Analysts at ANZ explained that a couple of major events have passed and the market has yet to react meaningfully.
Key Quotes:
“UK PM May survived the Tory play at power.”
“The GBP reacted positively, but soon unwound gains. US CPI came in as expected, with the market largely ignoring the result.”
‘The largest market move of the day came from news that Fed Chairman Powell is considering holding a press conference after every FOMC meeting. Markets speculate this could mean a higher chance of additional rate hikes. US equities were broadly unchanged with European indices down a touch.”
“The dollar was generally stronger against the G10 with the AUD underperforming.”
“The US curve flattened with 2-year yields up 1.6bps and 10-year up 0.6bps. Oil lifted after Iraq joined the group of OPEC members against lifting supply.”
“Gold dipped.”
Share
