Tuesday 3rd May 2022
US 10-year Treasury yields snuck over three percent overnight, albeit briefly. But NAB’s Ray Attrill says this could be the psychological baseline that sees rates grow higher. The latest ISM showed a slowing growth in US manufacturing, the result of lockdowns in China, but the Fed is still expected to push ahead with a significant rise later this week. Before that, the RBA meets today and the expectation is that they’ll raise rates by 15 basis points, but some see an argument to push them up to 0.5%. Also, today, a flash crash in Swedish equities.
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A properly punctuated Brexit
Two big controversies of the day – the Huawei decision, and the missing comma on the Brexit coin. Balls Radio has it all covered.
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No time, no place, no momentum
NAB’s Gavin Friend talks through a complete U-turn in market sentiment – it looks like that US China trade deal won’t be signed this month after all.
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Are markets running scared?
Financial markets are concerned that the Fed might push rates higher than anticipated, says NAB’s Tapas Strickland, along with the fear that they will knowingly drive the US (and others) into recession in the process.
