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D-PIMS Weekly Market Update - Week of 26th April to 2nd May 2021

Today’s Weekly Update:

Over the course of the last week, headlines were mostly economic or Coronavirus related:

• Much needed medical supplies poured into India on Tuesday, as overrun hospitals turned away patients due to a shortage of beds and oxygen supplies and a surge of infections pushed the COVID-19 death toll towards 200,000.
A shipment of medical supplies from Britain, including 100 ventilators and 95 oxygen concentrators, arrived in Delhi early on Tuesday, Reuters partner ANI reported.

More than half of Americans approve of President Joe Biden after nearly 100 days on the job, according to Reuters/Ipsos polling out Tuesday. This was a level of support that his Republican predecessor Donald Trump never achieved, and one that should help Democrats push for infrastructure spending and other high cost items on Biden’s agenda. The national opinion poll found that 55% approved of Biden’s performance in office, while 40% disapproved and the rest were not sure.

• The UK government on Wednesday became the first country to announce it will regulate the use of self-driving vehicles at slow speeds on motorways, with the first such cars possibly appearing on public roads as soon as this year. The UK government wants to be at the forefront of rolling out autonomous driving technology, and the transport ministry forecasts by 2035 around 40% of new UK cars could have self-driving capabilities, creating up to 38,000 new skilled jobs.

Britain is working on using the existing NHS Coronavirus app to show that people have received their COVID-19 vaccine for international travel, Transport Secretary Grant Shapps said on Wednesday. "It will be the NHS app that is used for people when they book appointments with the NHS ... to be able to show that you've had a vaccine or that you've had testing, and I'm working internationally with partners across the world, to make sure that that system can be internationally recognised," he said.

The U.S. Federal Reserve on Wednesday, took a rosier view of the U.S. economic recovery and the nation’s war against the Coronavirus, but said it was too early to consider rolling back its emergency support with so many workers still left jobless by the pandemic.

• Figures out Thursday, showed that China became the country to have administered COVID-19 vaccinations to more people than any other, but health authorities will need to accelerate the rollout to meet a target to inoculate 40% of its population by the end of June. China had administered a total of 243.91 million doses as of April 28, surpassing 234.6 million shots the United States has given. But with a population of 1.4 billion people, China has administered just 17.4 doses per 100 people, far behind the 71.1 administered in the United States, which has a population less than a quarter the size.

• Data released on Friday, showed U.S. consumer spending rebounded in March, amid a surge in income as households received additional COVID-19 pandemic relief money from the government, building a strong foundation for a further acceleration in consumption in the second quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 4.2% in March after falling 1.0% in February, the Commerce Department said. Economists polled by Reuters had forecast consumer spending would increase 4.1%.

• Over the week, the main Global Stockmarkets were split, with half up and half down, particularly the Far East. UK Markets were positive. The investment D-PIMS Portfolios were slightly up, apart from Low to Medium Risk, which was dragged marginally lower, by rising Bond yields (falling Bond values). Overall, the Portfolios were helped by their diverse exposure and domestic UK allocations.

 

The value of investments and the income from them can fall as well as rise and you may not get back the original amount you invested.


Past Performance is no guarantee of, or guide to future returns.


The comments made above represent our interpretation of events and market views and are in no way a guarantee of future investment performance.


 

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