Look out for the cloud in the silver lining
Tuesday 7th July 2020 Ray Attrill turns a proverb inside out in this morning’s podcast. Everyone is seeing the silver lining, but clouds could be forming. The markets are in buoyant mood right now, as data suggests economies are recovering from the worst of the impacts of COVID-19. The non-manufacturing ISM for the US is the latest demonstration of the rebound. And the cloud? COVID cases are rising. In Australia Victoria has just seen its highest number of new infections so far, and lock downs will have an economic impact. So, what stance will the RBA take today? Will they see that hey have to do more, particularly as the government starts to wind back its own stimulus measures. Then there’s China. What will be the next move from President Trump?