Good afternoon
good to see that Trump gets it now, as he says! Iam sure that thisis the reason why he is being driven around in a car…I guess his driver and the other person must be immun! But more and more people around him are catching the virus….or do invesstors lile, that Biden´s lead is rising in the polls? Not sure….
Anyway…
The market likes it, that he does not seem to want to go away anytime soon!
Equities are stronger across the board. Metals are not doing much today ( copper is down and nickel is up ), but gold is up by 15$ to 1915 US$ - following on from some weakness in Asia this morning, as the US$ is under pressure today. It cannot help it´s course, that it seems difficult for the US to organize a proper election process, which would be accepted by everybody involved!! I think we have had a similar problem in Moldavia recently….
The German consumer is still positive, while PMI´s are quite strong. The rest of Europe is not looking that strong…US PMI´s are also looking pretty good.
Australia is preparing a pretty expanionary budget, including tax cuts dated back to the 30th of June, and tax payments only starting with income of 47.000 A$ p.a. All a bit strange to me - Australia is almost corona-free these days, yet even interstate travel is largely forbidden, still!
I fear nothing to report from the micro-side!
Have a good evening
WS