Massive swings as US inflation stays high and UK ready for U-turn
b'
Friday 14th October 2022
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
It\\u2019s been a stormy night, with violent swings in bond yields and US equities. As NAB\\u2019s Skye Masters explains, shares plummeting as the higher than expected CPI read but then staged a massive rebound later I the session, fishing markedly higher towards the close. Bond markets responded more predictably, pricing in a more aggressive path of rate hikes from the Fed \\u2013 maybe 150bp before Christmas. Meanwhile, massive swings on UK bonds with reports that the Truss government might be ready to stage another u-turn on their unfunded tax cuts, although the Chancellor Kwasi Kwarteng has denied this. Today, US retail numbers will have less influence than the CPI, but a strong read will indicate a more resilient economy which would suggest rates will stay higher for longer.
Hosted on Acast. See acast.com/privacy for more information.
'