Wake Up Call: Markets in retreat

Extreme price swings in cryptocurrency pricing, with Bitcoin plunging by 31% before recovering by 33%, have also unsettled investors.

Staff reporters

Thu, 20 May 2021

Summary It’s all about the budget today, with Grant Robertson at pains to dampen expectations of a big spend up. Expect a focus on child wellbeing, climate change mitigation and housing. Meanwhile, markets around the world are in retreat, with investors withdrawing from riskier assets as economic rebounds from the pandemic disappoint.Fourth budget revealed The finance minister reveals his fourth budget today, with pre-budget speeches emphasising a budget of “balance”, “recovery” and “compassion”. In con...

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