Good morning, it's Paul here with the SCVR for Tuesday.

Estimated timings today - I've started early, so the bulk of the report should be published by 1pm official finish time. Update at 14:46 - today's report is now finished.

Edit: somehow I missed this earlier, but it's important so here we are;



I've been forced out of my index shorts again over the weekend, with a thumping loss. I might leave that alone for a while. Still, I suppose when you make a loss on a hedge, that means it's worked. That's what I'm trying to convince myself of anyway! I wonder if, with the re-opening trade now gaining momentum, maybe people might be tempted to bank profits on their over-priced tech shares? (see interesting discussion in comments section below).

Judging by how busy Bournemouth beach was over the sunny long weekend, it looks as if the public is tiring of lockdown. That could have nice read across for when (some) retailers re-open shortly, and for the hospitality sector next (from July). Some people seem gung-ho about being able to shop & eat out again (I definitely am), whereas others remain cautious. We don't know the split. Opinion polls are useless, because in a situation like this, I think people give an answer that they think they should say, which can be very different from what they subsequently actually do! I'm very interested in what attitudes readers are experiencing in your network of family/friends/colleagues?

It will be fascinating to see how it all pans out. I'm not convinced that enough people would head for the shops & restaurants again to make them financially viable, at least in the short term, and if there are social distancing restrictions (which takes all the enjoyment out of shopping or dining out). If revenues are down say 30%+, then hardly anything on the High Street would make any profits. Leaving sites mothballed & staff on furlough could work out cheaper, particularly for sites which were marginal in the good times. Hence I reckon we might see a tentative re-opening by some retailers, of only their best sites to begin with. That…

Unlock this Article with a 14 day free trial

or Unlock with your email

Already have an account?
Login here