News

The dispute between NZR and ZEL moved up a notch yesterday.

We are constructive heading into 2021 given the backdrop of cheap money and an economic recovery boom. However, we remain cognizant of risks such as issues with vaccines, higher inflation/interest rates, and central bank / government policy missteps.

The US FDA formally approved emergency use authorisation for Pfizer and BioNtech’s Covid-19 vaccine over the weekend. 

NZ Cabinet has agreed in-principle to establishing a travel bubble with Australia within the first three months of 2021. The arrangement will depend on there being “no significant change” in the Covid-19 situation in both countries, and the bubble getting

Global markets continued to rally on Friday (S&P 500 index +0.9%) with major US market indices hitting all-time highs and small-cap stocks outperformed.

A rally in cyclical stocks that has propelled global benchmarks to record highs in recent weeks lost momentum on Monday, but the Nasdaq hit another high as big tech stole the show.

A key sentiment indicator for US stocks has reached its most bullish level in two decades.

US stocks slipped from an all-time high on concern over dimming prospects for fresh stimulus amid resurgent coronavirus cases.

The big stock news in the US was the listing of Airbnb, which surged 115% from its $68 per share IPO price.