<p>US initial jobless claims rose 70k to 281k in the week ending March 14, well above expectation of 220k. It was also the highest reading since September 2017. Four-week moving average of initial claims rose 16.5k to 232.25. Continuing claims rose 2k to 1.701m in the week ending March 7. Four-week moving average of continuing […]

<p>After a special meeting, BoE announces to cut Bank rate by -15bps to 0.10%. Also, Asset purchase target is raised by GBP 200B to GBP 645B. BoE will also enlarge the TFSME schedule  financed by the issuance of central bank reserves. BoE said in the statement: “Over recent days, and in common with a number […]

<p>San Francisco Fed President Mary Daly said in an interview that it’s “absolutely appropriate” to have Fed working with fiscal agents to help small businesses and households to “weather this near term shutdown” due to coronavirus. The fiscal stimulus from Congress and the response moves by Fed this week are 

<p>RBNZ announces a package of measures to support financial system functioning during the coronavirus pandemic. A Term Auction Facility is set up to give banks access to term funding, with collateralized loans available out to a term of 12 months. That should alleviate pressures in the funding markets. Other measures include funding in the f

<p>Italian Economy Minister Roberto Gualtieri urges EU to issue new bonds to help the member states fighting impact of the coronavirus. He told newspaper Il Corriere della Sera, “we should foresee the issue of European securities that can be used by each country under the same conditions and must be related to the fight against [&hellip

<p>ECB Governing Council Member Olli Rehn said that Eurozone is now at a “critical juncture” with the coronavirus pandemic. It is “essential for Eurozone governments to “get their acts together and agree to a coordinated European fiscal response.” “There’s a saying: never waste a crisis. Therefore it&

<p>Canada retail sales rose 0.4% to CAD 5.2B in January, slightly above expectation of 0.3% mom. Ex-auto sales, however, dropped -0.1% mom, versus expectation of 0.2% mom. Sales were up in only 4 of 11 subsectors, representing 48% of retail trade. Statistics Canada also noted: “While the impacts of the coronavirus on the retail trade [&

<p>In a unexpected move, ECB announced a massive EUR 750B Pandemic Emergency Purchase Programme (PEPP). The temporary program is for countering the “serious risks to monetary policy transmission mechanism” and the economy outlook posed by “outbreak and escalating diffusion” of the coronavirus. Purchases of private and

<p>US Senate passed the second major coronavirus response bill overnight, which include paid sick leave, food assistance and financial help for coronavirus testeing. President Donald Trump quickly signed the measure hourse after the vote. Republican and Democratic leaders are already working on the third proposal. Senate Majority Leader Mitch

<p>Minneapolis Fed President Neel Kashkari &#8220;how the virus progresses is really going to determine what the ultimate economic impact is&#8221;. He&#8217;s rather pessimistic, noting &#8220;it unfortunately could be devastating, like the financial crisis, or potentially even worse.&#8221; Meanwhile, he told the Congres