An Ocean Apart

NAB Morning Call · Mar 8, 2023 · 13m

Thursday 9th March 2023

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There’s a lot of water between where Jerome Powell sees the Fed heading and how Philip Lowe is seeing things from the RBA’s viewpoint. NAB’s Tapas Strickland says there’s been no market retreat from yesterday’s positions, when we saw the US dollar rise, Aussie dollar fall and a divergence in yields, with US treasuries rising and Aussie yields falling. Speeches from Philip Lowe and Jerome Powell have done little to change the mood. Meanwhile the Bank of Canada is on hold, with…