Markets tossed back and forth in a sea of uncertainty
Tuesday 17th May 2022There\u2019s been a fair bit of volatility in equity and bond markets overnight. Stocks are generally down after swings back and forth through the session. NAB\u2019s Ken Crompton says there\u2019s a continuing tension between the Fed talking up rate rises and whether that will prompt a recession. The data flow hasn\u2019t offered anything encouraging. China\u2019s retail sales were well down the NY State Manufacturing Index was pulled down by a fall in new orders, and the European Commission, understandably, lowered their growth forecasts and upped their inflation expectations. Meanwhile oil pushed higher and wheat prices ha e been hit by an export ban from India. Today US retail sales will show whether inflation is hitting demand yet and Christine Lagarde will have a chance to talk-up a July rate hike in Europe. Plus the minutes of the last RBA meeting.
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