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D-PIMS Weekly Market Update - Week of 28th December 2020 to 3rd January 2021

Today’s Monday Update:

Over the course of last week, most headlines were related to the Coronavirus or Brexit:

• On Monday, ambassadors of European Union governments in Brussels, approved the provisional application from 1st January 2021 of the EU-Britain trade deal struck the previous week.

Most British businesses have made preparations for the end of the Brexit transition period, cabinet office minister Michael Gove said on Monday, adding it was important they were ready for changes to trading and regulatory rules.

British regulatory approval of a COVID-19 vaccine candidate developed by Oxford University and AstraZeneca could accelerate the lifting of COVID-19 restrictions, cabinet office minister Michael Gove said on Monday. “If we do get the authorization for that vaccine, and the rollout goes according to plan, then we will be able to progressively lift some of the restrictions, which have made life so difficult for so many,” he told Sky News.

• Britain’s government needs to bring in tighter coronavirus lockdown rules to avert a fresh wave of deaths from a new strain of the disease, a leading epidemiologist and government advisor warned on Tuesday. “We are entering a very dangerous new phase of the pandemic, and we’re going to need decisive early national action to prevent a catastrophe in January and February,” said Andrew Hayward, professor of infectious disease epidemiology at University College London.

• Britain on Wednesday became the first country in the world to approve the coronavirus vaccine developed by Oxford University and AstraZeneca. “The NHS will be able to deliver these shots into people’s arms at the speed at which it can be manufactured,” Health Secretary Matt Hancock told Sky News. “I am also now, with this approval this morning, highly confident that we can get enough vulnerable people vaccinated by the spring that we can now see our route out of this pandemic.”

British lawmakers approved Prime Minister Boris Johnson’s post-Brexit trade deal with the European Union on Wednesday, as both sides looked to begin a new chapter of relations just days before their divorce became a reality.

• Sterling extended gains on Thursday, rising as much as 0.6% versus the euro after news that trading platforms in the European Union can be used by UK market participants for up to three more months to avoid disruption to swaps trading. Britain’s markets watchdog said on Thursday UK market participants could use EU platforms to trade swaps for up to three months to avoid potential disruption in markets. The move means that some swaps trading is likely to leave the City of London for EU platforms from the next Monday.

Britain’s armed forces could administer 100,000 doses of COVID-19 vaccine a day if required, helping immunise millions of vulnerable people before the spring, Defence Secretary Ben Wallace said on Thursday.

Britain said on Thursday its decision to suspend retaliatory tariffs against the United States was already bearing fruit, after it was spared in a new round of U.S. tariff increases which hit French and German produce.

• Moments after Britain completed its divorce with the European Union, the first trucks hauling goods across the new customs border presented their clearance documents to French agents before loading onto a train to pass through the Eurotunnel. Yann Leriche, chief executive of Getlink which operates the Eurotunnel, told Reuters tweaks to customs procedures might be necessary but that there would be no chaos in the weeks ahead.

India has approved the COVID-19 vaccine developed by AstraZeneca and Oxford University, paving the way for a huge immunisation campaign in the world’s second most populous country.

• Over the shortened week, the main Global Stockmarkets were mixed, with the Far Eastern Markets being the main risers. The investment D-PIMS Portfolios were a little up over the week. They were helped by their diverse asset allocation.

 

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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