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Afternoon wrap

Chris Weston

Pepperstone

Afternoon wrap. Concerns around global growth have been cited as the reason behind the collapse in risk sentiment and that seems logical given the moves lower in US bond yields. However, most in the market knew there was a strong chance the IMF and World Bank would alter their forecasts some time ago. It was even fairly clear cut that German industrial production had downside risks, yet still European markets saw sellers. Growth-sensitive currencies such as AUD actually rallied against the USD, despite the IMF actually increasing its view of US growth by a sizeable fifty basis points (or 0.5%). The moves all seem very convenient and thus built to fit a story. (VIEW LINK)


Chris Weston
Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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