Eamonn Sheridan

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Stock market update
Goldman Sachs sized 22 July 2025 2
Stock market update

Goldman Sachs lifts MSCI EM target, sees EMFX outperform G10

  • Goldman Sachs has raised its MSCI EM Index 12-month target to 1,480 and expects EMFX to outperform G10 currencies, citing favorable carry, resilient growth, and strong capital flows. The bank sees a supportive environment for emerging markets into year-end.
Central Banks
us august pce 24 September 2025 calendar
Central Banks

The Fed prefers PCE as its inflation gauge. CPI drives markets, but PCE drives Fed policy.

  • The Fed prefers PCE as its inflation gauge because it adjusts weights more frequently and better reflects consumer behavior, but markets still trade mainly off CPI due to its earlier release and entrenched habit.
Central Banks
Reserve Bank of Australia building rba aud 22 July 2025 2
Central Banks

ICYMI - NAB pushes back Reserve Bank of Australia cut call as CPI surprises higher

  • NAB now expects the RBA to hold rates at 3.6% until May, 2026, citing hotter-than-expected CPI data this week.
News
Consumer Sentiment
News

New Zealand September consumer confidence 94.6 (prior 92.0)

  • ANZ-Roy Morgan New Zealand Consumer Confidence Index
Stock market update
Stocks close little changed
Stock market update

UBS still flying the flag for higher equites, sees S&P 500 as high as 7500

  • UBS expects 75bp of Fed easing and AI-led growth to lift the S&P 500 to 6,800, with 7,500 in a bull case.
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