Wednesday 30th September 2020
Despite a big jump in confidence in the Conference Board numbers for the US, there’s not much optimism in the markets today. NAB’s David de Garis says, as the virus refuses to settle down, the lack of a fiscal stimulus deal – the so-called Heroes Act – will be playing on markets (hence the title of today’s podcast, a homage to the 1970’s punk band The Stranglers). There’s also the pre-debate nerves, with Trump and Biden battling it out in the next few hours. Oil has taken a hit today, again because of COVID concerns and the realisation that demand will be slow to pick up. Today, China’s PMI numbers and RBA credit numbers will be of interest to Aussie investors.