Thursday 8th September 2022
There were big market moves yesterday and overnight, with sharp drops in oil prices, bond yields falling, a turnaround in US equities and the US dollar losing some ground. Even so, the Yen has fallen further, to its lowest level in 24 years. NAB’s Skye Masters says there wasn’t much data to influence the markets, but there was a lot of Fed commentary that is suggesting that perhaps the pace of interest rate moves might begin to slow down. Falling oil prices and government subsidies on gas prices in Europe and the UK will also be seen as helping to tame inflation.