NAB – The Morning Call · Optimism, despite block trades and blocked trade

Block trades and blocked trade

Monday 29th March 2021

There was quite a bit of optimism in the air on Friday as we career towards the end of the month and the end of the quarter this week. NAB’s David de Garis says this could account for some of the volatility we saw at the end of the week, with Goldman Sachs selling off $10.5 billion in stocks. Nonetheless, shares were up after a late in the session rally, which carried through to Asia. So, could there be more volatility in this shortened week? There will be a lot of attention on jobs numbers (in Australia and the US), whilst the blockage in the Suez will cause supply concerns. An attempt late Sunday to float the stranded vessel failed and now it seems the only way forward is to start removing containers, which will take time.

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