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INDIA

Indian Issuance Plan Looms

SCHATZ TECHS

(Z1) Trend Conditions Remains Bearish

BOBL TECHS

(Z1) Needle Still Points South

BUND TECHS

(Z1) Bear Trend Sequence Intact

OIL

WTI Topples $75/bbl Handle

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Q: Could you elaborate on what you meant by less economic implications from each successive wave of Covid?

  • A: In the summer wave of COVID last year, in largely southern and western states, the economy performed much better. We were coming off the spring wave where were a lot of shutdowns and many expected it would have an impact on the economy - and it was much less than people thought.
  • Many people are vaccinated, they're going on with their lives., we've kind of learned to live with it. A lot of industries improvised their way around it. So that can all -- it seems like we've learned to handle this. I think people would like to get back to the way things were, and I hope to some extent we will over time.
  • The big wave we had last winter did have significant employment effects, particularly in hospitality and leisure etc.
  • With delta, we're going to have to watch. With a reasonably high percentage of the country vaccinated and the vaccine apparently being effective, a good estimate would be the effects will probably be less, probably won't be significant lockdowns.