Friday 25th September 2020
Equities were rising again in the US overnight on the hopes that a stimulus deal would be struck between the GOP and Democrats, but as optimism turned to reality, prices fell, the US dollar regained some of its strength and bond yields weakened. NAB’s Gavin Friend says it demonstrates how markets are clinging to any good news in amongst what’s a pretty bleak picture right now. The pound gained a little ground as the Chancellor Rishi Sunak unveiled the follow-up to the furlough scheme, but its clear many workers will not be covered and unemployment will rise. Have we reached the end of the road for sizeable bailouts from governments?