Quicknotes

Quicknotes are short macro investment insights, focus on immediate market movements and news. Central banks, bonds, forex, commodities and stocks.

The 0.2% decline in retail sales is too early to point to as an indicator that things are slowing down. The fall was worse than expected but is just one…
We continue to think Australia will end 2022 as one of the world’s best placed developed economies. Today’s 3.4% unemployment rate was better than…
Last night’s inflation data in the US is not a one-off but likely to be the first signs of a trend that builds into 2023. The reason we say this is that…
The Fed did pivot overnight, from hawkish to even more hawkish, which isn’t the type of pivot most in the market were expecting. It’s clear now that the…
The RBA is now set on a clear path of 25 bpts increases to fix the inflation problem but it now longer feels rushed or hurried. There is a sense of…
There's no doubt that last week's inflation numbers were bad and will worry the RBA. But we don't think they're enough to change course from a 25bpts…
The European Central Bank (ECB) followed through with their 75bpts rise last night but it wasn't anywhere near the 100bts hike some analysts were…
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