• Powell resetting expectations?

  • Sep 30 2024
  • Length: 18 mins
  • Podcast

Powell resetting expectations?

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  • Tuesday 1st October 2024


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    Some of the biggest moves yesterday were hardly surprises. The sharp rise in Chinese equities and the fall in Japan. On China, NAB’s Gavin Friend wonders whether markets are too optimistic and whether there’s a pushing on a string element to some of the reforms there. US equities finished higher, having spent much of the session in the red, whilst there were further moves up in bond yields. Gain says there’s some commentary on Jerome Powell winding back on rate cut expectations, when really he was simply reiterating the need to wait and see the dat. That data starts today, with the JOLTs job opening numbers in the US. Australian retail sales will be watched keenly today and survey data for New Zealand could held determine whether the RBNZ goes for a 25bp or 50bpcut next week. Also, NAB has moved forward its forecasts of when the RBA will cut. Listen in for the latest prediction.


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