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Weekly Broker Wrap: Budget 2021 broadly equity market friendly, BNPLs US eclipse, online moderating, Mining & Infrastructure run-up
-Absence of fiscal (budget) repair may put upward pressure on interest rates
-Average US BNPL company growing over 10% quarter-on-quarter
-Mining & Infrastructure Services companies have 2-3 years to reach peak
-Consensus Data revenue for mining services forecast to increase 17% by FY23
By Mark Story
Budget: Good for growth and good for jobs
Given that it includes ample near-term stimulus, no tax hikes and plenty of medium-term spending initiatives, Wilsons suspects the government has clearly framed the Budget 2021 with an eye to the next election.
What may have potentially influenced the scope and timing of further stimulus, adds Morgan Stanley, is the government s negative position in recent election polling. The broker also notes marginal seat skew makes NSW and Victoria a likely focus for Opposition policies. ....

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