October 5th, 2023 – Tim Waterer, our Chief Market Analyst, was invited to appear again on BFM 89.9 radio to share his thoughts on the latest news and developments in the world of global financial markets.
Tim was interviewed live on-air by the hosts of the Market Watch program on BFM 89.9 radio, where he was asked about the latest US jobs data and how this may impact the upcoming FOMC policy meetings in November and December. Tim noted that US labour market strength has been a source of inflationary pressure this year and that any continued jobs market strength could impact where the FOMC goes from here with regards to interest rates.
The discussion then turned to US treasury yields having recently risen to 16-year highs, with the hosts keen to know how Tim thinks this has impacted other regions. Tim commented that yields around the world are at elevated levels with Australian and Japanese bond yields at10-year highs while in Germany, bunds were at 12-year highs, however the sharpest moves so far have been seen in US treasuries due to excess liquidity and heightened interest rate expectations.
The hosts of Market Watch were also curious to know about whether Japanese officials would attempt to intervene in the currency market to defend the Yen. Tim commented that Japanese officials seem prepared to intervene, however the momentum in US bond yields was complicating the situation given it was not just a story of Yen weakness but also one of USD strength at the moment.
BFM 89.9 is a highly regarded radio station in Malaysia with a focus on business news. With a studio based in the capital city of Kuala Lumpur, BFM 89.9 often invites experts in financial and business matters to help inform their audience. Since first visiting the Kuala Lumpur studio for an in-person appearance back in March of this year, Tim has appeared regularly on BFM 89.9 throughout 2023 to share his expert analysis and to provide his take on what are the key themes and trends moving the markets. For more analysis from our team of experts, please visit the Daily Analysis and Weekly Update page of our website.