Thursday 8th February 2024
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Once again central bankers have been out pushing the message that rates will not be coming down quickly. What’s more, the neutral rate is likely to be higher than before. There was a lacklustre response from bond markets, which managed to absorb $2 billon worth of new issuance. The market moves have been in equities, with the S&P close to, but not quite hitting - 5,000. Phil asks NAB’s Tapas Strickland whether this is misplaced optimism.
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