The battle to be king of the doves
Thursday 25th February 2021As the reflation trade continues to push bond prices lower and commodities higher, central bankers are fighting amongst themselves as to who can sound the most dovish. That’s helping push equities a little higher this morning. The Fed’s Jerome Powell and BoE’s Andrew Bailey were both in front of parliamentary committees overnight, each suggesting rates would stay low and any rising inflation was transitory for now. NAB’s David de Garis says the RBNZ was toeing the same party line, suggesting the outlook remains highly uncertain. Today the weekly claims numbers for…
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