Aus job ads
ANZ job ads, in general, continue to suggest a very strong backdrop to labour markets.
Hence the RBA’s near-emergency policy settings are misplaced.
Those settings are expected to close out, in short order, mind you.
We continue to see higher rates as supportive to rate sensitives (unsurprisingly, by definition!) across banking and insurance, and as deadly to cyclical as well as secular consumer discretionary, tech, and health names.
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