From my remote location in Ocean Grove (next to Asbury Park of Bruce Springstein fame), I joined Martin Soong and Sri Jegarajah for a brief interview as the Asia session was about to begin the new week. A three-minute clip of the interview can be found here. I suggest that there are two main drivers of the markets now. There is the fear of the new surge in Covid cases and the economic implications, on the one hand, which discourages risk-taking. On the other hand, the vast sums of liquidity from central banks and support from governments encourage risk-taking. I suspect that the Covid story, coupled with quarter-end pressures, keeps consolidative/corrective forces intact for the time being, but the liquidity story should regain the upper end shortly. This
Marc Chandler considers the following as important: $CNY, Cool Video, GBP, USD
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