Equity highs, then PMIs
Friday 21st August 2020US equities continue to rise, even though the jobless claims numbers rose last week. Phil Dobbie asks NAB\u2019s Gavin Friend, at what point will they appear to be overvalued? There\u2019s also discussion on bond movements, the continued fall in the Kiwi dollar, even against a weaker US dollar today, and the rise in the pound. There\u2019s lots of PMIs released today \u2013 services and manufacturing for the UK, Germany, the Eurozone and the US \u2013 what will they tell us about the shape of the global recovery?
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