Heading for a choppy end to Q2

NAB Morning Call

Tuesday 28th June 2022The volatility of the past few months means there is likely to be a greater need for rebalancing at the end of the quarter this time, says NAB’s Rodrigo Catril. Hence, we have seen a mixed picture overnight, with equities down, yields rising, the Aussie dollar suffering another fall and oil and iron ore rising in price, but each for differing reasons. Yet the overarching picture is one of uncertainty. Nobody is sure that central banks can combat inflation without instigating a recession, and nobody has a clear picture about how the Ukraine war will end. Once again, we try and map out a picture in the face of markets, geopolitics and data releases.

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