26 Jun 20 - Bubble Delays | Qantas Mega Cap Raise Global markets were higher overnight in choppy trading (S&P 500 Index +1.1%) as investors weighed the threat to the American economy from a resurgence in coronavirus cases - with record infections in Texas, Florida and California. Meanwhile, health leaders called on the UK to prepare for a possible second wave, and Australia recorded its largest spike in cases since April.  Only banks showed any firm direction, surging almost 2% after US regulators eased rules that will free up capital. Investors also grappled with a mixed batch of economic data, after initial jobless claims topped estimates. Closer to home, yesterday Qantas CEO provided a harsh reality check by suggesting the much hyped Trans-Tasman travel bubble has progressed but access is unlikely until July 2021, much later than commentary from official NZ government sources.    Qantas (QAN:AX) Qantas yesterday ann...