So, what did markets like about Powells speech yesterday?
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Friday 2nd December 2022
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Markets have not significantly retraced their moves after Jerome Powell\\u2019s speech yesterday. Equities have rebounded only slightly and bond yields have continued to fall. On today\\u2019s podcast NAB\\u2019s Tapas Strickland outlines why his speech created a more positive risk outlook. There was good news in amongst the data released overnight too, with ISM manufacturing showing a fall in prices paid. Abd China\\u2019s lockdowns could be easing further, with home detention now replacing quarantine centres for low-risk cases in Beijing. The focus tonight, of course, will be on US non-farm payrolls, in particular the average hourly earnings.
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