Thursday 8th October 2020
There’s been a market rebound on the hope that some sort of stimulus deal in the US is still possible before the election, but will it really happen? Phil Dobbie asks NAB’s Tapas Strickland whether the rising likelihood of a Biden victory is also an influence. The FOMC minutes haven’t shifted markets much this morning, so was there anything surprising in there? There’s also discussion in today’s podcast on last night’s Australian Federal Budget. There’s plenty of stimulus, but has the government got it right on growth forecasts?
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Virus hits equities, slower growth for US, BoE on hold
NAB’s Gavin Friend suggests Corona news could turn markets either way. Meanwhile, the BoE keeps rates on hold and US growth falls further from President Trump’s 3 percent target.
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China shops, RBA waits, FOMC meets
Positive numbers from China helped boost markets but NAB’s Gavin Friend says we should still expect dovish forecasts from the FOMC tomorrow morning.
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A Better Democracy
Is Australia’s hung parliament a sign that our process of democracy is flawed, or is it part of a process of change that will see the end of two-party politics?
