The Day Today

• Europe prepares to ease lockdowns
• BOE governor, Bailey, writes in FT that they will not use monetary financing to protect economy from coronavirus hit
• Eurozone construction contracted sharply,

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• US Surgeon General says this week will be the “hardest and saddest”
• President Trump said cases were “levelling off” as New York, an epicentre of the US outbreak,

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• Fed eased capital requirements for large banks
• Moody’s changed the outlook for many banking sectors, Singapore, etc
• RBNZ ordered the big four to stop paying dividends
• China buys oil for state reserves
• US says China concealed extent of virus outbreak
• BA to suspend 36 000 staff

Global equity markets sold off heavily in  the fist trading session of Q2.

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• President Trump warned “this is going to be a painful two weeks”, deaths could reach 240 000
• President Trump wants $2trn infrastructure spending as part of “Phase 4” relief package
• UN Sec Gen,

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• China official PMI rose to 52 f/c 44.8 from 35.7
• Japan Industrial Production rose 0.4% vs f/c 0.1%
• Japan Retail Sales rose 1.7% vs f/c -1.2%
• European regulators argue over short selling bans
• President Trump said a nationwide stay-at-home order is “pretty unlikely”
• WHO sees signs of stabilisation in Europe’s virus outbreak

US equity markets closed higher last night.

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