Friday 21st December 2018

US stocks have fallen markedly since the Fed meeting yesterday, with the dollar also taking a hit and the yield curve flattening a little. Phil Dobbie asks NAB’s David de Garis why there’s been such a sharp reaction – did they really do anything that wasn’t expected? And how come the Riksbank can lift rates only to see their currency rally? They also discuss the impact of a US government shutdown, the response to yesterday’s weak employment numbers in Australia and a healthy dose of US data tonight, including the PCE deflator.