Brits Big U Turn, America Buys the Dip

Tuesday 18th October 2022NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThe UK government decided it couldn’t wait till the end of the month to reverse almost all of their unfunded tax cuts, so they did it yesterday, much to everyone’s surprise. Markets have taken it well, with big falls in bond yields and a rise in Sterling, but as JBWere’s Sally Auld points out, there is still a big budget gap to bridge. The impact has helped buoy US equity markets though – perhaps looking for a buy-the-dip excuse. Today look out for NZ CPI and the minutes of the last RBA meeting, when they surprised with a less than expected 25bp rate hike. Hosted on Acast. See acast.com/privacy for more information.