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Global insights and research for organisations and investors with cross-border interests.

LATEST FEATURE

16 Nov 2021

NAB Superannuation FX Hedging Survey 2021: summary

Our 10th biennial survey – the only survey of its kind to examine hedging techniques of Australian Super Funds – captures their shifting priorities in this rapidly changing landscape.

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23 Nov 2021

AMW: Austria’s lockdown – should we worry?

Austria has re-imposed lockdown restrictions with a sharp rise in hospitalisations being driven by both the unvaccinated and older fully vaccinated people.

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INSIGHTS, TRENDS AND CASE STUDIES

Bond yields retreated at the end of last week even though the assumption remains that the Fed will signal a March hike.

RBA to end QE in February while forecasts suggest Omicron is set to peak, adding greater inflation risk.

Latest flurry ahead of January 25-26 FOMC suggests March rates lift off expected.

AUD/USD made its low point for the year on Dec.3 at 0.6993 – the pair’s only foray below 0.7000 in 2021.

US and EU equities rebound overnight with mostly positive Omicron news lifting sentiment while company specific news have also helped the cause.

Commodity market news overnight is a fresh surge in European gas prices

Expect a cautious start to the week with the Netherlands going into lockdown on Sunday

For Australia the Q3 national accounts showed a smaller hit to activity than we had expected but we continue to see a very strong snap back in activity in Q4. Globally, advanced economy growth was robust in Q3, and a similar outcome is expected in Q4 albeit with a shift in the source of growth away from Europe towards the US and Japan.

Against the consensus view for an unchanged outcome, the BoE unexpectedly also raised rates by 15bps to 0.25%.

Global recovery continues but inflation is high and Omicron a concern.

November data show little underlying improvement from October’s weakness.

The FOMC delivered a hawkish tilt for Christmas with the Fed dot plot showing three rate hikes in 2022 while also accelerating the taper profile.

US PPI beat expectations fuelling hawkish FOMC expectations

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