Treading cautiously into a new year
Wednesday 10th January 2024
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Markets have started the year rather cautiously. Bond yields have held up and equity markets are clearly nervous, suggesting many investors are questioning the speed of the path to rate cuts, particularly in the US. Could Friday\u2019s strong non-farm payrolls read last Friday add to the case for delays by the Fed? NAB\u2019s Ray Attrill suggests the markets might be too cautious. We also look at yesterday\u2019s retail numbers for Australia and expectations for the November inflation read out this morning.
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