The Day Today

"The Day Today" - 30th March 2020

  • President Trump extends the time frame of social distancing to April 30th
  • US government medical advisor, Dr Anthony Fauci, warns 200 000 Americans could die from the virus
  • Oil falls below $20 to an 18 year low as analysts warn 25% of demand could vanish
  • UK lockdown could last for months with the death toll increasing warns the Deputy Chief Medical Officer for England
  • Australia restricts public gatherings to two people
  • China cut the interest rate on 7-day reverse repo to 2.2% from 2.4%
  • Australia launches job keeper package
  • Singapore eased policy as it lowered the mid-point of its currency band,

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"Elevenses" - 27th March 2020

  • UK PM tests positive for coronavirus
  • US House set to pass the coronavirus bill today
  • Russia calls for new OPEC deal
  • UK PM tests positive for coronavirus
  • Fund rebalancing should buoy equities into quarter end
  • UK University tuition fees may be slashed

US equity futures are all lower as US overtakes China for the most coronavirus cases and European equity markets struggle as European leaders fail to make a decision

Velocity of People can’t be solved by policy
The desire to catch the falling knife remains strong.

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"The Day Today" - 27th March 2020

  • House vote on US coronavirus may not happen today
  • China will block all foreigners from entering the country
  • G20 injects over $5trn into the global economy
  • Fed balance sheet record over $5trn now
  • Hong Kong exports rose after last months plunge
  • China Industrial Profits fall most on record
  • RBI cut interest rates and added liquidity

S&P 500 rose 6% after the $2trn package was passed.

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"Elevenses" - 26th March 2020

  • Fed’s Powell says there’s more in the Fed tank, confidence will return when the virus is under control, “we may well be in recession” on NBC
  • WHO gives blunt warning on government’s actions on the virus “we squandered the first window”
  • US death toll keeps rising with talk the US could end up with the worst outbreak
  • ABN Amro Clearing lost $200m on a single client

Equities miss a step ahead of the Jobless Claims number as most markets and futures ease off.

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