Global Matters Weekly – 8 June 2020

Playing the odds
by Robert White, CFA

While markets continue their remarkable rebound, the most important event for many people this month will be the return of the Premier League, something that cannot come soon enough for loyal fans (particularly Liverpool supporters). The resumption of top flight football provides a welcome distraction during these trying times as the German Bundesliga has already shown, even if the atmosphere is somewhat diminished by empty stadiums. The great thing about professional sport is that so much is captured by data, the quality and depth of which is extremely rich.

Market Snapshot

  • Global equities rallied to post-lockdown highs
  • Big upside surprise in US jobs data
  • Brent crude rallied 19.7% ending the week at $42.3 a barrel
  • Gold fell 2.6% ending the week at $1685.1 an ounce