United States: Government stimulus should cushion the blow to the economy, with federal programs generating a substantial multiplier effect.
United Kingdom: The Bank of England cut rates and launched a QE program.
The second chart below shows the total stimulus represented as a rate cut (equivalent to 300 basis points).
China: Large corporates are being directed to provide their smaller suppliers with shadow financing via entrusted loans, according to Pavilion Global Markets
Equities: Correlations have spiked.
Rates: It’s been all about getting rid of duration risk.
Food for Thought: The cost to set up a company in the US:
Edited by Devon Lall
To receive the Daily Shot Premium, you need to be a subscriber to The Wall Street Journal. The Daily Shot readers qualify for a special membership offer of $1 for 2 months and can join simply by clicking here.
If you are already a WSJ member, you can sign up for The Daily Shot at our Email Center by clicking here.
The Daily Shot Premium is also available online at DailyShotWSJ.com
If you have any issues at all, please contact a Customer Service representative by calling 1-800-JOURNAL (1-800-568-7625) or sending an email to email@example.com.
Contact the Daily Shot Editor: Editor@DailyShotLetter.com