In the US new tariffs on Chinese imports kicked in over the weekend, with the usual accompanying notes from the US President via Twitter. It happens as consumer sentiment falls sharply. Phil Dobbie talks to NAB’s Rodrigo Catril about the impact on US manufacturing and rate cuts by the Fed. Meanwhile, the Europe has been hit by uncertainty (already) from the new Italian coalition government, whilst the pound reflects a shaky week for Brexit. There’s more data contributing to Australia’s GDP numbers today Q2 and the Caixin manufacturing PMI for China, whilst the US takes the day off.
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China’s Q&A, May’s legal advice and Australia’s GDP
Markets are buoyed by China’s optimism on a trade deal, whilst legal advice might have put paid to Theresa May’s Brexit plans. I talk to NAB’s Ray Attrill ahead of the OPEC meeting, and the day after those Aussie GDP numbers.
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US dollar and bond yields continue to rise, till when?
Bond yields continue to rise globally, with NAB’s Skye Masters saying the Fed and other central banks are working hard to convince markets that interest rates will stay higher for longer. Meanwhile the Bank of England promises a significant response to the unease of the last few days, but not till November.
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ECB taper talk, while Lavrov tells-tales
Two bits of news overnight – clearly there’s no quick end to the Ukraine war, but NAB’s David de Garis says the ECB’s taper schedule will move faster than anticipated.
