5 in 5 with ANZ
5 in 5 with ANZ
Wednesday: US stocks slide on 'higher-for-longer' rates views
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Wednesday: US stocks slide on 'higher-for-longer' rates views

S&P 500 down 1.2% on firmer bond yields since Fed's 'higher-for-longer' rates view; US consumer confidence slides; Australia CPI previewed; Inside NZ's 'Truckometer'; Khoon Goh's Asian GDP indicators

US stocks are down this morning on concerns about higher interest rates for longer and a slide in US consumer confidence

In our bonus deep-dive interview, ANZ’s Head of Asia Research Khoon Goh details a couple of new leading indicators for Asian GDP growth.

5 things to know

  1. The S&P 500 is down 1.2% in late trade on ‘higher-for-longer’ interest rates. US 10 Year Treasury yields are up 20 basis points to 4.55% in the last week, but were flat overnight, as at 5am AEST.

  2. The US Conference Board’s measure of consumer confidence fell 5.7 points to 103 in September. Higher fuel prices were a factor.

  3. ANZ’s Head of Australian Economics Adam Boyton sees Australia’s annual CPI inflation rate unchanged at 4.9% in August data due today. Petrol prices are the key.

  4. Adam says the RBA will be wary of reacting to any higher headline number driven by petrol prices. It’s watching for second round effects.

  5. ANZ NZ’s ‘Truckometer’ Index showed a rebound in heavy truck movements in August, indicating momentum in the economy, says ANZ NZ Economist Andre Castaing.

Cheers

Bernard

PS: Have a great day. Look out tomorrow for the latest on Australian inflation.

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5 in 5 with ANZ
5 in 5 with ANZ
A daily podcast hosted by Bernard Hickey that gives you the five things you need to know about the global economy and markets in under five minutes. Plus a deep dive into emerging trends and issues featuring ANZ's global team of experts.