A nervous overreaction?
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Monday 15th May 2023
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There was further nervousness in the markets at the end of last week. NAB\\u2019s Ray Attrill says a chunk of it came from the University of Michigan\\u2019s survey, which saw consumers raising the level they expected inflation to be at in five years\\u2019 time. It seemed an oversized response to a modest increase, but it is a statistic that the Fed likes to keep an eye on. The response could well be overturned by events this week, which include US retail sales, Canada\\u2019s CPI, UK labour market data and Australia\\u2019s wage price index and employment numbers. A busy week ahead, but a quiet start today.
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