Russian roulette
Wednesday 12th August 2020 Markets in Europe seem to have been encouraged by the news that Russia is to start vaccinated key workers in the next few weeks, although, as NAB’s Rodrigo Catril explains, there are concerns about the efficacy of Russia’s solution to the virus. Still, strong confidence in Germany’s ZEW survey shows the region is bouncing back, although te UK’s employment numbers were concerning and today’s GDP read is expected to show a massive fall (-20.7% expected) in Q2. On today’s podcast we also discuss yesterday’s NAB Business Survey, the Auckland lockdown, the RBNZ Monetary Policy Statement and US CPI later today.