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Europe has taken the baton from Asia, and fumbled it.
Stocks are dipping at the start of trading in London, amid concerns over rising coronavirus cases in the US.
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Despite evidence of virus surges across the US, the market’s faith in reduced likelihood of the return of massive lockdowns had enabled investors to largely shrug off that concern.
Reopening optimism is showing signs of fading with European stocks pointing to a lower open following two days of gains. The same stubborn optimism that saw Asian stocks creep up to 4-month highs overnight is not being felt here in Europe.
A quiet economic calendar will leave risk sentiment in the driving seat.
“We’re talking about a bunch of different ideas that we may need to do in another bill, and we want to take our time and make sure we’re thoughtful.
“So whatever we do it’ll be much more targeted, much more focused on jobs, bringing back jobs and making sure we take care of our kids.”
- US Treasury Secretary Mnuchin said the administration is very seriously considering another stimulus bill and that the bill may pass in July
Two months after its dire predictions of the steepest recession in almost a century, the International Monetary Fund will release new global economic forecasts this week that will probably look even worse.
Officials at the Washington-based Fund have warned that a revised outlook due on Wednesday may feature a more pessimistic view than in April. Back then, they said the “Great Lockdown” caused by the coronavirus would force a global contraction of 3% this year.
Two months after its dire predictions of the steepest recession in almost a century, the IMF will release new global economic forecasts today – here's what to expect https://t.co/C4yytlVmdg pic.twitter.com/amk5c72RLPContinue reading...