Friday 18th December 2020
The post-Brexit trade deal and the US fiscal stimulus deal have been pushed back time and time again, but we really are at the point of no return. NAB’s Gavin Friend says there will be a deal in both instances, and the markets are priced accordingly. The US fiscal stimulus deal might mean politicians meet over the weekend, whilst UK MPs, already on their Christmas break, could be pulled back after their roast turkeys to sign off on their deal. Central banks have been squeezing in their final meetings of the year – the Bank of England unsurprisingly pessimistic, but the Swiss National Bank and the Norges Bank, both more upbeat. There’s also discussion on yesterday’s unemployment numbers for Australia, and the mid-year budget update yesterday.