Wednesday 6tth March 2024

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The US ISM services index showed a larger than expected slowdown. As NAB’s ray Attrill describes, that’s driven interest in bonds, helped by another fall in US equities, driven by falls in tech stocks. Here’s also been a rise in Bitcoin and gold, both hitting record highs. Interestingly, the services PMIs for Europe were generally a little better than expected. So does any of this change the timeline for anticipated cuts by the Fed and ECB? Today, Australia’s Q4 GDP is the big number to watch, along with the US job openings numbers. And get the popcorn ready for the results from Super Tuesday, but I think we know who wins.

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