This week @profstevekeen explains why a revolution never really happened in the way Marx prescribed, but how it could when workers fight for their part of a shrinking global economy.
Friday 30th July 2021
Markets have had a chance to absorb the dovish sentiment from the Fed yesterday and take stock of mixed data overnight. On the surface US GDP numbers looked weaker than anticipated, but a chunk of that was influenced by lower inventory and trade numbers. NAB’s Gavin Friend explains how consumption and investment was actually much higher than anticipated. He says we can expect a strong GDP read for the Euro are later today, where vaccine levels are picking up. Markets have also been soothed from conciliatory messages from China regarding overseas investors. The Aussie dollar showed slower growth on the back of a weaker US dollar, as the question remains, how long will the Sydney lockdown really last?
Major earnings results could help give equity markets more strength, but, on today’s podcast, NAB’s Rodrigo China’s regulatory uncertainty and slowing recovery rates are adding caution. All eyes will be on the Fed’s response later in the week.
A continuation in the bond recovery as investor put aside COVID concerns, helped strong earnings results, says NAB’s Gavin Friend on today’s podcast.
Prices rising because of supply chain disruption, rising fuel costs, less truck drivers and soon, higher taxes. The BoE response - raise rates? In the words of McEnroe, they cannot be serious! https://t.co/4N14w9o1dJ