Financial markets have always been prone to react quickly, sometimes intensely, to news flows as they try to price in potential disruption to or support for economic activity.
Beyond the growth in the number of infected and the number of deaths, eyes will be on Eurozone leaders who are holding further discussions on their joint economic policy response to the virus on Tuesday 7 April. The debate will centre on the difference between Italy and Spain’s stance on the subject of a joint bond issuance versus the desire by France and Germany to resurrect the European Stability Mechanism and allow conditions to be placed on countries that use the vehicle.
On Wednesday 8 April, the US Federal Reserve will release the minutes from their unscheduled 15 March meeting and shed light on the discussions that led to lowering the federal funds rate’s target range by 100bps down to 0-0.25%, and increase bond purchases by US$700 billion. The weekly US jobless claims data will be published on Thursday 9 April and, as it is the most real time economic release, we expect another large number!
Finally, financial markets will be closed in a number of countries at the end of the week for Good Friday. Hopefully the long weekend will allow markets to enjoy a break from the constant news flow. Rest assured we remain vigilant and continue to work to ensure portfolios are well-positioned to get through these events.
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Clients of Nedbank Private Wealth can get in touch with their private banker directly to understand how their portfolios are responding to market events, or call +44 (0)1624 645000 to speak to our client services team.
If you would like to find out more about how we manage clients’ investments, please contact us on the same number as above. Or you can get in touch using the links to the forms towards the end of this page.
Investments can go down, as well as up, to the extent that you might get back less than the total you originally invested. Exchange rates also impact the value of your investments. Past performance is no guide to future returns. Any individual investment or security mentioned may be included in clients’ portfolios. They are referred to for information only and are not intended as a recommendation, not least as they may not be suitable. You should always seek professional advice before making any investment decisions.
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