News

Global markets were mixed on Friday amid a renewal of uncertainty over how quickly US states can emerge from lockdowns after data showed record levels of COVID-19 in Florida and Arizona.

A new flood of liquidity in the form of fiscal and economic stimulus saw financials and the technology sector benefit the most, with all sectors trading higher.

Data released by the US Commerce Department showed retail sales jumped by a record +17.7% in May, blowing past the 8% increase analysts expected.

ews of spiking covid-19 cases across the Southern US states and parts of the world including Beijing put a damper on the speed of the apparent economic recovery priced into the market.

There are growing risks in some Southern Republican stronghold states, which have moved early in terms of relaxing restrictions.

While global markets snapped back sharply last week on profit-taking, NZ and Australasian markets did not sell-off as hard. We continue to believe Australasia provides a relative safe-haven, primarily given how well both countries have controlled covid-19

Interestingly, nearly 300 stocks in the S&P 500 index are now trading at prices that exceed their consensus analyst 12-month price targets, and we think that markets are pricing in a “near perfect” recovery, and not much downside risk at the current junct

Global markets were choppy overnight, ending lower (with the US market S&P 500 Index -0.5%) after the US Federal Reserve released its latest policy statement.

Global markets plunged overnight, with the US market (S&P 500 Index -5.9%) suffering its biggest one-day pull-back in three months. There is also likely some profit taking given the recent rally. This was very evident in a sharp reversal of sectors which