Tuesday 6th October 2020
As the President prepares to leave for the White House there’s still hope that a deal will be reached to pass version 2 of the Heroes Act, adding more stimulus to the US economy. Phil Dobbie asks NAB’s Gavin Friend if that’s what’s driving the risk-on mood today, or is it the news that the President will be out of hospital soon? Gavin suggests the rising gap in the polls will also be driving the mood, removing the uncertainty perhaps of a drawn out election process. The President told people not to be afraid of COVID in a recent tweet, which could mould his campaign message from now on. The non-manufacturing ISM read has added to the plethora of strong(ish) data from the US. It’s a busy day for Australia today, with the RBA meeting and the Federal Budget tonight.