Daily Commentary BY THE CURVE TEAM –

NSW Remains Weary of Covid

22nd of December, 2020

At least for the next few days NSW and especially Sydney will be monitoring the spread of covid.

Already over one hundred venues have been listed as having been visited by individuals with covid. The vast majority are in Sydney and have varying health advice.

The advice ranges from the extreme of self-isolation for two weeks, to monitor for symptoms. General restrictions have only been modestly adjusted by the NSW government, including the one person per 4 metre square metre being reimposed instead of 2, a 300-person limit on venues and 10 people limit per household gatherings.

Even though these rules still allow people to get out and about, people will be weary of coming into contact with the virus. So people’s psychology as much as the governments rules will impact peoples movement and spending.

Europe have approved the Pfizer vaccine that has already been approved and distributed to the UK, US among other countries. These countries continue to grapple with the limbo of high covid cases and vaccine distribution.

Markets were down last night in Europe and oil prices fell despite the vaccine approval. The US are in a similar limbo with stimulus talks.

For months the Democrats and Republicans have failed to come to an agreement but have supposedly been on the brink. An agreement would provide a short-term boost to economic activity in the US, with household payments at the fore of the stimulus.

Josh Stewart

Associate - Money Markets