Monday 4th July 2022
Recessions fears continue to rise, pushing bond yields lower. As NAB’s Rodrigo Catril explains, the US ISM manufacturing report on Friday added to the fears, showing a contraction in new orders. It’s no longer an issue of supply constraints, demand is also softening. Yet inflation continues to rise. In Europe it grew from 8.1% year on year in May, to 8.6% in June. A big fall in copper prices also suggests an expected fall in demand. All this uncertainty is knocking the Aussie dollar down more than most currencies. This environment provides the ammunition for the RBA to make a large hike (50 basis points) tomorrow. Later in the week we’ll see if the tight labour market in the US is easing, if at all, with the release of the monthly non-farm payrolls data. Prepare for a bumpy week again.
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Blue day after a blood moon
Markets take a pessimistic line today, but as NAB’s Gavin Friend suggests, the pound reflects renewed hope that a hard Brexit will be avoided.
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Will you be paying for Netflix, whether you want to or not?
Netflix has arrived in Australia. They’ll make a lot of money, whilst network providers will have to provide the capacity to meet the demand and pass the costs on. So is everyone paying for Netflix, whether they use it or not?
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Radio Solent Drive – 21st September 2018
My first gig on the BBC – drivetime on BBC Radio Solent one Friday afternoon. Here some bits of it.
