Tuesday 30th August 2022
Bond yields in Australia rose sharply yesterday. NAB’s Rodrigo Catril says it was part of the global response to Jerome Powell’s short hawkish speech in Jackson Hole on Friday, but it was also because of the much higher than expected July retail numbers for Australia, which might suggest the RBA will have to push harder to knock inflation down to size. There’s also discussion about how quickly the market in the US is expecting to see rates rise, and how quickly they expect inflation to fall. Also, the latest on the European energy crisis, why oil has pushed higher today and a look ahead to European inflation umbers and US jobs data.