Bouncebackability
Thursday 8th December 2022
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US bond yields fell further overnight as US wages data showed slower growth than anticipated, adding to hopes that the Fed won\u2019t be as aggressive as they\u2019ve been letting on when it comes to future hikes. NAB\u2019s Gavin Friend says that does seem to be the mood of the moment. Whilst the Bank of Canada raised rates by 50 basis points \u2013 when many had considered 25 was likely \u2013 it was a dovish rise, with suggestions that they won\u2019t be doing too much more. The RBA is moving in smaller increments, and whilst a pause is not on the cards for the next few months, it could be that they too won\u2019t move far beyond March, with Australia potentially leading the way in bounceback-ability, says Gavin. Further reopening news from China helped with this sentiment.
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