- FTSE 100 hits a post-pandemic high of 7,242 this morning
- BP and Shell top performers
- Bitcoin eyes $60,000 ahead of SEC decision
Doctor doctor… GPs will be paid more to do what they used to do before the pandemic, like seeing patients face to face. This is what dislocation and the ‘new normal’ looks like: same service, costs more. That’s one of the reasons why inflation is not going to be as transitory as central bankers have been telling us.
New highs for the FTSE 100... Markets are not that concerned by this, so it seems. The FTSE 100 has broken out to a new post-pandemic high, stretching its recent range by a few more points on the upside to hit a high of 7,242 this morning. This marks a roughly 400pt reversal from the Sep 20th intraday low. It’s been a very tight range of that size since April but there are encouraging signs the FTSE can yet end the year at its pre-pandemic level of 7,700.