NAB – The Morning Call · Mixed sentiment sees markets move sideways
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Mixed sentiment sees markets move sideways

By phildobbie — 1 year ago

Friday 26th March 2021

It’s been another mixed session. NAB’s Gavin Friend says, on the one side there’s the tantalising prospect of an economic reopening in the northern hemisphere that is almost touchable, but there’s also the issues around vaccine production and, in Europe, concerns about how many people are prepared to take it. Equity markets are subdued, with another move away from tech stocks. Interest in the 7 year bond auction in the US was better than last time, but still cautious. Whilst most Fed speakers reiterate that, even though economic growth might be higher than expected by the year end, interest rates won’t budge till 2024, although Bostick predicts a much shorter timescale. Jo Biden, meanwhile, has doubled his forecast for the number of jabs in American arms in his first 100 days in office. And oil prices rose again as the Suez Canal remains closed, possibly for days, maybe even weeks.

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Phil Dobbie
phildobbiePhil Dobbie@phildobbie·
2h

Bond yields fall as recession fears grow after weak personal spending numbers from the US. But NAB’s Tapas Strickland says it is being met with any signs of a sustained fall in inflation. So, just how far do central banks need to go? https://t.co/FedmRFWGAZ

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phildobbiePhil Dobbie@phildobbie·
14h

Forget the last election, with Boris-mania and Corbyn-phobia, the one before that Boris had a majority of 5k. All it would take is 2.5k of his supporters to switch sides to see him off. Precisely why he won't be calling an early election, whatever he tells his backbenchers!

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