Fed Speeds Up QE Programme
Market movers today Market focus continues to be on COVID-19, policy responses and economic impact. Today we get March PMI data for the US and the euro area, which are likely to show a significant decline. Not least the service...
The Fed Goes Nuclear
The Federal Open Market Committee (FOMC) announced a series of steps this morning designed to support the flow of credit in the U.S. economy. The actions taken are breath-taking in their scope. Indeed, these steps surpass in breadth and depth...
Stocks Slammed As Congress Plays Politics
Global markets tank again amid a cascade of worrying virus developments US fiscal package stuck in the Senate, igniting fears of a severe delay Yen leads FX market, kiwi sags as RBNZ launches QE, dollar resilient Wall Street futures in...
Weekly Economic and Financial Commentary: Shock and Awful
U.S. Review Shock and Awful Daily life came to a screeching halt this week as governments, businesses and consumers took drastic steps to halt the COVID-19 pandemic. Financial markets seized up as it became clear just how much, and for...
COVID-19’s Threat to Canada’s Vulnerable Workers
Measures to stem the spread of COVID-19, while essential to protect the population, have temporarily wiped out demand for services from restaurant meals and entertainment to dental hygiene and child care, taking an immediate heavy toll on Canadian labour markets....
Foreward Guidance: Economic Data to Get Worse (Before It Gets Better)
The rapid ramp-up of containment efforts to combat the spread of COVID-19 in North America has accelerated sharply over the past two weeks. Similar measures in other countries, South Korea and China, for example, appear to be successful at slowing...
The Canadian Dollar Down in LockStep With World Oil Prices
The Canadian dollar (CAD) has come under heavy pressure over the past few weeks in the wake of dramatic economic and financial developments. Investors flight to safety into $US-denominated assets and the dramatic decline in world oil prices have had...
The Weekly Bottom Line: Policy Bazookas on Display
U.S. Highlights Markets continued to see losses this week as the COVID-19 outbreak intensified. Investors made a dash for cash, resulting in tightening financial conditions. The Fed reacted quickly, cutting the target range of the federal funds rate by a...
The Big Picture: Global Fiscal and Monetary Responses to COVID-19
Since our last update on Wednesday morningof global fiscal and monetary policy responses to the spread of COVID-19, we have seen a few notable developments: In Europe, more fiscal policy packages have been announced by countries and existing packages been...
Volatility Eases As Central Banks And Governments Deploy More Stimulus
The S&P500 advanced 0.47%, the Dow added 0.95%, as Nasdaq surged 2.30% in New York, as the Trump administration proposed more fiscal help including tax rebates up to $1200 per person, but more importantly, emphasized that more help is on...
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