Inept Politicians result in fading risk appetite and a pull back in the AUD


Market Update: 8 December 2020

  • Global policy makers are failing to get deals done. In Europe the BREXIT trade deal hangs in the balance and in the US law makers cannot agree a stimulus deal. Both are vital to the post COVID economic recovery
  • Despite positive Vaccine headlines, COVID is certainly not under control in the US, hospitalisations are currently climbing by 2000 per day!  
  • Given the huge surge in Asset prices, some profit-taking into year-end would not be surprising and this could well yield a dip in the AUD. However, any such dip would be viewed as buying opportunity within the context of our 2021 outlook
Sources: Bloomberg

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