There’s been a sharp rise in US equities after comments from the Fed’s Jerome Powell, signalling rate cuts are likely. But, as NAB’s Rodrigo Catril explains, he managed to balance that expectation with enough doubt to see Treasury yields rise. Meanwhile, following yesterday’s rate cut by the RBA, Philip Lowe has hinted at there being at least one more cut before the end of the year, but could it go further than that? The market is also encouraged by hope that tariffs on Mexico won’t happen next week, whilst the pound has risen on talk of a “very, very substantial trade deal for Britain”. Also, what to expect from Aussie GDP numbers out today and the Caixin Services PMI from China.