Will markets be spooked by scary central banks?
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Monday 31st October 2022
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US equity markets rose sharply on Friday, even though there\\u2019s little evidence that inflation is easing or that the Fed will slow down their pace of hikes, despite all the pivot-talk of the last week. This morning NAB\\u2019s Rodrigo Catril is asked whether they are too optimistic, given the data and geopolitics we are experiencing right now. Could the fear of persistent inflation but the frighteners on them this Halloween? The US employment cost index might have moved down slightly, but the rate of wage growth is still way higher than the Fed would like to see. In Europe equities were still rising on Friday even as inflation numbers for Germany, France and Italy were way-higher than expected. With the BoE, RBA and Fed all meeting this week will reality come back to bite? Will the word \\u2018Pivot\\u2019 be consigned to history, at least for a week or two?
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