S&W The Pulse

In this episode we discuss how COVID-19 continues to drive market risk.There has been a pick-up in new Covid-19 cases across Europe - and with it, the prospect of another round of national lockdowns. This poses a major risk to markets, but it is not the only potential source of volatility. The Brexit deadline is looming, with just a few weeks to reach a Free Trade Agreement ahead of the European Council meeting. If an agreement is not forthcoming, it could lead to significant turmoil in financial and currency markets.Then there is the US election, which has been more contentious than most. Biden is still ahead in the polls, but Donald Trump has made it clear he won’t go quietly. History suggests that a disputed election may upset stockmarkets.[0.28] We’ve seen a pick up in new Covid-19 cases across Europe - and with it, the prospect of another round of national lockdowns. Is this a major risk to markets – and are there any other risks we should be thinking about?Yes, we see the risk of more lockdowns as the m