Thursday 28th July 2022
The FOMC has met, they’ve pushed rates up 75 basis points and, whilst Jerome Powell said there would be no forward guidance, he has hinted at another big rise next time. Of course, it all depends on the data. Phil Dobbie talks to NAB’s David de Garis about the take-outs from the press conference, which injected some animal spirits into the share market. They also look at yesterday’s Australian inflation numbers, and whether they have cemented in a 50-basis point rate rise by the RBA, or could it be more? Plus the Meta earnings release, which brought mixed news after the US market close.
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Are bailouts bygones?
Shares have been up and down on the forlorn hopes of a stimulus deal. NAB’s Gavin Friend says as the mood darkens, minds are focused on Capitol Hill for any signs of hope.
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Rocky road for China investors
Tensions with China are seeing contagion from stocks to bonds to currencies. On today’s podcast NAB’s Ray Attrill says its fears of regulatory change that will quickly motivate investors to move money.
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Markets recover, but why?
Markets are mixed today, says NAB’s Ray Attrill in today’s podcast, with equities bouncing back on reflation expectations, whilst bond markets remain cautious over the speed of recovery.
