Daily Alert: It’s mostly priced in

  • US and European stocks rise as investors judge much of the pessimism is already priced into markets. Yields were generally up
  • The Mansion House speech by BOE Governor Bailey launched a strong defence in favour of BOE independence from political tinkering
  • Australian yields and the AUD firms after RBA signal further rate hikes. Our CBA colleagues expect a further 125bp of 2022 hikes for the RBA (2.6% cash rate) as do we for the RBNZ (3.75% OCR)

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