Decompression

Published on 06-07-2020 13:36:06

Hello,

There were limited signs of it on Super Saturday, despite police warnings, but decompression is driving the market after Chinese blue chips scaled another five-year peak. And our investment strategist, Alistair George, is concerned that equity market investors may have skipped to the final scenes of the pandemic movie.

Rishi Sunak is providing first aid, pumping £800m into job centres, £1.57bn into the arts and tripling traineeships. He might also axe stamp duty for six months.

So who is decompressing too quickly and will get the bends? Boohoo is off 10% after an investigation into low wages at suppliers in locked-down Leicester. There’s retail carnage with 24,000 job cuts in shops and Britain’s universities face possible financial disaster.

Having used Independence Day to attack the radical left, Trump faces a left field threat from Kanye West, though he’s said to be planning to stay in the White House even if he loses the presidential election in November. 

India is delaying reopening the Taj Mahal as it becomes the third most COVID-affected nation. It’s Gen Z who will be most affected by the pandemic and Australia is shutting the New South Wales-Victoria border for the first time in a century. Half the population in the US, Germany and elsewhere may refuse to take a vaccine, while the virus could mean an extra 35,000 deaths from cancer in the UK. There may be bubonic plague in China’s inner Mongolia.

In other pressurised incidents, Israel says it is not necessarily behind Iran’s nuclear site incident. Aviva’s CEO is stepping down due to family health concerns. Lloyds Banking Group’s scuba-diving CEO will follow suit next year.

Still, Africa’s biggest investment is taking shape despite Islamist threats, private equity sees opportunity in Italy’s old football stadia and Elon Musk is mocking short sellers with red satin boxers.

If the atmosphere is making you dizzy, you can learn how to change someone’s mind in 10 steps or dream about new VR headsets that holograms are shrinking to the size of Ray Bans. And if that doesn’t cool you down, NASA wants to build a steam-powered hopping robot ball to explore icy planets.

Until tomorrow,

The Stream Team.

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