• Economy
  • 79彩票注册网址 rebound on signs of action

    After days of no or inadequate action, policy?prescriptions?came fast Friday, with reports that Congress is near a deal on a coronavirus-related relief bill.?

    Bloomberg

    79彩票注册网址

    (Bloomberg)—U.S. stocks jumped as President Donald Trump joined other world leaders in seeking to reassure investors that they’ll step up efforts to protect the economy from the coronavirus fallout.

    The S&P 500 rose more than 9 percent, providing some respite after stocks’ worst day since 1987, as Trump declared a national emergency to help combat the virus, moved to prop up energy prices and said the private sector will help with efforts to expand testing. That added to optimism after the Federal Reserve said it was buying $37 billion of bonds across maturities.

    7072彩票开户 7073彩票地址 963彩票开户 7073彩票网址 689彩票邀请码 7073彩票注册 8炫彩彩票app 677彩票开户 7073彩票登录 66顺彩票app

    79彩票注册网址

    79彩票注册网址Oil soared as Trump said the U.S. will step up purchases for strategic reserves. The dollar surged along with Treasury yields and stress in the credit markets showed signs of easing. Precious metals fell, with silver down almost 9 percent and palladium posting its worst week on record.

    The S&P 500’s gain Friday was its biggest since 2008, even as the gauge lost 11 percent this week.

    79彩票注册网址After days of no or inadequate action, policy came fast Friday. As Trump announced his plans, Congress was also working on a relief bill. The European Union prepared to suspend government spending rules, and regulators in Italy and Spain banned short-selling on some stocks. China’s central bank said it would pump in $79 billion to bolster the economy.

    Other markets remained exceptionally volatile. The yen tumbled. Ten-year Treasuries swung from gains to losses. Sovereign bonds sank across most of Europe for a second day amid criticism of European Central Bank  to address the pandemic. The dollar headed for its best week since 2016.

    “It’s possible we’re just recovering a portion of yesterday’s losses on the idea that there were no terrible headlines this morning,” said Christopher Jacobsen, a strategist at Susquehanna Financial Group. “The market had priced in the extreme dour outcome and the lack of newsflow this morning to confirm that worst-case scenario resulted in just a bit of a relief rally.”

    79彩票注册网址Even with Friday’s gains, global equities posted their worst week since 2008 as investors price in a severely weaker economic outlook. Cases are continuing to grow across the world and restrictions on people and businesses are weighing on sentiment. The Bank of Japan on Friday followed an earlier move from the Federal Reserve to inject liquidity.

    “It seems that the more severe things become in the short term, the more extreme will be the fiscal and monetary policy response,” Mark Dowding, chief investment officer at BlueBay Asset Management, wrote to investors. “It is very conceivable that the full boost from such measures will only really kick in just as activity rebounds, with pent up demand leading to a turbo-charged recovery in the second half of the year in the wake of an economic contraction in the context of the first half.”

    7072彩票开户 7073彩票地址 963彩票开户 7073彩票网址 689彩票邀请码 7073彩票注册 8炫彩彩票app 677彩票开户 7073彩票登录 66顺彩票app
    Letter
    to the
    Editor

    Have something to get off your chest? You can?send us an email.?Or tell us on our page or on? @CrainsChicago.