Australian shares to start week on the back foot. US, UK and Japan policymakers meet later this week. Follow updates here.
shows the odds of a rate rise this week at 1 per cent. And the odds of an increase in November at 26.7 per cent. Both of those odds have narrowed the last several weeks.
Fundstrat Global Advisor’s Tom Lee said the markets’ reaction to the ECB’s decision to signal it may have reached a peak with its quarter point move last week is a prelude to what will happen in US markets. Lee also said the ECB commentary and the market’s reaction is “a harbinger of the 1982 moment ahead for the SP 500. We have written previously about this, but the key takeaway is equities went to an all-time high 17 trading days after Volcker publicly considered ‘ending the inflation war’.”
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