Pelosi in Taiwan, Fed nowhere near almost done
Wednesday 3rd August 2022There has been some market caution this morning as Nancy Pelosi arrives in Taiwan, much to the disgust of China. Her rhetoric has been confrontational too, so what is the purpose of this visit? Fed speakers have been keen to shift US market sentiment away from the notion that there will be an easing in the path of rate hikes, with Mary Daly saying they are \u201cnowhere near almost done\u201d. NAB\u2019s Tapas Strickland says there\u2019s been a sharp rise in 2 year yields since, fully erasing the fall seen after the last FOMC meeting. The RBA raised rates as expected but is being cagey about where to next. On today\u2019s podcast we look at the likely path to the end of the year, but is the market overly optimistic about how quickly rates will come back down?
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