A blue wave is still possible, but two months of ‘no’ - a podcast by Phil Dobbie

Monday 9th November 2020

There’s still a chance that in January the Democrats will take control of the Senate. Until then, President Trump is still in charge and the US faces rising COVID cases without a fiscal stimulus. Larry Kudlow suggested that Friday’s non-farm payrolls were so strong there isn’t a need for support but NAB’s Tapas Strickland says high-frequency data suggests the job recovery is slowing. Similarly, China reported a big increase in exports, but can that last if demand for goods is subdued by the continued strength of the pandemic. It’s a quiet week this week, except for the President’s legal challenges on the election result, but markets are not likely to respond to the sideshow. Similarly, there’s no market reaction to Brexit talks, even though the clock is ticking louder now.

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