Market In Review 46/2022

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Well last week was fun! The fallout of FTX initially spread to stocks but then stocks looked past that and with the, slightly, weaker CPI print roared higher.

Market In Review 08/2022

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The USA is on holidays today so it should be a quiet start to the week. Data wise, there is a bunch of PMI’s out this week from Europe and USA. Personally I do not put a lot of weighting on PMIs as they are only a survey of expectations, not hard data of what has actually been manufactured or serviced. Also, there is the Kiwi Central Bank meeting, with the RBNZ expected to raise again to 1%.

Market In Review 07/2022

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The USA inflation numbers printed the highest in 40 years at 7.5%, which the market took as a near certainty of a rate rise. This was reinforced by the US Fed member Bullard voicing extremely hawkish comments later that day. The odds of a rate rise of 50 basis points at the next Fed meeting shot up to 70%. The market was even pricing in a 25% chance of a 25 bp move before the next Fed meeting in March, a chance this week in fact.

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