Last Chance Saloon
Monday 24th May 2023
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There\u2019s still no resolution on the USD Debt Ceiling. NAB\u2019s Taylor Nugent says expectations are that a deal will be found in time, but markets are getting nervous, with falls in equities across the board (except energy). Inflation concerns continue to mount up, with the latest PMI data in the US and Europe showing that, in general, the service sector continues to expand whilst manufacturing falls further. The UK\u2019s headline inflation rate will fall markedly, but it\u2019s the core number that counts. And we see what the RBNZ is planning to attack persistent inflation \u2013 a 25bp is expected but there is an outside chance they will go harder today.
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