Bad news abounds, but markets are positive
Friday 24th April 2020 In today’s podcast Phil Dobbie asks NAB’s David de Garis, ‘what’s going on?’ US unemployment registrations have added another 4.4 million, European PMIs hit record lows and the EU failed to reach an agreement on how to fund a recovery package for Europe. Despite this, oil prices have rebounded, and the US stock market is trading at levels we were seeing early last year, when the idea of the economy taking such a global hit was unthinkable. There’s still only one question that remains, of course – when will it end?