Wednesday 21st October 2020
Equities are higher in the US again today. NAB’s Tapas Strickland says it is largely on the back of continued hope that a stimulus deal will be struck. If not now, perhaps after the election, with the possibility that the Democrats also win control of the Senate. There’s also optimism around a vaccine and US housing data bounced back, showing more underlying strength in the US economy. Tapas is asked why US equites continue to significantly outperform those in Europe, Australia and other parts of the world. There’s also talk about the RBA minutes and yesterday’s Australian jobs data, plus the high demand for the EU’s first ’social bonds’.