Waiting, waiting, waiting on stimulus news
Wednesday 11th March 2020 Markets have bounced back a little today, even though the battle over oil seems to be getting worse. On today’s Morning Call podcast NAB’s Tapas Strickland says the market recovery has been driven by hope of a stimulus package from the White House, together with President Xi’s visit to Wuhan, taken as a sign that the virus is under control and China is getting back to business. Phil Dobbie asks, if governments are slow to respond with appropriate stimulus measures, could we see another collapse in market sentiment? The first test could be the UK budget tonight, but the markets will be also wanting the White House to get measures through Congress.