LONDON — A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.
“The market is very much wanting a coordinated policy response, but the question here is whether a conventional interest-rate response is sufficient, or whether it requires also a fiscal response,” said Sameer Goel at Deutsche Bank.The mild selloff in super-safe government bonds came after yields on benchmark U.S. Treasuries hit record lows in recent days as worries mounted about a potential global recession.
Lagarde’s comments meant the euro was a shade lower at US$1.1111, having hit an eight-week peak of US$1.1185 in the previous session after a string of other top ECB policymakers said the bank was still assessing the situation. Asia-Pacific shares outside Japan ended 0.8 per cent higher, off earlier peaks but still marking the second straight session of rises.
....? Cavalry?
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Market mood turns sour over virus after temporary reliefMounting concerns about the economic impact of the new coronavirus outbreak saw gains in European stock markets wiped out Monday despite hopes of stimulus measures from major central banks. fuuuuuuuuuuuuuuuuuuuck. I’m not even looking at my investments..........until this blows past us and is in recovery mode! The stock market has a life of its own, it is based on fear and greed. Such is the fragile nature of the economic system. Yeshua prophesied this.
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