Archives of “November 27, 2020” day

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JPMorgan’s S&P target is 4500 (year-end 2021)

  
Analysis, US Market

A quickie from a JPM note on the US equities.

Looking for much greater gains, citing:
  • Expectations of many key risks subsiding (e.g. U.S. elections, pandemic and vaccine news, etc.) clearing the path to a more positive forward outlook”
  • While there has been some upward pressure on rates, central bank policy continues to be accommodative and a major pillar of support for equity multiples. 
JPM are wary on a rise in yields though, saying a 1.5% 10-yr UST yield would make them less comfortable on US stocks.

80 ships and counting – Australian coal ships refused entry to China ports

  
  Analysis

This has been simmering away for more than a month:

  • (from October 12) China is to ban imports of Australian coal
The local press here in Australia now report the number of ships loaded with Australian coal sitting off ports in China is 80 or more.
Prime Minister Scott Morrison spoke yesterday on relations with China:
  • “We just work the process through with the Chinese government to get the best possible outcome that we can” 
  • “These are not easy issues … it’s incredibly complicated what we’re dealing with here.” 
 
 Morrison and his lump of coal in parliament.
This has been simmering away for more than a month: 

Trump says COVID-19 vaccine delivery to begin next week

  
Analysis, COVID-19

Treat what this guy says with a large grain of salt.

Says a coronavirus vaccine will be initially sent to front-line workers, medical personnel and seniors.

More:
  • will be going to US state of Georgia, possibly on Saturday (intending to campaign for the Republican candidates in the Senate run-off election)
  • Trump says  “its going to be a very hard thing to concede because we know there was massive fraud”
  •  says if the Electoral College votes for Biden it would be a mistake, but says he will leave the White House if it does … “Certainly I will”
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