NAB – The Morning Call · Bond markets wrapped up in a ball of confusion

Bond markets wrapped up in a ball of confusion

Monday 8th November 2021

You might expect a little more optimism in the markets given Friday’s strong non-farm payrolls data in the US, Pfizer’s news about a pill for COVID sufferers, the passing of Biden’s $1.2 billion infrastructure bill and rising consumer credit in the US. Equity markets are riding high on future hopes, but NAB’s Tapas Strickland says bond markets continue to unwind from expectations on the timing of rate hikes by central banks, in particular the surprise move by the Bank of England last week not to move. Today we also look at Friday’s RBA Statement of Monetary Policy, and look ahead to US CPI and Australian labour market data this week.

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