Bounce back

Today's news headlines: 

‘Covid jabs to go on offer to under-50s in UK’. The UK will now shift its focus to those under 50 in the coronavirus inoculation programme, now that reportedly all over 50’s have been offered the jab. This comes days ahead of the 15th April deadline set by the government. The UK began phase two of the re-opening of the economy yesterday, as non-essential retail opened along with gyms and outside seating areas in pubs. Although vaccine supply issues were the focus at the start of the month, the arrival of the Moderna jab has helped reassure confidence that the country is well on it’s way to meet the deadline of offering a vaccine to all adults by the end of July. (Financial Times)

‘Europe’s direct lending market bounces in final quarter of 2020’. Lending experienced a resurgence at the end of 2020, after the coronavirus pandemic began to loosen its grip on nations. Asset managers were involved in 52% more deals in the latter half of 2020 when compared to the start of the pandemic. As countries such as the UK and US begin to display continued levels of high vaccination and re-opening of their respective economies, it is expected lending will begin to gradually rise throughout the course of 2021. (Financial Times)

Today's events, rates, and data 

  • The FTSE 100 fell 0.39% on Monday, despite the UK beginning its phased re-opening of the economy. Both the S&P 500 and Dow Jones were also mixed, as the US enters earnings season. Currencies look partly flat this morning after Sterling gained 0.23% against the Dollar and 0.21% against the Euro.

Today's events

UK BRC Retail Sales Monitor y/y: 20.3% vs 9.5% last month
China Trade Balance: 88B vs 676B last month
UK GDP m/m: 0.4% vs -2.2% last month
UK Manufacturing Production m/m: 1.3% vs -2.3% last month
US CPI and Core CPI m/m: 1:30pm
US 30-Year Bond Auction: 6:00pm

Interbank rates

GBP/USD: 1.3746
GBP/EUR: 1.1557
EUR/USD: 1.1895
USD/CAD: 1.2578

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