The Day Today 21st July 2021

  • Australia June Retail Sales -1.8% vs -0.5% exp as lockdowns bite.
  • Australia’s two largest states see increase in infections.
  • Heaviest rainfall in “1,000 years” hits Zhengzhou in China, city of 12 million.
  • Bipartisan infrastructure bill flounders on IRS funding squabble.
  • Sectors in UK reporting faster growth drop in Lloyds Bank survey.
  • London staff want £5,100 pay rise to return to the office, survey suggests.
  • IFS warns Chancellor can only afford short term Budget giveaway of £30bn as medium term finances remain tight due to scarring in potential growth output of economy.
  • UK Border staff told not to check all traveller paperwork, putting onus on airlines.
  • Netflix adds fewer subscribers than expected in Q2, blames economic reopening and dearth of fresh programming, looks to add gaming.
  • UBS launches portfolio investing only in female-led hedge funds

Asian equity markets were mixed despite the strong bounce back in US equities. Today brings earnings reports from J&J, Verizon and Coca Cola.

The Week That Will Be
The Economist: Finance and economics articles summarised

On this day in 1960 Sirimavo Bandaranaike was sworn in as the Prime Minister of Sri Lanka making her the world’s first female prime minister.

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