Wednesday 27th May 2020

There’s a strong risk-on mood in the markets this morning, with the Aussie and Kiwi dollar showing significant rises against a falling US dollar. Phil Dobbie asks whether news of more easing of lockdowns around the world is offsetting any bad news about tensions between the US and China? They also discuss a UBS report that suggests a second wave of infections is unlikely. Even if it was, a repeat of the mass lockdown the world has seen seems unlikely. All this is helping market sentiment, along with hopes that vaccine research is progressing, with Novavax undertaking human testing in Australia.