Jurrien Timmer, Fidelity’s Director of Global Macro, shares his thoughts on what’s moving the markets around the world, to help you be better prepared for what may be next. Today, Jurrien looks at U.S. jobless numbers, noting that jobless claims moved to the six millions at the start of the pandemic. It’s back down to around seven hundred thousand now, but it’s still not at pre-COVID levels. Jobless numbers and stimulus are connected, and Jurrien believes that the Fed is correct in its messaging about keeping interest rates low. Jurrien also comments on emerging markets, inflation, and the rotation towards value. Jurrien notes that a barbell strategy between value and growth is common. Follow along with Jurrien’s charts @TimmerFidelity on Twitter.

Recorded on April 5, 2021.