Last week, the Federal Reserve (Fed) took additional steps to provide up to $2.3 trillion in loans to support the domestic economy through the economic shutdown and beyond.
After the sharpest decline from a record high to a bear market, stocks have come roaring back.
Europe needs a common response to address COVID-19, but the latest stimulus does not appear to be the strong, unified fiscal response necessary to help the entire Eurozone through this crisis.
There have already been sovereign credit rating downgrades by rating agencies.
Early economic indicators show that China’s manufacturing sector improved in March versus an abysmal February. However, February’s abysmal data wasn’t hard to beat.
Stocks continue to move in dramatic fashion. The coronavirus shock led to investor panic and forced selling, taking the S&P 500 from a record high to a 34% decline in a little over a month’s time.