Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson on financial markets pricing in interest rate cuts

Transcript

Shane Solly: Harbour Asset Management spokesperson on financial markets pricing in interest rate cuts · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from Newstalk Z'B follow this
• 0:13
  Speaker 1: and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Shane Solely from Harbor Asset Management is with us A.
• 0:19
  Speaker 3: Shane Hi here.
• 0:20
  Speaker 2: That so well, thank you mate. So we see the
• 0:22
  Speaker 2: markets around the world of continuing to price in the
• 0:24
  Speaker 2: interest rate carts, right, is this should we be expecting
• 0:28
  Speaker 2: this space on the data we're seeing?
• 0:30
  Speaker 3: Yeah, Look, I think we continue to see release data
• 0:33
  Speaker 3: releases during the month that show US as this market
• 0:36
  Speaker 3: friendly profile and moderating price pressure and activity falling without
• 0:40
  Speaker 3: blowing up. That supports central banks continuing the cut rates.
• 0:44
  Speaker 3: Last week on Friday, we saw the US personal consumption
• 0:49
  Speaker 3: experishi of inflation, that's the one the US said, watches
• 0:52
  Speaker 3: coming in line with expectations about point two per seing
• 0:55
  Speaker 3: up for the month. So nothing to disturbed markets. Markets
• 0:57
  Speaker 3: are expecting a quarter of percent cut September from the Fed,
• 1:01
  Speaker 3: and certainly it's on track. We've got some data out
• 1:04
  Speaker 3: on Friday, the US employment data that will be really
• 1:07
  Speaker 3: closely watched, but weirdly it's the case of whether it's
• 1:09
  Speaker 3: a quarter or half a percent. So yeah, the data's
• 1:12
  Speaker 3: on track.
• 1:13
  Speaker 2: Okay, So they're looking okay in the US. What the
• 1:14
  Speaker 2: hell's going on with China? Mm?
• 1:17
  Speaker 3: Yeah, really Max, we see some really choppy data out
• 1:19
  Speaker 3: of China. Today. We saw one set of data the
• 1:22
  Speaker 3: Kaijin Manufacturing Purchasing Management in Mix. It's a bit of
• 1:25
  Speaker 3: a mouthful to lead indicator for inputs particularly from small
• 1:30
  Speaker 3: medium size enterprise, and that was good. It was fifty
• 1:33
  Speaker 3: point four, so above expectations which are fifty and that
• 1:37
  Speaker 3: Thik there was a bit of an expansion. But on
• 1:39
  Speaker 3: over the weekend we saw another set of data which
• 1:41
  Speaker 3: is the official Manufacturing and Purchasing Mandarindix, which is so
• 1:45
  Speaker 3: stay owned enterprises, so different step from the small medium
• 1:50
  Speaker 3: sized enterprise, and that came in lower at forty nine
• 1:52
  Speaker 3: point one. A lot of expectations are twenty nine point
• 1:55
  Speaker 3: five and that suggests the economy is slowing. So look,
• 1:58
  Speaker 3: the data just is mixed, it just reduced. Now the
• 2:00
  Speaker 3: Chinese economy continuing to go to a bit of research.
• 2:03
  Speaker 3: So something to watch for New Day on Economy.
• 2:05
  Speaker 2: Because the staff Chane is always good to talk to you.
• 2:06
  Speaker 2: We'll talk to you next week, mate, look after yourself.
• 2:08
  Speaker 2: Shane Solly Harbor Asset Management.
• 2:10
  Speaker 1: For more from News Talk set B listen live on
• 2:13
  Speaker 1: air or online, and keep our shows with you wherever
• 2:16
  Speaker 1: you go with our podcasts on iHeartRadio