Slight risk bounce as US markets clutch at straws
Friday 9th December 2022
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There was a bit more of a risk-on attitude in the US overnight, with equities rising for the first time in five days. Part of the reason could be a rise in jobless claims. But NAB\u2019s David de Garis says you\u2019d be clutching at straws to assume that means lower inflation and a less aggressive Fed. It\u2019s just part and parcel of the volatility ahead of a bumper week next week, with US CPI, the FOMC meeting and the ECB. The last blast before Christmas. Equally as unexplained is the slow glide down in oil, when there\u2019s every reason for it to be heading the other way. An oil leak on the Keystone pipeline saw WTI prices rise for a while, but they didn\u2019t hold for long.
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