A positive outlook, apart from the downturn

NAB Morning Call

Monday 15th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9There was a lot more positive sentiment around on Friday, because there are more signs that perhaps inflation is peaking. NAB’s Tapas Strickland says strong corporate earnings have helped, and a belief that the Fed will not be moving much further on rate hikes – even though many Fed speakers are keen to argue otherwise. It’s a different story amongst bond markets, were the 2-10 years spread remains firmly in negative territory, suggesting a recession or at least much slower activity for the remainder of the year. The RBNZ meets this week – Phil asks Tapas is they are being viewed as a test case for central banks, given that interest rates are likely to hit 3% this week, amid signs that the economy is slowing.

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