We are seeing a collapse in consumer confidence, global PMI’s weak, services in Europe particularly weak but the European Central Bank is lifting rates. What could go wrong? Isaac Poole from Oreana Financial Services says in Europe, they are on the verge of a recession if not tip-toeing into one already. Comparing in contrast to the US, if it does confirm a technical recession, what could that mean to the Fed ahead of the meeting this week? Poole says a 0.75% rate hike is likely and the opportunity for further rates hikes in Q4 is declining. Poole also comments on 10-year yields, saying there is a risk growth stocks could take some leadership in the near- to medium-term – if longer-dated yields track lower as we expect. To see Isaac Poole’s outlook on these topics and more, watch his full interview.
(Source: Ausbiz)

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