Uncertainty in markets today. NAB’s Ken Crompton says there’s a continuing tension between the Fed talking up rate rises and whether that will prompt a recession. Data releases didn’t provide any room for positive thinking.

Hopes of lockdown easing in China supported positive sentiment on Friday, but on today’s podcast NAB’s Tapas Strickland suggests one reason why that sentiment might shift today.

The market is very brittle today, says NAB’s David de Garis, with no clarity on when inflation will peak, how much is supply side and how far central banks will have to go. Add China’s lockdowns and the war. In short, a world of worry.

The market focus was on the US CPI print overnight says NAB’s Skye Masters, with a surprise lift in the core number. That’s hit shares, and front end yields, but less movement in longer dated bonds suggest markets haven’t changed their view of the end-game for the Fed.

Shares have been on the rise, but NAB’s Rodrigo Catril says we haven’t seen any great news over the last 24 hours and the underlying problems remain. Even falling oil prices could be shortlived, he says on today’s podcast.

Shares took a nosedive in the US overnight. NAB’s Taylor Nugent says this comes from little in the way of data and no change in tune from central bank speakers. It just points to the uncertainty of future growth.

Financial markets are concerned that the Fed might push rates higher than anticipated, says NAB’s Tapas Strickland, along with the fear that they will knowingly drive the US (and others) into recession in the process.

Market sentiment staged a massive turnaround, with sentiment taking a hit. NAB’s Gavin Friend says markets might believe in a softer landing is possible in the US when base effects will help lower inflation later in the year.

The reaction to the FOMC 50 basis point rise was pretty mooted says NAB’s Skye Masters, but the press conference that followed saw yields falling sharply, a drop in the dollar and a sharp rally in equites. Listen in to find out why.

The RBA lifted a little more than expected. Ivan Colhoun says thew Fed sees a quarter percent rise as normal, but Taylor Nugent says the bond reaction suggests it wasn’t expected. Next, FOMC, with markets still expecting a 50 basis point rise.