Friday 12th June 2020

There’s been a swift move to bonds and safe haven currencies since the Fed’s message yesterday that it would take a couple of years at least for life to return to normal. Fears of a second wave of the virus in the US has added to concerns and weekly job numbers in the US suggest there isn’t exactly a rush back to work. The result has been a big drop in global equities. Phil Dobbie asks Ray Attrill how the rally had gone so far, and why Australia, which is relatively COVID-19 free, is suffering more than most. With oil, we’re back to worrying about over-supply and under-demand.