Bond markets have been supported by some market-friendly data and while Fed speakers were again mixed, it was the more dovish remarks that captured attention.
20 August 2020 Alan Oster Podcast – Coronavirus and the economy
NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.
- We released our latest consumption data this morning. For the week ended August 15, NAB data shows a -1.5% year-on-year decline in overall consumption spending – the first fall in weekly spending since the week ending May 2.
- This was mainly driven by very sharp falls in VIC – particularly lockdown areas (down around 17%) – our data includes for the first time a full week of lockdown. Spending also slowed in other states, but was still positive (albeit barely in NSW, and TAS now out-performing).
Listen to the full podcast now. If listening on a mobile device, click listen in browser.