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Week Ahead (2/3)

UK
  • In terms of the government response to the rise in Covid-19 cases, the Chief Medical Officer Prof Chris Witty and Chief Scientific Advisor Sir Patrick Vallance will give a televised address to the nation at 11:00BST. The BBC reports that Prof Witty is expected to say "We are looking at the data to see how to manage the spread of the virus ahead of a very challenging winter period." With the economy still far from fully recovering, any new measures in order to contain the virus will be closely scrutinised by markets. This follows on from the official recognition from Prime Minister Boris Johnson that the UK is "now seeing a second wave". Note that the FT report that Chancellor Rishi Sunak will extend the Treasury's business support loans programme.
  • On the data front, the flash PMIs on Wednesday will be closely watched for any deterioration in sentiment from the increase in number of Covid-19 cases across the UK. We will receive an update on the state of the public finances on Thursday, with data for August released. CBI industrial trends and reported sales are both due for release this week, as is the GfK consumer confidence measure.

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