In limbo

Published on 10-06-2020 14:40:00

Any distinctive mood is on hold as we spend the day in limbo. Asia has paused for breath and European stocks moved up in early trading, but have been holding below three-month highs. The reason? The Federal Reserve. It’s issuing its first forecasts in six months later today.

Consumers are also biding their time. They’re using the downtime to save for another day – so much so that Goldman Sachs is pausing applications to its savings business, Marcus, due to high demand.

HSBC is walking a geopolitical tightrope as it faces a choice between east and west. Boris is mulling things over as well as he weighs up the costs of a Huawei 5G ban. You can thank his father, however, for stepping in to help save our zoos. And as the ECB wonders what to do with unpaid debt, we’re also waiting for firm news of what a ‘bad bank’ might be.

With asymptomatic transmission of the virus still open to question, the ‘should we, shouldn’t we?’ facemask debate rumbles on. A Cambridge study says we definitely should.

To relieve any boredom, investors continue to make their own fun. They’re gambling on Hertz as well as Nikola Motors. Valued at $26bn, higher than Chrysler, Nikola isn’t expected to generate any sales – let alone profits – until 2021.

Over in the real world some things are moving – house prices, IPOs and universities (although in the wrong direction). Prince Philip edges towards the big 100, but the Hornby Locomotive is already there.

Until next time,
The Stream Team

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