Markets take a hit as Trump ditches stimulus talks
Wednesday 7th October 2020There\u2019s been a strong reaction in the equity and currency markets to Donald Trump\u2019s sudden decision to stop talks about a fiscal stimulus, even though he tweeted about the need for it whilst in hospital over the weekend. NAB\u2019s Rodrigo Catril wonders whether he\u2019s serious, or is it a last minute bargaining tactic? It comes after the Fed\u2019s Jerome Powell warned that too little fiscal support would lead America to a weak recovery. All this at a time when Biden seems to be pulling away in the polls. Meanwhile, the RBA and Australia government are more in-tune on the need for stimulus to create and retain jobs, whilst the ECB is sounding more dovish. And Brexit talks \u2013 the reports are mixed. Deadlines are getting pushed back.
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