Monday 24th May 2023

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There’s still no resolution on the USD Debt Ceiling. NAB’s Taylor Nugent says expectations are that a deal will be found in time, but markets are getting nervous, with falls in equities across the board (except energy). Inflation concerns continue to mount up, with the latest PMI data in the US and Europe showing that, in general, the service sector continues to expand whilst manufacturing falls further. The UK’s headline inflation rate will fall markedly, but it’s the core number that counts. And we see what the RBNZ is planning to attack persistent inflation – a 25bp is expected but there is an outside chance they will go harder today. 

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23 May 2023