US Debt Ceiling Default: Unraveling Global Consequences & Consumer Outlook - ausbiz TV
Clifford Bennett of ACY Securities joins ausbiz TV to share his insights on the debt ceiling crisis in the United States, explaining that bond yields could increase worldwide if the US were to default, as it would reset domestic and global bond markets.
Clifford expresses concern over consumer sentiment in the US, noting that consumer happiness is significantly lower now than during the worst of the COVID-19 lockdowns. He also addresses the possibility of the Federal Reserve increasing interest rates, which could impact equities and bonds.
Furthermore, Clifford provides his perspective on the Australian economy, suggesting the Reserve Bank of Australia's cash rate might rise to 4.1% by July due to global inflation and the country's resilience.
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