Macro: It’s all about elections and keeping status quo
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
Global Macro Strategist
Summary: After New Zealand cut rates and Australia didn't, where does that leave us? Does this policy divergence signal a race to the bottom between a proactive Reserve Bank of New Zealand and a potentially reactive Reserve Bank of Australia?