Flip-Flopping Markets Signal More Uncertainty Ahead!

Ahead of the US holidays, we now know Jerome Powell will still be heading the Fed with an inflation noose round his neck, more Oil is being pulled from strategic stockpiles, while the global supply chain machine continues to stutter from queuing ships trying to unload, a shortage of pallets and containers, trucks, warehouse space and drivers. No surprise then that bonds rates rose, tech stocks dopped and bank stocks lifted.

Meantime in New Zealand, they listed the cash rate again. The Monetary Policy Committee agreed to raise the Official Cash Rate (OCR) to 0.75 per cent. The Committee agreed it remains appropriate to continue reducing monetary stimulus so as to maintain price stability and support maximum sustainable employment.

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Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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