The Day Today

"The Day Today" - 26th March 2020

  • Senate passes $2trn now back to the House, probably Friday for the vote
  • China’s city of Xianning lifted lockdown but a new test means people cannot actually leave
  • Japan’s GPIF to raise ratio of foreign bonds in portfolio
  • Russia bans all foreign flight except those repatriating Russians
  • ECB opens itself to new court challenges as it will not apply its self-imposed limits on a coronavirus bond
  • Kosovo saw the collapse of their government over coronavirus row
  • Ford cut to junk by S&P Global Ratings

US equity markets saw their first back-to-back equity gains in a month last night in New York.

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"Elevenses" - 25th March 2020

  • Germany’s Finance Minister tries to get the relief package through urging “there is no blueprint for countering such a crisis”
  • Lagarde asked finance ministers to consider one-off “coronabonds” issue
  • German economy could shrink 20% says Ifo economist,

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"Elevenses" - 24th March 2020

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  • European PMIs lower: Eurozone’s plummeted to 31.4 and UK’s 37.1 from 53.0
  • BOE says “all elements of the substantial capital and liquidity buffers that have been built up by banks could be drawn on”
  • UK’s lockdown not being fully complied with it appears,

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