Month: August 2022

Euro inflation hits new high, pound heading back to the pleasure dome

There’s now a greater than 50% chance that the ECB will lift by 75 basis points next week, says NAB’s David de Garis. The pound meanwhile is heading back to when mullets were fashionable/acceptable.

More good news, that’s actually bad news

More job openings and rising consumer sentiment – two numbers that pile on the pressure for the Fed to be more aggressive on rate rises, says JBWere’s Sally Auld on today’s Morning Call podcast.

Aussie yields push higher after July’s shopping bonanza

As the US starts to get used to the idea of faster hikes, NAB’s Rodrigo Catril discusses the move up in yields at home in Australia, pushed along by yesterday’s very strong retail numbers.

Fickle equity investors respond to unsurprising Powell comments

There was little surprising in Jerome Powell’s Jackson Hole speech on Friday, but a sharp response on US equity markets. Share investors clearly didn’t get the memo says NAB’s Ray Attrill, on this 6th year anniversary episode of The Morning Call.

Peering into Jackson hole

Markets are treading water ahead of Jerome Powell’s talk at Jackson Hole. NAB’s Taylor Nugent says bond yields have retraced their steps a little, whilst equity markets have pushed higher in light trade, particularly big tech.

Dire Straits for UK and Europe

One day on from Ukraine’s Independence Day, NAB’s Gavin Friend doesn’t hold back on the impact the war is having on the UK and European economy and how much worse it could get. Can central banks really help?

Business activity falls, but not enough to slow the Fed

The latest PMIs show more of a slowdown in the US than Europe or the UK, says NAB’s Ray Attrill, but probably not enough to change the uber-hawkishness expected to emanate from Jackson Hole at the end of the week.

Markets respond as European gas prices push ever higher

The persistence of inflation, driven by energy prices in Europe, has pushed yields higher and equities down today says NAB’s Tapas Strickland, as markets assume an even more hawkish stance from central banks.

Shopping to the very end

There’s a feeling ahead of Jackson Hole that the Fed is serious about having a lot more to do to fight inflation, says NAB’s Rodrigo Catril on today’s podcast. Higher producer prices Germany and strong retail sales in the UK shows inflation and demand are not falling yet.

Fed still trying to show they won’t give in

The Fed is still concerned that the market is pricing in rate cut next year, says NAB’s Ken Crompton. And a big fall in the Euro as gas prices reach a record high.

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