Wednesday 8th February 2023

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There wasn’t too much new from Jerome Powell when he was interviewed by the Wall Street Journal’s David Rubenstein, but that didn’t stop a rally in bonds for a short spell. It was followed by a swift reversal, perhaps on the realisation that he hadn’t actually offered anything new. NAN’s Rodrigo Catril says, nonetheless, it was a refreshingly open discussion reflecting the transparency of the Fed these days. At home a more hawkish RBA has seen bond yields rise sharply, with the expectation of more than one rise still to come.

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