0:02

A listener production. Wall

0:05

Street regains its composure following yesterday's sharp

0:07

sell-off. And the Aussie share market is

0:09

expected to fall on Friday as Fed

0:11

officials highlight the need for patience. I'm

0:13

Tom. And I'm Ryan. It's Friday,

0:15

the 12th of April. Welcome to the ComSec market

0:18

update. Ryan,

0:20

the US markets have just closed. The Dow is flat.

0:22

The S&P 500 up by 0.7%. The

0:26

NASDAQ up 1.7%. So

0:29

we did see tech-related momentum stocks leading the

0:31

charge today. Tom, we need to see- Not

0:33

the open, no. No, not the

0:36

open, but they found their footing and

0:38

that occurred after the weaker than expected

0:40

producer prices data came out for the

0:42

month of March. Given what you've seen

0:44

in the last two days, how would

0:46

you feel about things if

0:48

you were managing a large sum of

0:51

money? Certainly as a bond investor, it's

0:53

a tricky predicament at the moment. And

0:55

we are seeing increasing bearishness in the

0:57

US treasury market. That's for sure. Yesterday,

1:00

we had the biggest one-day loss since

1:02

August 2022. Today

1:04

a little bit of a mixed backdrop, but nonetheless,

1:08

we have seen bond traders positioning

1:10

for the possibility that there's a risk

1:13

for higher, for longer interest rates in

1:15

the United States and perhaps no change

1:17

in interest rates this year. Yeah. The

1:20

volume on that conversation has been

1:23

low for the last couple of

1:25

weeks. It has been there, but

1:27

now it seems to have supplanted

1:29

in some respects that rate cut

1:32

narrative. And that is at

1:34

the hand of June being canceled. No

1:36

rate cut for you in June. That's

1:38

right. So what we have seen is rate cut

1:41

expectations dialed back to September now.

1:43

Of course, we have seen money managers

1:46

reacting to that. Things like

1:48

Schroeder's, for example, they're shorting US bonds

1:50

across some tenors as sticky inflation raises

1:52

the prospect of those higher for longer

1:54

rates. Yeah. So in the

1:57

short space of time, things have turned

1:59

around aggressively. And within that

2:01

I actually think that bond markets

2:03

were reasonably well behaved. Last night,

2:05

Under the circumstances, a ten year

2:07

government bond ultimately ended up rising

2:10

by to basis points to four

2:12

fifty six Such that's a modest

2:14

moved under the circumstances. Still, Above

2:16

that four and a half level that with

2:19

sizes as being a troublesome for stocks but

2:21

the are they did get a look a

2:23

little bit higher than high as four fifty

2:25

eight to ten years. still the highest levels

2:28

this year to your government bonds actually ended

2:30

up keeping by the end of the session

2:32

so that would down by about four basis

2:35

points to four point nine three percent that

2:37

they did have a look at that five

2:39

percent area early on in the session. the

2:41

highest level since November yes I touched fought

2:44

to send be So Us produce prices increase

2:46

in March from he really by the most

2:48

eleven months. as big focus tonight's on the

2:50

fact that most wholesale prices paid. Were.

2:53

Weaker than expected say to produce a price

2:55

index rose by zero point two percent a

2:57

march. Expectations were four zero point three percent

2:59

lift the annual growth right listed from one

3:01

point six to two point one percent as

3:03

a mates and that's the most and laden

3:05

months. Of. Course and Mrs

3:08

chose to look at the monthly move which

3:10

was weaker than what we had previously seen

3:12

in Sea Bream. Particular, we saw a big

3:14

jump a zero point six percent. the core

3:17

measure, right? Zero point two percent of much

3:19

as well. The annual cool measure analyzed listed

3:21

from two point seven percent to two point

3:23

eight percent. But what we're saying with these

3:26

numbers tom is some really soft to The

3:28

consumer Price index was stronger than expected yesterday.

3:30

a pleasure at point four percent. But.

3:33

The several categories in the produce

3:35

a price index that been informed

3:37

Us Federal Reserve pursued inflation measure

3:40

the personal consumption expenditures price goods

3:42

such as health care personally management.

3:45

And a say for example, and I'll time

3:47

in. Softer. Than expected or not

3:49

as strong as a had been and Sea

3:51

Breeze and that's when markets to perhaps expect

3:53

that number later this month to be a

3:56

bit softer than the actual Consumer Price Index

3:58

number said bearing in mind that Pay. Could

4:00

be listening to this before that had

4:02

this says coffee. Let me just as

4:04

I interpret some of what you said,

4:06

such a producer. Inflation is what we'd

4:09

send to refer to as upstream. it's

4:11

license house seats to think of a

4:13

river. it's like ah, close to the

4:15

source of the rhythms and it's were

4:17

inflation starts to have it's origins because

4:19

it's what happens in a sack, trailer,

4:22

manufacturing level and there are numbers in

4:24

these figures that and save into what

4:26

the Us Central Bank will set quite

4:28

carefully. which is us that numbers. Around

4:30

what people earn and spend as

4:32

a and inflation visit with in

4:35

or that's bottom line is the

4:37

euphoria around the in size and

4:39

story has it's origins of the

4:41

towards the end of last year.

4:44

And. Since then we have seen incremental

4:46

increases the it as a producer

4:48

or Cpr level that now make

4:50

the idea of cutting rights a

4:52

lot harder and you have to

4:54

argue a lot hotter if you're

4:56

in those central bank meetings. So

4:58

why in the Us particularly interest

5:00

rates should be cast? Audience A

5:02

very good explanation Tom we saw

5:04

the Cost of Senses increase your

5:06

I point three percent within the

5:08

Pp numbers today and that rose

5:10

by the same much since spree.

