EU Fiddles Whilst Equities Rise
Thursday 9th April 2020 There’s more optimism today that countries are reaching the peak of COVID-19, which is pushing US equities higher. NAB’s Gavin Friend says it’s another day where the curve is driving markets. Yet many countries are still reporting record fatalities, the WTO is suggesting world trade could fall by 32 percent. After 16 hours EU finance ministers failed to reach agreement on how to fund stimulus measures within Europe and the EU chief scientist, Mauro Ferrari, quit saying he was extremely disappointed by the EU’s response to the pandemic. Oil prices are rising in the hope that OPEC+ will reach a solution to oversupply, but will Russia insist the US is part of any cuts and, if so, will President Trump play ball. And Joe Biden looks set to be the Democrats nominee for this year’s Presidential elections.