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NAB Morning Call
All eyes on Jackson Hole
Aug 18, 2024
Rodrigo Catril joins to share his expertise on central banking and financial markets. He discusses the imminent Jackson Hole Symposium and speculates on whether Jerome Powell will hint at rate cuts. Markets are showing optimism with consecutive growth in the S&P index. The conversation also touches on the Riksbank potentially making significant rate changes and how recent data from Canada could influence its decisions. Consumer sentiment improvement amidst volatility and the challenges in the U.S. housing market also make for compelling insights.
14:39
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Quick takeaways
- Global equity markets have surged, reflecting optimism as indicated by the NASDAQ's over 5% rise and declining bond yields.
- The Jackson Hole Symposium will play a crucial role in shaping future interest rate decisions, influenced by mixed signals from Fed officials.
Deep dives
Optimism in Global Equity Markets
Global equity markets experienced a notable upsurge, marking the best week in nine months with significant gains across major indices. The NASDAQ rose over 5% and both the Dow and S&P 500 increased by about 0.2% on Friday. Meanwhile, European markets like the Euro Stoxx 50 and the Nikkei also saw gains, suggesting a widespread optimism. This rally was observed in the context of a falling trend in bond yields and a weaker US dollar, indicating a positive investor sentiment despite limited substantial economic data.
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Listen to the best highlights from the podcasts you love and dive into the full episode