xi.
NAB Morning Call · NAB - The Morning Call
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Tuesday 25th October 2022
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
It's been a very mixed session depending on vaired geographic circumstances, says NAB’s Taylor Nugent. US equities continue to rally on anticipation of positive earnings results and the hope that the Fed will slow down its pace of hikes. Europe has seen modest gains as gas prices fall, offsetting a slightly worse than expected set of PMIs. The UK has seen gilts back in fashion as Rishi Sunak is announced as the new Prime Minister, generally seen as a relatively safe pair of hands. But China has seen the offshore Yuan fall sharply and equities also taking a dive, despite relatively strong economic data, including a better-than-expected GDP read. The concern is the direction President Xi will take as he surrounds himself with allies and prepares for more controls and lockdowns. Tonight we’ll find out what’s in the Australian budget, at least those bits that haven’t already been leaked to the press.
Hosted on Acast. See acast.com/privacy for more information.