US higher for longer, RBA more dovish
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Monday 13th November 2023
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It seems the more dovish sentiment in the US has been reversed by Jerome Powell suggesting the Fed might have more to do to keep inflation in check. NAB\\u2019s Skye Masters says the weak 30-year auction on Thursday has also seen yields push lower, along with upward pressure on inflation expectations. Moody\\u2019s also moved the US outlook from rating from stable to negative, which might have impacted yields at the margin. In Australia the Statement on Monetary Policy provided revised forecasts for Australia, which could be used as an argument for more rate hikes. Yet the language of the Statement was quite dovish. No wonder markets are confused. The key release this week, is US CPI tomorrow.
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