Misplaced confidence, a housing bounce and a big day for the RBNZ
Wednesday 29th May 2019 Consumer confidence in the US hit a six month high, yet there’s a continued flight to bonds, pushing treasury yields to the lowest level since September 2017. Phil Dobbie asks NAB’s Ray Attrill whether the confidence is misplaced? After all, manufacturing data is showing a slide and forecasts are predicting a cut in growth when more tariffs are added on Chinese imports. They also discuss reports of a housing bounce after the Australian election and what to expect from the RBNZ today, with the Financial Stability Report and a session in front of a parliamentary committee for the Governor. Plus, a Brexit poll shows what markets fear – widening support for Brexit and a Labour win if the UK heads to another general election.