NAB – The Morning Call · A glimmer of hope, except for Boris

A glimmer of hope, except for Boris

Friday 8th July 2022

There have been slightly less recession concerns in the US overnight, with equities and commodity prices pushing higher and 10 year Treasury yields pushing back over 3%. Jobs have been front and centre, with weekly jobless claims not moving far, and non-farm payrolls adding more data to the picture later tonight. It’s been a torrid day in UK politics, with Boris Johnson resigning but not leaving Downing Street until a replacement is found. NAB’s Gavin Friend talks through the impact it’ll have on the UK economy. Whilst China is contemplating a massive spending spree for local governments to build infrastructure and get the economy back on track.

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