Markets accept a little more risk

Tuesday 17th October 2023

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Markets have backtracked on their measure of risk emanating from the middle east, with hopes that some sort of resolution will be brokered to avoid a regional war. NAB’s Skye Masters says it’s a response to the fact that things haven’t escalated in the last 24 hours. Meanwhile, in the world of central banks, markets are waiting in anticipation for a Jerome Powell address later in the week to see if he mirrors the suggestion from others at the Fed that higher yields could negate the need for further hikes in rates. It’s a different message from the BoE’s Huw Pill who said the question of more rises was ‘finely balanced’. Lots of data today, including US retail sales, CPI for NZ and Canada, UK wages data and the RBA minutes.

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