Monday 24th August 2020
Europe’s PMI’s disappointed markets on Friday, whereas the US numbers were better than expected, helping to lift equities to new highs (again). The UK provided mixed news, with string PMIs offset by a week of Brexit negotiations that led nowhere. Donald Trump is pushing out all the stops on a virus and cure for COVID-19, with announcements expected today on one, if not both. NAB’s Ray Attrill talks through all of this, and reports that the take-out from the National Cabinet Meeting on Friday was that States and Territories should do more to fund Australia’s recovery. In the week ahead, the meeting of central bankers at Jackson Hole should provide a steady stream of news and views.