5:13

So basically maxing. The moment is sticking

5:15

his around the services sector that's relates

5:17

wages and old snoring. An. Old

5:19

story. But. What we did see

5:21

as of mates and was portfolio management

5:23

seems kind sir. I put socks and

5:25

essays on the up to twenty percent

5:27

cost of hotel and motel rooms, self

5:30

rape when I percent and health and

5:32

medical insurance rosary point two percent barrel

5:34

weaker or more modest and library. And

5:36

that's what feeds into the Us. It was

5:38

as proceed measured from slice minutes one markets

5:40

are getting and will be deleted. I will

5:42

be so intense the markets last not to

5:44

make a capsule against the video was up

5:46

for the seat. Alphabet got closer to the

5:48

two trillion Us dollar much jumping two point

5:50

bump percent. amazon.com hit a record high closing

5:52

up one point eight percent and Apple top

5:54

four point three percent on use It plans

5:56

to I have a whole it's Mac book

5:58

line of course it's. The back of a

6:01

pack with artificial intelligence at the moment

6:03

and it wants to start competing more

6:05

and more with some of those other

6:07

Mickey Cat names. and of course is

6:09

gonna announce and I the whole and

6:11

and an upgrade of it's Mack Books

6:13

on the back of his indeed summers

6:15

the on the performers in the Us

6:17

and pay five hundred tended to be

6:19

consumers sizing so Walmart shares were down

6:21

three quarters of of the sent. Home

6:23

Depot damps fire and point Eight percent.

6:25

Johnson and Johnson A By that the

6:27

percent. Such a surprise. What is surprising

6:29

is the. Improvement that we saw where

6:31

technology nancy consent. Just referring back to

6:34

that one point seven percent. Increase.

6:36

For the Nasdaq was just quickly across

6:38

to the other side of the pond

6:41

because there was an important event last

6:43

night in Europe with the European Central

6:45

Bank leaving write songs have it was

6:47

interesting because. Christine, like out

6:50

the President of the European Central Bank said.

6:52

I don't think you can draw conclusions based

6:54

on the assumption that to inflation she's referring

6:56

to the Euro Zone and Us are the

6:58

same. They're not the same. We had data

7:00

dependent, not said dependency said sites more that

7:02

that may. Well it's confusing to say the

7:05

least. It did some the couple itself from

7:07

what's going on the United States, perhaps the

7:09

world? My yeah, so we didn't see that.

7:12

Release. Extended to the same market because

7:14

banks to be hit. By. Woods and

7:16

two point four percent nothing steepest,

7:18

one died drop in either eight

7:21

months. And of course we did

7:23

also sea bass expectations around. The.

7:26

Interest rates increased somewhat

7:28

as far as expectations:

7:30

ravaging cuts, consent sites

7:32

despotic, confusing communication. The.

7:34

Likelihood of of the gene right? Cats European

7:36

Central bank remains clear sighted. Vr Uk market

7:38

was down by a half of one percent

7:40

with a foot. he was concerned the French

7:42

market, the tech or on down by a

7:44

quarter of sense. The Gym index is by

7:47

three quarters of the sent. The stock six

7:49

Hundred index was down by or and point

7:51

four percent. In the should be said that

7:53

tonight's is a very busy schedule for the

7:55

Europeans. I'll be back. Passing through quite a

7:57

lot of economic news including city I think

7:59

is. And Uk Gdp numbers. As far

8:01

as a local markets concern on I

8:03

think our markets holding up recently will

8:06

It is a fetus pointing down by

8:08

twenty four point Zero Point Three percent.

8:10

We saw the market down Zero point

8:12

Four percent Yes nights which wasn't too

8:14

bad given the circumstances In the United

8:16

States we see saw weak Chinese consumer

8:18

price. Inflation died yesterday.

8:21

Only up zero point One person of much

8:23

media early suggesting that demand remains very weak

8:26

and produce a price deflation persisted so you

8:28

would have thought that feels he might would

8:30

assault off Moon significantly. A celebrity hold up

8:32

today though. energy producers are gonna be under

8:35

some pressure. We saw the old price he

8:37

was so price down one point four percent

8:39

to eighty Five point zero to us dollars

8:41

a barrel and at the same time. We.

8:44

Did C. L. Process Backup: One percent

8:46

to Twenty Three Seventy Two Point Seventy

8:48

Us Thousand and ass. After those wickets,

8:50

they expected purchase price numbers I know

8:52

was up. Zero Point Seven percent, Two

8:54

hundred and Four Point Seven One Us

8:57

does it's hands on hips. Charlie Stimulus

8:59

yet again, And. Today Tom Ip

9:01

host an annual general meeting and says of

9:03

token.com tried x dividend The Ozzy Zola was

9:05

a bit bumpy. Ivan I did try to

9:07

as low as sixty five point one Us

9:10

sense because of these movements in the grain

9:12

back but it's sad it's footing. Since then

9:14

it's treading back towards sixty five points for

9:16

Us census. been at the last two verses

9:19

this complex week with youth. Thank you for

9:21

your company, have a safe weekend and will

9:23

talk to again on Monday. Is

9:32

Hothouses had approved and distributed in Australia

9:34

by Com Or Securities Limited Ab. and

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Six I Six Seventy Five Four Three

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Double Nine A If a Cell Two

9:41

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9:43

not take into consideration your objectives, financial

9:46

situation or needs. Consider the appropriateness of

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the information before acting and if necessary

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sick. Appropriate Session with best.