NAB – The Morning Call · Where is the safe haven?
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Where is the safe haven?

Thursday 7th October 2021

The fuel crisis in Europe and the UK is impacting global markets, with shares taking a hit. There’s been no rush to bonds given the impending inflation concerns, worsened by fuel prices, and most currencies are losing against the US dollar, which is possibly the only safe-haven left right now. It’s been a rollercoaster day, says NAB’s Gavin Friend, with energy prices in the driving seat and upending all markets. The problem is, there doesn’t seem to be a short-term resolution. Listen in to find out why. Plus, strong jobs numbers in the USD. Does this foreshadow a strong non-farms payroll number for the US on Friday? And a vote on the US debt ceiling possible in the next few hours.

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