NAB – The Morning Call · Swift turnaround as markets rethink FOMC response
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Swift turnaround as markets rethink FOMC response

Tuesday 22nd June 2021

Well, we did say it was a rather extreme reaction to the FOMC meeting last week. NAB’s Tapas Strickland says the market moves overnight suggest the response was overdone, as markets partially unwound, with the US dollar falling, the yield curve steepening again, US equities up and the Aussie dollar on the rebound. So, what’s driven this rethink and will it last? Will Jerome Powell have an influence on it all when he speaks in front of a US government committee later? On today’s podcast we also examine yesterday’s Australian retail numbers, dissect what Christine Lagarde had to say from the ECB, and look ahead to what’s on today.

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