Friday 26th June 2020
Despite growing concerns about the rise in COVID-19 cases in the southern states of the US, equities rose today. NAB’s Gavin Friend explains how the easing of banks’ investment rules contained in the so-called ‘Volcker Rule’ has helped to boost stocks. Otherwise, good news is few and far between. Durable goods orders were higher than expected, but distorted by volatile aircraft orders, and the number of newly unemployed in the US last week is higher than expected. Meanwhile, the distraction of a global pandemic seems to have put Brexit on the back burner, but could there be a determination to reach a conclusion quickly?