A global perspective

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


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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As we start a new week, Omicron headlines were positive on Saturday which may add to some stabilisation in risk sentiment.

Risk sentiment recovered overnight with virus/vaccine news flow being net positive

Spreading the wealth: Common Prosperity may start to address inequality in China.

The US CDC has just identified the first case of Omicron in the United States – joining the UK, Switzerland and Brazil overnight – at a time when US infection rates of the delta variant had already started creeping back up.

The overwhelming negative influence late in the month was the emergence of the Omicron covid-19 variant and doubts over the efficacy of existing vaccines against this strain and all that might imply for the global economic re-opening process.

NAB expects that the RBA will raise rates from mid-2023 with a relatively aggressive series of hikes thereafter.

It has been a volatile session overnight driven by differing headlines around vaccine efficacy, capped off by very significant hawkish tilt by US Fed Chair Powell in Senate Testimony.

Global markets have seen a modest retracement of many of last Friday’s violent ‘risk-off’ moves, with equities higher in Europe, so too US government yields up, as too is oil, but in all cases to nowhere near Friday’s closing levels.

Omicron uncertainty triggers a rethink on the global economic outlook

BoE’s Bailey still guiding that rates will need to be higher ahead of the Dec MPC meet.

Dovish Fed Official (Daly) flips to looking at accelerating tapering and to hikes in 2022

Eurozone PMIs spring upside surprise, supporting EUR and holding USD in check

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