Monday 10th October 2022
There was a strong market reaction to non-farm payrolls on Friday, which suggested the US labour market remains tight, with the unemployment rate falling. NAB’s Tapas Strickland says it was another of those ‘good news is bad news’ moments, likely to keep the Fed on its hawkish path for some time yet. That could be reinforced if CPI data this week remains strong. The question is, how will any central bank know when it has overshot its target? There could be some caution today as the world waits for Putin’s response to the Crime bridge explosion.
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More cheap loans, lower forecasts, no rate rises – the ECB is worried
The ECB is worried – on The Morning Call NAB’s David de Garis talks through how they lept into action today, hurting the markets on both sides of the Atlantic.
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Limbaugh – freedom for all (whites and entitled)
Trump gives Rush Limbaugh the highest award possible, for racists. On Balls Radio @ProfSteveKeen discuss this, other horrible people and some beautiful words.
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Inauguration Day Highs
Most companies have beaten earnings expectations. NAB’s Tapas Strickland says that explains why stocks are at all-time highs, plus the stimulus from the new Presidency.
