Has the Buck Topped Here?

Real Vision: Finance & Investing

Real Vision

Business News, Business, Investing, News

4.1 • 1.1K Ratings

🗓️ 16 November 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. retail sales were up more than expected in October, posting the biggest month-over-month gain since February, but equity indexes struggled after Target posted disappointing third-quarter results and warned of a soft fourth quarter too. The yield on the 10-year Treasury yield declined, though the two-year/10-year curve inversion deepened on expectations the Federal Reserve will maintain a hawkish monetary course. The Atlanta Fed’s GDPNow tool currently shows 4.4% fourth-quarter growth. Marc Chandler, the managing director of Bannockburn Global Forex would take issue with that forecast: “The US economy is expected to struggle under the weight of past monetary tightening,” he notes, “and what we do not appreciate is the extent of fiscal tightening.” Marc joins Maggie Lake to talk about the big picture, how it’s reflected in currency pairs and global yields, what we should expect from the Federal Reserve, and why we should be skeptical of China. We also hear from Roger Hirst about the broader implications of a dollar pull-back. Watch the full Insider Talks episode featuring Roger Hirst here: rvtv.io/3AiGXJi. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Yeah, it's nice to see you. So full disclosure, Mark and I go way back to when I first started covering markets and I was at Reuters. I'm going to tell you the year.
0:15.0	For both of our sakes, but it's great to have you on, Mark.
0:20.0	Thanks. It has been such a long time. It's really remarkable at this time. The industry works.
0:25.0	Each people up, churns them out. And if there's some people who are able to survive in various ways,
0:30.0	over the years. Yeah, and the good thing because, you know, when that happens, you've got all that good experience. And we need it now, right? I mean, we have to go back a long time to see the kind of volatility.
0:40.0	We've been seeing, especially in currencies. It's been pretty extraordinary.
0:45.0	Which of course, is your wheelhouse. So let's start with the US dollar that everyone for months and months, we're talking about the dollar wrecking ball, the dollar wrecking ball. But we have seen it weakening over the last few sessions.
0:55.0	Does it feel like it's going to be a great deal?
1:00.0	I think the dollar is in a process of topping. And I'd say the currency, I feel the most confident as bottom is the British crown.
1:08.0	Usually fighting is up your respiratory thing, right?
1:10.0	I think it's going to be a great deal.
1:12.0	I think it's going to be a great deal.
1:13.0	I think it's going to be a great deal.
1:14.0	I think it's going to be a great deal.
1:15.0	I think it's going to be a great deal.
1:16.0	I think it's going to be a great deal.
1:17.0	I think it's going to be a great deal.
1:18.0	I think it's going to be a great deal.
1:19.0	I think it's going to be a great deal.
1:20.0	I think it's going to be a great deal.
1:21.0	I think it's going to be a great deal.
1:22.0	I think it's going to be a great deal.
	...

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