Greetings,
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
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