Market Moments – 25 May

QIC's Stuart Simmons, Head of Currency, discusses the latest COVID-19 updates, asset market performances and themes, and domestic and global updates, touching on the deteriorating geopolitical environment, particularly around U.S. and China, having escalated with China introducing national security laws into Hong Kong. Beverley Morris, Director of Fixed Income & Absolute Return, speaks to the Friday announcement where the Treasury discovered the likely amount of employees covered was 3.5 million instead of their initial estimate of 6.5 million due to errors in applications, and further elaborates on the outlook of the job-keeper program. Beverley also provides an update on Australian bonds, noting bond market issuance is going to be lower due to this news, as bonds rallied in Australia on Friday. Andrew Whittaker, the Senior Portfolio Manager of Fixed Income, dives into the prospects for yield curve control, following interesting developments in the policy front in U.S. as they might look to implement macroeconomic based guidance, with reference to yield curve control. Paul Nicholson, the Director of Global Absolute Return & Income Funds provides an update on the ECB, and Franco-German debt deal following €500 billion of grants, where Wolfgang Schäuble has backed this deal stating it is not a mutualisation of the old debt but the new. Richard Garland, the Senior Portfolio Manager & Research Analyst of Global Credit, provides a macro credit update focusing on credit spreads and high yield markets. Stephen Holmes, the Global Credit Income Manager & Senior Research Analyst, talks to China shifting their tactics to stability over growth. Listen to find out more on these topics. Disclaimer: This information is solely for general information purposes. It is not financial product advice or an offer to sell or solicitation of an offer to buy securities or any other investment, investment management or advisory services. In preparing this information, QIC has not taken into account any investor’s objectives, fina