‘Weaker readings’: Service and manufacturing sectors slow in US and European markets
CommSec’s Tom Piotrowski says US and European markets saw “weaker readings” on activity in the services and manufacturing sectors.
“In the case of the US, that sort of went cheek by jar with the upgraded forecast that we saw for unemployment and growth in the US,” Mr Piotrowski told Sky News Australia.
“The problem is that is suggestive of higher interest rates at a time when we’re seeing moderating rates of activity.
“And that was not welcome on the part of the markets.
“We did see a little bit of a moderation where interest rates were concerned, but still in weekly terms both long and short term interest rates in the US for example are up by a pretty meaningful margin.”
Presented by CommSec.
CommSec’s Tom Piotrowski says US and European markets saw “weaker readings” on activity in the services and manufacturing sectors.
“In the case of the US, that sort of went cheek by jar with the upgraded forecast that we saw for unemployment and growth in the US,” Mr Piotrowski told Sky News Australia.
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“The problem is that is suggestive of higher interest rates at a time when we’re seeing moderating rates of activity.
“And that was not welcome on the part of the markets.
“We did see a little bit of a moderation where interest rates were concerned, but still in weekly terms both long and short term interest rates in the US for example are up by a pretty meaningful margin.”
Presented by CommSec.
