The risk of rising risk sentiment

Tuesday 13th September 2022

Risk sentiment is improving, with shares up in the US and Europe and the US dollar losing ground to the Euro. Why? It’s a question Phil Dobbie puts to NAB’s Tapas Strickland in today’s Morning Call. The EU has drafted an energy plan that includes a windfall tax on fossil fuel providers, but the data over the last 24 hours shouldn’t imbue confidence. UK GDP growth was below expectations, and the IFO has substantially downgraded their forecasts for Germany. The big event today is the CPI figure for the US tonight, although its unlikely to change the expectations for a 75bp hike from the Fed at their next meeting.

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