NAB – The Morning Call · One big October surprise

One big October surprise

Monday 5th October 2020

Friday was certainly a gamechanger. The US President went into hospital without a clear picture of his condition. Now, it seems he could be returning to the White House as soon as today. So, do the markets take back some of their risk concerns, and focus on the positives of the situation? That’s a question Phil Dobbie puts to Ray Attrill in today’s Morning Call podcast. One positive could be that Republicans are more prepared to reach a deal on a stimulus package. Friday’s non-farm payrolls in the US on Friday were largely ignored by the markets, but showed a slowing in jobs recovery.  The pound strengthened on Friday on hopes that talks over Brexit will step up, but there’s still a lot of ground to be covered in a very short period of time. And locally, we’re one day away from the next RBA meeting and the budget, but markets are more likely to be eyeing Washington than hanging out for words from Josh Frydenberg.

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