Wednesday 17th June 2020
Market sentiment is higher again this morning from a surprise rebound in US retail sales, coupled with talk of a $1 trillion infrastructure program from the Trump administration, and more stimulus from the Fed. News that an existing low cost drug can significantly reduce the COVID-19 death rate has added to the good news. On the downside, the virus is staging a comeback in various places, including Texas, and the UK is facing worse than expected unemployment numbers.
-
Productivity through growth – why it makes sense to run the economy hot
Was Dutch economist Verdoorn right when he declared that people are productive when the economy is doing well? A positive spiral. Steve Keen says yes he was, but not necessarily for the right reasons.
-
Suddenly, Europe shines brighter
A huge jump in he Aussie dollar. NAB’s Ray Attrill explains that, in part, it’s the indirect result on the rise in the Euro as a recovery package is finally agreed.
-
Virus concerns spread, RBA rate cut might be delayed
Growing risk-off mood on Corona virus spread. NAB’s Gavin Friend on this, plus Aussie employment, the ECB strategy and big day for PMIs.
