Busy week ahead
• Consolidation. Quiet end to a volatile week. Equities continue to recover. Bond yields slip back. USD treading water. AUD below 200-day moving average.• Divergence. RBA pricing still stands out. First RBA cut factored in by Feb. By this point the US Fed & RBNZ are assumed to have cut by ~120-140bps.• Event radar. Several important releases this week including US CPI/retail sales, China data batch, UK jobs/inflation, RBNZ meeting, & AU jobs/wages. It was a rather quiet and uneventful end to a volatile week on Friday. The recovery in equities continued with the US S&P500 and Japanese Nikkei edging...