Indices: Australian ASX 200
The US S&P500 had basically gone nowhere since April before last week when it again broke out to fresh all-time highs, conversely the ASX drifted last week and is set to test many investors nerves both this morning and through the week.
Today’s report as its name suggests usually focuses on the macro-economic factors driving financial markets both today and into the future, however as Sydney goes into a 2-week full lockdown and the rest of Australia feels in danger of following suit the deteriorating local virus picture looks highly likely to dominate both the end of the this financial year, & the start of FY22 – NSW represents ~30% of Australia’s GDP.
The ASX200 finished a choppy session slightly lower yesterday dragged into the red predominantly by some weakness in the banks and healthcare stocks but considering the escalating Sydney COVID outbreak it was a fairly lacklustre affair.
