China’s authorities moved over the weekend to stimulate stock market activity, but an initial 5% surge has faded overnight to close just 1% up.
In part one of a bonus deep-dive interview, ANZ’s Senior Rates Strategist Jack Chambers details why the RBA may accelerate its Quantitative Tightening (QT).
5 things to know
China cut stock trading levies and margin requirements, sparking an initial 5% surge, but that faded overnight as overseas funds sold into the rally. ANZ’s Head of FX Research Mahjabeen Zaman explains the changes.
Australian retail sales rose 0.5% in July, which beat expectations slightly, but ANZ Economist Maddy Dunk says consumers are still under pressure.
European money supply fell for the first time in 13 years. So will the ECB still hike again on September 14? ANZ’s Head of G3 Economics Brian Martin thinks not.
Traders are watching for Japanese intervention around 146 yen. Mahjabeen Zaman explains why the Ministry of Finance might hold back this time.
Australia’s Treasury says in its intergenerational report the number of people over 80 will triple by 2063. Maddy Dunk looks at the fiscal implications.
Cheers
Bernard
PS: Look out tomorrow for part-two of our deep-dive with Jack Chambers on whether an acceleration of RBA’s QT is actually a monetary policy tightening.
