Thursday 24th June 2021
The crawl back from last week’s FOMC surprise is more or less complete. As NAB’s David de Garis points out, Treasury yields are back to where they were just before the Fed met. Equities are back to on the rise and commodities and being driven higher by demand and supply constraints. The reflation trade is back. On today’s podcast we go through the plethora of PMIs from Europe and the US, with more data from Europe today. The Bank of England meets later. The heavily-vaccinated UK population seem to be adapting to life with the virus. Could that influence the outlook for the Bank of England later on?
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Trumps talks about more talk – enough for the markets to go on?
The G20 providing some relief that things won’t get worse between the US and China but, as NAB’s Tapas Strickland describes, there won’t be any sharp market reaction and a Fed rate cut still looks likely for this month.
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Fletcher on the Coalition broadband plan
Broadband policies are emerging as a point of difference between the two major parties ahead of this weekend’s election.
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Does Modern Monetary Theory make sense?
Steve Keen is a support of MMT, in part, but departs from the ideology when it comes to the theory relating to exports and imports.
