Markets jump on JOLTs and RBA surprise

Wednesday 5th October 2022

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There’s plenty of talk of a Fed pivot according to JBWere’s Sally Auld, but is it an overreaction? The drivers have been the smaller than expected rise by the RBA yesterday and one million less jobs being advertised in the US. Bond yields have fallen and the equity markets are lapping it up. So, today, will the RBNZ follow in the RBA’s footsteps? Markets are expecting a 50 basis point rise in New Zealand, but that’s what they said about Australia.

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