Reflation reigns for now
Tuesday 27th April 2021Equities are on the rise again as risk sentiment rises following largely positive data, including the PMIs talked about in yesterday\u2019s Morning Call. Data over the last 24 hour shas been a little more subdued, with Germany\u2019s IFO survey pulled down by lower expectations, and the US durable goods orders softer after the cancellation of Boeing aircraft orders. Nonetheless, the mood is generally positive, says NAB\u2019s Gavin Friend, with Europe now getting into gear on vaccination rollouts and most S&P companies I the US have beaten their earnings estimate and copper \u2013 which is tied to the global reflation trade \u2013 is now at a decade high. The stars are aligned, for now, but the situation in developing nations \u2013 and in particularly in India \u2013 are a stark reminder that the problem won\u2019t go away until the disease is tackled everywhere.
Hosted on Acast. See acast.com/privacy for more information.