Markets out of steam on inflation day

Wednesday 10th November 2021There’s been a move away from risk assets. It could just be equity markets running out of steam after a particularly strong rally, but a Financial Stability Report from the fed warning of “perilous lunges for risky assets” probably didn’t help. NAB’s Ray Attrill says it’s hard to join all the dots right now about why the mood has shifted, but inflation continues to be a concern. It was reflected in the NFIB small business report, along with difficulties in obtaining staff. There’s optimism in Australia though, evidenced by the NAB Business Survey yesterday. Today, US CPI will be the focus, along with producer prices from China. Two key numbers for inflation watchers.

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