- UK reopening steps up
- Markets are subdued with Chinese data miss weighing on sentiment
- Musk's mutterings hit bitcoin, again
Reopening day in Britain – today is a big step forward for the economy, not so big for the stock market. Markets move well in advance, of course. Reopening trades have performed well this year, but the real test comes as the reopening process proceeds – do people get out and spend, do they take on more debt and do banks lend more? These are questions for policymakers, but also for investors.
After a very choppy week, global stock markets were up on Friday, apparently surviving the big test of the previous few sessions. European stock markets are a tad weaker in early trade, whilst US futures indicate a slightly soft open on Wall Street, with the S&P 500 currently seen opening about 10pts off Friday’s close. Vixx trades higher in the 21-22 range this morning, which could indicate stress for equity markets.