Market Update - April 2021
Welcome to the April edition of the Market Update.
The vaccine rollout and vast sums of fiscal and monetary support are helping to accelerate economic growth and restore confidence.
Global trade was disrupted when a giant container ship became lodged in the Suez Canal; Lloyd’s List estimated the loss of trade at around US$400 million per hour.
European leaders are contending with a rise in coronavirus cases, forcing another round of temporary lockdowns to combat the spread of new variants.
The Australian government announced that the AstraZeneca vaccine is not recommended for people under 50 following reports of ‘very rare’ blood clots.
The RBA left the cash rate on hold at 0.1% at its April meeting and reiterated its commitment to the 3-year bond yield target.