Wednesday 11th December 2019

After a busy start to the week markets have calmed down overnight, in a wait and see mode ahead of a series of events this week that could have some influence. Phil Dobbie suggests to NAB’s Alex Stanley that there is a very slight risk-off sentiment, with uncertainty mounting over the outcome of the US China trade talks, ahead of the weekend deadline. Alex also mentions the BIS Quarterly Review, which discussed whether the stress experience din the US dollar repo market has eased since September. And the NAB Business Survey is out today. Last time forward looking indicators showed a glimmer of hope that conditions might be stabilising a little, but with business confidence and conditions well below the long-run average for most of this year there’s still a fair way to claw back.