NAB – The Morning Call · Markets turn green on hope of a blue victory

Markets turn green on hope of a blue victory

Tuesday 3rd November 2020

Markets flipped from Friday’s share and bond sell-off, with more optimism a day or two out from what is expected to be a Biden victory. NAB’s Ray Attrill also points to very strong manufacturing numbers published for the US, which will have been an encouraging sign for investors too. Ahead of the US election though, there’s a Melbourne Cup to be won, and a decision to be made by the RBA, which will include rate cuts and more bond buying. Phil Dobbie asks Ray why the RBA needs to be taking such a strong stance when Australia is faring better than most places when it comes to tackling the pandemic.

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