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It’s been a tumultuous week for financial markets.
Stocks have plunged around the world, US bond yields have scaled multi-year highs, crude oil spiked to the highest level in four years and the Aussie dollar tumbled to lows not seen since early 2016.
The list could go on. Volatility has returned after several months of calm. The macro backdrop appears to have deteriorated, at least based on the price action seen in markets.
To help dissect it all, David is joined this week by two debutantes on the Devils and Details podcast: Sam Jacobs, Markets and Economics Reporter at Business Insider Australia and David Goodman, Head of Macro Strategy at Westpac Bank.
We discuss the catalysts behind the sharp selloff in global stocks, particularly the outlook for Fed policy and US government bond yields, two factors that have undeniably contributed to the carnage, mirroring what was seen in February this year.
The outlook for US economic growth, whether the Aussie dollar will continue to plunge and the risk of a disorderly price downturn in Australia’s housing market also feature in discussions.
We conclude by discussing the looming fourth industrial revolution, something that could greatly influence the outlook for inflation, debt servicing and the mandates of central banks.
We hope you enjoy the show.
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