US caution amidst stock shocks and services slowdown
Wednesday 6tth March 2024
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The US ISM services index showed a larger than expected slowdown. As NAB’s ray Attrill describes, that’s driven interest in bonds, helped by another fall in US equities, driven by falls in tech stocks. Here’s also been a rise in Bitcoin and gold, both hitting record highs. Interestingly, the services PMIs for Europe were generally a little better than expected. So does any of this change the timeline for anticipated cuts by the Fed and ECB? Today, Australia’s Q4 GDP is the…
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