Optimism. But why?

Markets expect a December taper, so why are equity markets on the rise? NAB’s Gavin Friend wonders whether the Fed governors are more dovish than reflected in yesterday’s statement.

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Not yet, but soon says the Fed

It’s a different atmosphere this morning says NAB’s David de Garis. Stocks were in the black as Evergrande pays out its coupons, and commodities are back on the up too. And the Fed, will taper soon, probably from December.

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Waiting on Evergrande, the Fed and oil inventories

Markets await the latest chapter in the Evergrande story, but NAB’s David de Garis says China’s controlled economy means it won’t be another Lehman Brothers moment.

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Evergrande Contagion Fears

A torrid day, says NAB’s Ray Attrill, as markets run for cover over fears over Contagion’s default. Her talks through the reactions and implications for the Australian market.

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Just another cautious Monday

Markets are treading water ahead of the FOMC says NAB’s Tapas Strickland. The fate of Evergrande in China is also playing on sentiment.

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Has QE become MMT by another name?

Central banks have amassed trillions in government bonds. Do they seriously expect to reduce that to xero? If not, I ask Steve keen, haven’t they embarked on MMT by another name?

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Random Stuff

Bond yields switch direction as volatility continues

NAB’s Rodrigo Catril says the volatility in bond markets shows that whilst we want to see signs of an economic recovery, we don’t want to see too many upside surprises. He explains why in today’s Morning call podcast.

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Another day of extremes, RBA ready to cut again

All asset classes took a hammering – NAB’s Tapas Strickland explains why safe havens like gold and bonds are amongst them. Plus, a rate cut from the RBA today, but hasn’t monetary policy gone as far as it can go?

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Pound pummelled as May delays

Theresa May backs off from the vote on her Brexit deal. I talk to NAB’s Tapas Strickland about how it was felt in the pound. Plus, why is oil back on the slide?

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