PHIL’S AUDIO SHOWREEL
Markets are optimistic despite slow retail sales, lower consumer confidence and rising inflation expectations. NAB’s Rodrigo Catril says there’s an acceptance that much of these are short term effects.
Equities bounced back in the US today, as attention switches beyond temporary inflation to the US getting back to work. All the signs we are seeing are that the US is reopening, say David de Garis.
US CPI numbers came in much higher than expected, with a swift market reaction. NAB’s David de Garis says the bond market reaction has been mature, but you could argue that the equity market has overreacted. Listen to his explanation of today’s Morning Call podcast.
Markets were disappointed by the RBA response to rising bond yields yesterday, says NAB’s Rodrigo Catril, creating a dramatic move up in yields. The Aussie also hit another multi-year high driven by rising commodity prices as reflation gather momentum.