US equities have been knocked again because those increased tariffs from the US on Chinese imports are looking more likely than not. Phil Dobbie talks to NAB’s Tapas Strickland about a session that has seen a growing concern over trade. To add to the woes, the European Commission has downgraded forecasts again including a drastic cut for German growth. The Aussie dollar has lost the gains it made after the RBA kept rates on hold yesterday, but isn’t a cut just a matter of time? And does this mean the RBNZ is unlikely to cut today? Plus, the Tory backbenchers are planning a mutiny tonight. Will they change the rules to oust their Prime Minster?
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US and Europe – two sides of the same coin
It’s a day of mixed emotions, says NAB’s Rodrigo Catril, with equities heading in opposite directions on each side of the Atlantic. COVID19 news is mixed too – there are glimmers of hope but the timescale may be longer than many had hoped.
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The day after. No big bounce.
Markets haven’t bounced back much since yesterday’s surprise CPI. NAB’s David de Garis says they are still entertaining the possibility of a 100bp rise by the Fed.
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Share Crazy
The world is facing the greatest economic downturn of our time. And yet shares are reaching new highs. How can this be?
