31 March 2020
Emily Nicol
,
Chris Scicluna
- China’s March PMIs rose back above the key 50 level. And ruling-party thinking for Japan’s forthcoming bumper fiscal package started to crystallise. But markets were not wholly impressed.
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30 March 2020
Emily Nicol
,
Chris Scicluna
- As concerns about the impact of the coronavirus continued to spread, further action was taken by policymakers in Asia Pacific countries at the start of the week, with a 20bps cut by the PBoC on its reverse repo operations and a sizeable jobs protection package from the Australian government.
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27 March 2020
Emily Nicol
,
Chris Scicluna
- While Japanese stocks rallied into the weekend, momentum in other major markets softened after EU leaders failed to rise to the occasion again, with Merkel and co. still refusing to countenance issuance of a common euro area bond.
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26 March 2020
Emily Nicol
,
Chris Scicluna
- While the Senate finally endorsed the $2trn US fiscal support package, and the ECB confirmed legally that it will not need to abide by its issuer and issue limits under its new PEPP programme, the market mood in Asia was more downbeat as Covid-19 took its toll on sentiment.
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24 March 2020
Emily Nicol
,
Chris Scicluna
- While the flash March PMIs are signalling a deep contraction in global economic activity, the Fed’s commitment to buy an unlimited amount of USTs and agency MBS provided a fillip to Asian markets.
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