Manage episode 340589009 series 1400104
Friday 9th September 2022
View our NAB Financial Services Guide: nab.co/3rvJtI9
Even though a big hike from the Fed is widely anticipated, bond yields continue to move up as Jerome Powell and other speakers talk it up. The moves were even bigger in Europe where an expected 75 basis point hike saw a sharp rise up in 2 year Bund yields. NAB’s David de Garis says markets expect that, at some point soon, central banks will start pulling back and they are looking for that inflection point. Today there was no sign of that happening anytime soon on either side of the Atlantic. But the RBA’s Jerome Powell was sounding far more dovish. The new UK PM outlined her plans to subsidise energy, which will involve a massive amount of government spending. Sadly, the news was overshadowed by the passing of Her Royal Highness. Irrespective of your views on the monarchy, most people acknowledge Elizabeth II was a warmly regarded, hard working lady who will be sadly missed.
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