Wednesday 28th May 2025

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In the US investors left for the long weekend with the sudden news of a major tariff hike on European goods just a week away. They were back at their desks on Tuesday morning with the news that that wasn’t happening - not this week anyway. The result has been a jump in US shares, coinciding with the Conference board survey also jumping back from the postponement of Liberation Day tariffs. Also today, NAB’s Taylor Nugent explains why we’ve seen a 19bp drop in 30 year Japanese yields. He also previews today’s CPI figures for Australia and the priced-in 25bp cut from the RBNZ today. But what next?

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