by JustForex
On Tuesday and Wednesday, there is a continuation of the rally in the stock markets. The S&P 500 index reached the level of 3200 in the Asian session, while the credit market remained calm. In the absence of an important news background and a slight pullback in oil prices, Treasury yields are stable at 1.60%.
According to investment strategists, a pullback in the stock market can provide tactical opportunities for those who haven’t had time to buy risky assets yet. Growth seems to be gaining momentum. Bykov supports a steady decline in the number of new cases worldwide and an expectation of incentives from the British and US governments.
The British stock market is perhaps the only advanced economy that hasn’t been able to break records. FTSE 100 is stable at the levels of the beginning of January. It is hindered by the growth of the sterling and problems with transport logistics.
The impact of Britain’s exit from the Single European Market isn’t weakening after five weeks of a new trade deal. According to logistic group Transporeon, incoming data show that UK-to-EU freight volumes have dropped by about 25% from a year ago due to increased bureaucracy after Brexit and the impact of the coronavirus pandemic.
The numbers highlight the damage to the UK economy in early 2021 after the worst recession in 30 years. The government says overall cargo flows through the ports are close to normal. The Cabinet of Ministers, chaired by Michael Gove, challenged the Trucking Association’s claims that traffic had plummeted. Despite a last-minute Brexit deal guaranteeing no customs duties on trade with the EU, carriers complain about customs forms and long waiting at the border.
Free Reports:
Main market quotes:
S&P 500 (F) 3,916.75 +11.25 (+0.29%)
Dow Jones 31,375.83 -9.93 (-0.03%)
DAX 13,967.50 -44.30 (-0.32%)
FTSE 100 6,530.13 -1.43 (-0.02%)
USD Index 90.282 -0.136 (-0.15%)
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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