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New Overnight Developments Abroad – Daily Update

More Fuel for These Stressful Times

April 8, 2020

Finance ministers in the euro area for a second time failed to secure a deal that would coordinate their response against the coronavirus pandemic. They will try again later. The Bank of France revised its forecast of French real GDP growth in the first quarter of 2020 from +0.1% to negative 6%, which would make […] More

Bigger Risk Appetite of Monday Continues

April 7, 2020

Share prices in Asia closed up 9.0% in India, 4.1% in Singapore, 2.1% in China and Hong Kong, 2.0% in Japan and 1.8% in South Korea and Taiwan. Equity markets so far in Europe show additional gains today of 4.3% in Italy, 4.0% in Germany, 3.1% in France, 3.5% in Spain and 3.0% in the […] More

Share Prices Up on Hopes that Covid-19 May Be Starting to Lessen

April 6, 2020

Stock markets in the Pacific Rim rallied 4.3% in Australia, 4.2% in Japan and South Korea, 4.1% in Indonesia, 2.2% in Hong Kong, and 1.6% in Taiwan. China and India did not partake in this rebound as those markets were closed Monday for the Ching Ming Festival and Mahavir Jayanti Holiday. Equities in Europe have […] More

Friday Data Put Coronavirus Recession in a League of its Own

April 3, 2020

The U.S. monthly labor force survey for March could have been worse because of the release’s disclaimer that “the survey reference periods predated many coronavirus-related business and school closures that occurred in the second half of the month.” That being said, non-farm payroll employment plunged 701K, most since April 2009. A drop of 701,000 jobs […] More

Awaiting Weekly U.S. Jobless Insurance Claims Data

April 2, 2020

The stage for this week’s renewed financial market pessimism had been set a week ago when the Labor Department reported a record 3.283K upsurge in new jobless insurance claims for the week of March 21st, and now investors are bracing for an even greater increase of close to 4 million or more. The U.S. advance […] More

Market Strains in Spite of Some Better-than-Feared Economic Data

April 1, 2020

The second quarter and Japan’s new fiscal year began on a difficult note for world financial markets. The Japanese Nikkei slumped 4.5%, while markets in India, South Korea, Hong Kong, Indonesia, and Singapore closed down 4.1%, 3.9%, 2.2%, 1.6% and 1.4%. The German Dax and Paris Cac are currently each 4.1%, while share price losses […] More

Another Downturn in Stock Prices

March 31, 2020

Asian equities had a decent session with gains of 3.6% in India, 2.7% in Singapore, 2.2% in South Korea and 1.9% in Hong Kong, but Japan’s Nikkei closed down 0.9%. Conditions worsened in Europe, with equity market drops so far of 1.4% in France, 0.9% in Germany and 0.4% in France, and U.S. futures also […] More

New Week Brings More Covid-19 Deaths and More Risk Aversion

March 30, 2020

There have now been almost three quarters of a million identified Covid-19 cases around the world, resulting in 35k deaths. About a fifth of the cases have occurred in the United States. In the past 24 hours, Spain reported 537 more deaths to the illness. A ban on U.S. social gatherings has been extended to […] More

Fresh Coronavirus Concerns Hit Share Prices

March 27, 2020

The global tally of identified Covid-19 infections is at 549,430 people and has produced 24,872 deaths thus far. Spain saw its death count jump by 493 in the past day to 4,858 overall. In the U.K., both Prince Charles and Prime Minister John have tested positive. The United States now tops the leader board in […] More

Shocking Leap in U.S. Jobless Insurance Claims Steals the Spotlight

March 26, 2020

From theĀ  outset of this week, the most feared data release was today’s report on new jobless insurance claims for the week ending March 21, which was going to capture the impact of broad business lockdowns to combat the spreading Covid-19 pandemic. New claims had averaged 251k during the four weeks through March 14, and […] More

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