D-PIMS Weekly Market Update - Week of 5th to 11th April 2021
Today’s Monday Update:
Over the course of the shortened Easter holiday week, headlines were mostly economic or Coronavirus related:
• Pubs and restaurants won’t require vaccine certificates when they reopen under the current plans for an exit from lockdown in England, Minister for COVID Vaccine Deployment Nadhim Zahawi said on Tuesday.
European intermediaries began shuttling between Iranian and U.S. officials in Vienna on Tuesday, as they sought to bring both countries back into full compliance with the 2015 nuclear deal that Washington abandoned three years ago.
• Britain began using Moderna’s COVID-19 vaccine on Wednesday in Wales, just as its rollout of other shots fell to their lowest level this year, due to a supply crunch caused by manufacturing problems at AstraZeneca. Already used in the United States and other parts of Europe, it becomes the third vaccine to be used in Britain after AstraZeneca and one from Pfizer-BioNTech.
• Leaders of the U.S. Senate Foreign Relations Committee introduced legislation on Thursday to boost the country’s ability to push back against China’s expanding global influence, by promoting human rights, providing security aid and investing to combat disinformation. The draft measure, titled the “Strategic Competition Act of 2021,” mandates diplomatic and strategic initiatives to counteract Beijing, reflecting hard-line sentiment on dealings with China from both Democrats and Republicans in Congress.
• President Joe Biden and his Attorney General Merrick Garland announced limited measures to tackle gun violence in the United States on Thursday, in what the White House described as a first step to curb mass shootings, community bloodshed and suicides. The new measures include plans for the Justice Department to crack down on self-assembled “ghost guns” and make “stabilizing braces” - which effectively turn pistols into rifles - subject to registration under the National Firearms Act.
• Prince Philip, the Duke of Edinburgh died aged 99, on Friday. The palace said in a statement. “It is with deep sorrow that Her Majesty The Queen announces the death of her beloved husband, His Royal Highness The Prince Philip, Duke of Edinburgh,”
• Over the short week, the main Global Stockmarkets were mixed with some up and some down. The US and UK did the best with Far Eastern Markets performing the worst. The investment D-PIMS Portfolios were all well up over the week, especially the higher risk Portfolios. They were helped by their diverse allocations.
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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.