Everything is opening up again but Boris is warning people not to overdo it and UK markets are trading down. While passengers returning from Germany, Spain and France will no longer have to self-isolate for 14 days, the US is on the red list – and Boris’s dad won’t be exempt when he comes back from Greece. So we’re suspending our disbelief. We don’t believe Super Saturday will amount to much, but we’re happy to feel the surge of excitement we’ve so missed for so long. The NHS will get its biggest clap on its 72nd birthday. However, nobody is getting carried away. Land Securities is only collecting 60% of its rents, Rank reports that casino revenues were 40% lower when on-site gambling was allowed again in Spain and few are expecting the Brexit negotiations to end well, despite hopeful reports. At least sport is demonstrating that empty stadia are reversing the home team advantage.
Elsewhere, the US will have its 4 July barbecues after yesterday’s jobs euphoria, but gun sales are at record levels amid worries about COVID 19 and racial violence. Something else that’s hard to believe but true is that the Nasdaq 100 is headed for its best annual gain for two decades. Even rotting teeth might become a thing of the past. Mark Zuckerberg is confident that the advertising boycott of Facebook is about to end. In Asia, Chinese services firms have posted their strongest growth in a decade and a new hotel is opening in Vietnam with gold-plated pizzazz.
There is strong demand for Edison’s webinar on investment trusts and COVID 19, though there’s still time to sign up. Australia’s new $10m golden wattle trade logo apparently looks like the coronavirus. Hong Kong activists are planning a parliament in exile and sparrows are changing their song; could they know something we don’t? France has ousted its prime minister. Japan is about to blow big. Warren Buffett’s Berkshire Hathaway may have been snookered in Germany. If you are finding all this too hard to believe, don’t worry, everyone else does too. Even the author of the Da Vinci Code is finding that the plot may have one last fiendish twist.
Until next week,
The Stream Team.