Bewildered

Published on 07-07-2020 14:50:00

Stocks are still climbing in China, but there’s bewilderment in Europe, with markets hit by a warning that the impact of COVID-19 will be even worse than feared.

Rishi is planning a summer green voucher giveaway amid think tank estimates that saving a million UK jobs will require a £200bn stimulus package. Jobs are being cut by the Daily Mirror’s owner, while banks are ditching London offices and not just because of COVID-19. We’re also feeling baffled at how the ONS could have got measuring so wrong. Some of the stocks in our Short Monitor could be forgiven for feeling unloved and perplexed.

In Europe, German minds are focused on industrial production, while Italy has signed off on the ’mother of all reforms’. But US mobile payments company Square is now bigger than some major banks and it’s hard to believe that nearly half of Americans don’t have a job.

Apple is at a new high, while Amazon analysts can’t keep up as the shares eclipse $3,000. Parents are paying $50,000 for prep schools that their kids might never attend. But Fauci says that even vaccines will only offer finite protection from COVID-19.

Melbourne is flummoxed, following Leicester into a second lockdown, Brazil’s puzzling president is getting tested for COVID-19 again and it’s also disorienting to learn that going out without a mask might become as taboo as drink driving. Counselling is even being given for survivor’s guilt.

In Asia Pacific, there’s bemusement as TikTok pulls out of Hong Kong and, amid China’s new boom, it’s also confusing that only one major Asia Pacific index actually notched up gains in the first half of 2020. So where can we look for solid reality?

Moldova is shutting down a bootleg helicopter factory, while China is using satellites to uncover some fishy business. And we may find out exactly what a ghost kitchen is.

Until tomorrow,

The Stream Team

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