Running for cover
Notas do episódio
Friday 23rd October 2026
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Phil is joined by NAB's Gavin Friend to analyse a sharp risk-off session across global markets, driven by tech valuation worries and ongoing Middle East energy supply disruptions. US equities fell heavily—led by a 2.7% drop in the Nasdaq following Meta’s increased capital expenditure outlook—while benchmark Brent crude oil surged near $113 per barrel amid Houthi drone strikes and escalating transport costs. Investors rushed into safe-haven Treasuries, pushing US 10-year yields down 16 basis points, while European bond markets saw further divergence as French OAT yields jumped on fiscal uncertainty, pushing the French German 10-year spread wider. Market attention will remain on US tech earnings alongside central bank decisions next week, and preliminary October PMI prints today.
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