Recession risks rattle markets
• Global worries. PMI data underwhelmed reinforcing recession concerns. Equities & bond yields fell, while the USD has strengthened.• AUD pressure. The backdrop has weighed on the cyclical AUD. Locally, the CPI indicator (Weds) & retail sales (Thurs) can influence RBA rate hike expectations.• Central bankers. Fed Chair Powell, ECB President Lagarde, BoE Governor Bailey, & BoJ Governor Ueda speak on Wednesday. Risks markets remained under pressure at the end of last week as global recession concerns rattled nerves. Weekend geopolitical developments in Russia is another thing to add to the ‘worry wall’. Economically, the June business PMIs for the...