Daily Note – Sunny Glasgow

Sunny GlagowSummary:

Policy Uncertainty Weighs on Australia’s Economy

United States: Existing home sales accelerate in March

United Kingdom: MPC Minutes: The Committee continues to suggest higher rates are coming

 

Good morning from sunny Glasgow.

I am seeing investors here and have had brilliant conversations. I’ll update you soon on them.

On the basis that it’s sunny, let’s head to Australia. On April 7, the Reserve Bank of Australia kept rates at 2.25% for the second month in a row, somewhat wrong-footing markets once again. Bond market participants, in turn, simply moved their rate cut expectations from April to May, seemingly without wondering or worrying about what new information would be required to catalyse a rate cut.

Their assumption may be premature.

 

Download a FULL PDF version of the Daily Note:

Global Macro-Daily Note 23rd April 2015

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