Wednesday 5th August 2020

Treasury bond yields are reaching new lows, which has heightened the appetite for gold, with Comex finally remaining above the $2,000/ounce mark. NAB’s Tapas Strickland says there’s uncertainty in equity markets, driven by the continuing stand-off over the next phase of fiscal stimulus for the unemployed in the US, a number which shows signs of rising. Unemployment could reach 10 percent in Australia, according to the baseline forecast from the RBA – we’ll get the details on Friday. There’s a round of PMI releases later on – Tapas talks through them.