From Transitory to Tapering

As we head into the second half of the year, the delta Covid variant is causing consternation in markets with recent flair ups in Asia and here at home a stark reminder that we are not out of the pandemic woods just yet. Market participants are also keenly awaiting the fed Minutes later today. Minutes of the Fed's June policy meeting due later on Wednesday might show how serious members were about tapering their asset buying and how early hikes could begin. Oil has come off overnight but the market is still skittish following tensions inside OPEC +, brent is up 44% year to date as seaborne coal prices also soar. And in company news, Jeff Bezos is feeling post-Prime Day nostalgia. Amazon's founder has officially stepped down as CEO after 27 years at the helm. Michael Avery talks to Chris Holdsworth, chief investment strategist at Investec Wealth and Investment about what the animal spirits might be trying to tell us