Thursday, 13 Aug 2020 04:20 PM MYT
Markets were bearish in early trading, with European stocks down and the dollar weaker as investors started to lose hope that the US government would agree on a stimulus deal to support the economy and the millions of workers who have lost their jobs. “In reality, most market participants had been pencilling in a decline in Q2 GDP of ‘around’ 20 per cent for some time now so yesterday’s release from the ONS didn’t come as too much of a surprise even if the magnitude of the contraction dwarfs anything any of us have experienced before,” RBC strategists wrote to clients.
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