Less US confidence, tough talking ECB

Wednesday 29th June 2022US equities switched direction overnight. NAB’s Taylor Nugent says it was a swift response to a weaker than expected consumer sentiment read in the US, with a particularly sharp fall in the expectations component. European yields are markedly higher today as Christine Lagarde spoke up the task at hand for the ECB, even though she continues to outline a hike of just 25 basis points in July. Today, Australian retail sales numbers are out, NATO continues to meet and the ECB forum in Sintra finally gets down to some meaty discussion.

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