Barrett Trumps Stimulus on Columbus Day
Tuesday 13th October 2020The US senate is seemingly preoccupied with pushing through Amy Coney Barrett as Supreme Court nominee, casting aside any bandwidth for fiscal stimulus talks. Yet US equities have bounced higher today. NAB\u2019s Ray Attrill says there\u2019s no clear logic for enthusiasm amongst share investors, except for the hopes that a Biden win will see more fiscal stimulus; but it would also mean more regulation for tech companies, and they\u2019ve been leading the charge overnight. Equally as curious, the pound has risen despite rising COVID cases, more lockdown measures and no Brexit progress. It\u2019s perhaps easier to explain the fall in the Aussie and NZ dollars, pulled down with the PBoC\u2019s measures to reduce the value of the Renminbi.
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