Stocks high on earning hopes; times changing for ECB

Tuesday 13th July 2021US stocks hit new highs as Q2 earnings season kicks off. NAB’s said it also reflects a recovery from Asia emanating from China’s easing of reserve requirements. China will be a focus today, too, with the release of trade data. US CPI is also out today. Could a combination of weaker earnings reports, a fall in trade to and from China and/or a higher-than-expected CPI dampen the mood? The other significant news overnight has been Christine Lagarde’s Bloomberg interview were she spoke about PEPP continuing in some form from 2022. Will we see central banks taking a more dovish stance as COVID numbers continue to raise concern?

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