Market Updates.

Although the polls and news reports over recent weeks have suggested that it was Joe Biden’s (a Democrat) election to lose, we have warned that the US Presidential election was likely to be tight (simply because, as with voting Conservative or for Brexit in the UK, there are potentially lots of Americans that don’t want to admit to voting for Donald Trump) and as a consequence could potentially be contested and decided in the courts.

It has been a brutal week so far for global equity markets as the tug-of-war contest has seen the winning marker move decisively away from the side with the healthy company earnings (profitability) announcements…

Unfortunately there is nothing new to write home about so far this week, as the key theme impacting global equity markets is a familiar one: coronavirus negativity is dominating sentiment as global daily new inflection numbers continue to rise, and as a result, lockdown restrictions are being imposed across Europe.

Although this week’s US Presidential debate between Donald Trump and Joe Biden has been cancelled, it hasn’t stopped the ongoing stimulus shenanigans and rapidly approaching election from continuing to be a large influence on global equity markets.

Global equity markets got off to a positive start this week after Donald Trump was able to return to the White House, coupled with the growing prospects of an undisputed election result.

After last week’s declines in global equity markets due to indiscriminate selling, it is no surprise to us that equity markets have started to bounce back slightly this week, despite Tuesday’s US Presidential debate between Donald Trump and Joe Biden.

The end of our summer unfortunately coincided with a sharp fall in global equity markets.

Global equity markets have got off to a reasonable start this week, helped by news that AstraZeneca had resumed UK clinical trials of its coronavirus vaccine

There has been a universal picture of doom and gloom across the media so far this week, thanks to UK/EU political posturing over Brexit; concerns over the end of the government’s Job Retention (furlough) Scheme; the resurgence in coronavirus cases (and associated localised restrictions); and continued weakness in US equity markets.

Markets were relatively tepid yesterday, closing the day largely mixed. We saw the first ‘virtual’ Jackson Hole symposium open yesterday, an annual event hosted by the Kansas City Federal Reserve Bank that focuses on discussing key economic events.