Markets rally ahead of Biden’s spending announcement in Philadelphia. NAB’s Tapas Strickland says we know most of what will be said, and shares are rallying on the hope.
Royal Mail will do well overseas, but what about the domestic business. I ask @StreeterNews. The future is less bright for Deliveroo. Where is the vison in their Prospectus? Plus Bitcoin on Paypal. A game changer?
Today, Rodney Hobson on the FCA’s concerns that too many inexperienced people are gambling on shares. Plus, the massive block trade on Friday and the loss in value of the company behind Andrew Neil’s GB News. And, have we reached peak-China?
Markets are being pulled in two directions says NAB’s Gavin Friend. It’s the prospect of an economic reopening, versus the slow-down in vaccine rollouts in Europe. But Biden has doubled his vaccine target for his first 100 days. Meanwhile, oil rises further as the Suez stays closed.
GDP in Q1 1.5% down on Q4. Hardly surprising given the lockdown. The economy is still 8.7% smaller than just before the pandemic, whereas US GDP is close to where it was, thanks to massive government spending.