Wednesday 12th May 2021
Equities have taken a tumble again in the US, with the falls broader than just tech stocks. Europe too has seen sharp falls. This risk off mood is being driven by increasing inflation concerns, as evidence mounts that supply restraints are pushing up producer prices, which will eventually be passed on to the consumer. NAB’s Gavin Friend says vertigo is another factor, shares have risen so much this year that investors are worried. There’s also discussion on the Australian budget, China’s rising PPI numbers and why the rise in European bond yields this morning?
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Bigger hopes of smaller hikes to come
A weakening dollar and a rally in bond yields. NAB’s Skye Masters says there’s some recognition that we are reaching the point where the pace of central bank tightening can slow down.
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Rates rise when?
The US Federal reserve suggested no rate rise until 2024. On today’s podcast Kallum Picking says it might happen sooner. Plus what to expect from the Bank of England today, is Uber a sustainable business model and Dominic Cummings admits he was the puppet master.
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The crazies are in charge
Mary Queen of Scots lost a fight in Glasgow on this day in 1568. The jury is out on who won the fight between Farage and Marr on BBC1 yesterday. Plus the lowdown on Trumponomics.
