In the April 2021 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.
Read the April 2021 Market Update here.