The Day Today 19th July 2021

  • Fed Kashkari said in an NPR interview; “The US economy went through a very abrupt shutdown…now it’s going through a reopening, and you’re seeing many sectors of the economy struggle…I’m not seeing any evidence yet that we’re going to have sustained high inflation”.
  • US Surgeon General concerned Covid-19 “misinformation is still spreading like wildfire”; “this is becoming a pandemic of the unvaccinated”.
  • Covid vaccine may be losing efficacy in older people, say researchers in Israel.
  • Boris Johnson and Rishi Sunak are now isolating; restrictions are lifted in England today but the PM urged the public “please be cautious”.
  • OPEC+ reached a deal to gradually increase oil supplies (400,000 bpd added monthly) and give UAE and others higher baselines.
  • Australia’s Victoria state will extend lockdown.
  • Indonesia has the world’s highest daily Covid death toll with 1,093 fatalities through midday Sunday, hospitals are overwhelmed, lockdown due to end tomorrow may be extended.
  • Ocado fire at fulfilment centre on Friday means thousands of orders cancelled, it happened after three robots collided.

The S&P 500 closed down 0.8% on Friday and Asian markets also dropped this morning, seems virus outbreaks and inflation worries took their toll.

The Week That Will Be

  1. BOE
    MPC members are now falling over themselves to make speeches…

The Economist: Finance and economics articles summarised
Fintech
Funds are flowing into fintech at an astonishing pace, see chart below. They are now…

On this day in 1983 the first three dimensional reconstruction of a human head via Computed Tomography (CT) was published.

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