Fed's Waller inches open the US rate cut door
Podcast
Markets Today – We Found Love
29 November 2023
Author
Tapas Strickland
“Tapas is an Economist within Global Markets Research at the National Australia Bank (NAB). ”
Tapas is Head of Market Economics at NAB and provides commentary and insights for our clients on the economy and financial markets including regularly kicking off the working day with key overnight updates on NAB’s Morning Call podcast. Bringing a global perspective, Tapas has previously worked for NAB in London, and continues to work with NAB’s diverse range of clients, from SMEs to institutions, both in Australia and abroad. Prior to NAB, Tapas spent six years at the Reserve Bank of Australia and also worked as an economic adviser in the Department of Prime Minister and Cabinet, advising the Gillard, Rudd and Abbott governments.
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Another choppy night on bond markets with 10yr yields on net little changed and the curve twist flattening slightly.
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A choppy session with softer-than expected second-tier US data seeing yields fall, while the USD gained smalls and commodity currencies underperformed
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Two events late in the session dominated price action. The first was a poorly received US 30yr Treasury auction. The second was not dovish comments by Powell who sounded still hawkish.
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Quiet data wise, but some notable moves in markets.
Markets Today – Crazy in love
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Risk-on continues in the wake of Wednesday’s FOMC meeting as investors price the aggressive monetary hiking cycle as being closer to the end.
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A quiet night for data, but a big night for bonds.
Markets Today – Here I Go Again
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Markets Today – Be Alright
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