Meteor – Counterparty League Tables: June 2020
The UK has taken another step towards relative normalcy this week with Boris Johnson announcing pubs could reopen at the start of July while spas, theatres and gyms will remain closed. Health leaders have warned, however, that easing lockdown this early risks a second wave. Meanwhile, retail sales for May showed a swift recovery with an increase of 12% as lockdown spending soared. Economists have warned that this figure isn’t as rosy as it seems as the figure is propped up by online spending while consumer spending in hospitality still falters due to lockdown restrictions. Last Thursday, the Bank of England also announced an additional £100 billion in quantitative easing while keeping interest rates at the all-time low of 0.1%.
According to Bloomberg, the United States are considering imposing new tariffs of over $3 billion worth of exports from Europe. Final data for UK Q1 GDP will be published next week.
The FTSE 100 gained 1.24% in seven days. In comparison, the EURO STOXX 50 was up 1.73%, while the S&P 500 only improved by 0.21%.
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