Daily Commentary BY THE CURVE TEAM –

Global Events Capture Market Focus

29th of August, 2017

With a lack of developments domestically, our focus continues to be offshore with a number of interesting events continuing to cause a stir in the market.

Hurricane Harvey has caught the eyes of markets over the start of this week as what has been described as the worst storm to hit the US since Katrina continues to cause damage over Texas. Oil and Gasoline markets have been hit hard. Current estimates for the rebuild are already ranging between $30-100bn.

We will have to wait for the storm to subside before an accurate assessment can be made. It is yet another uncertainty that could disrupt the Debt-Ceiling debate that is currently going on in Congress.

Breaking news this morning saw North Korea thrust back into the spotlight. It has been reported that a missile has been fired over Japan. Volatility in the market has spiked whilst S&P Futures have dropped nearly a percent amid fears of geopolitical tensions resurfacing.

Domestically the weekly consumer confidence survey is due today with growing disparity between business and consumer sentiment likely to remain the focus.

Oliver Parsons

Client Relationship Officer