March 30, 2020
- Equities gap lower but stabilize
- Dollar bid once again
- -1.57% -0.17%
- UST 10Y 0.63%
- Oil $20/bbl
- Gold $1620/oz
Asia and EU
- GBP UK Mortgage Approvals 73.5K vs 68.2K
North America Open
- USD Pending Home Sales 10:00
President Trump relented on his timeline of returning to “normal” by Easter and suggested that the U.S. should continue its social distancing policies until at least April 30.
In his typical rambling presser that lasted more than an hour yesterday, President Trump updated the country on all the measures being taken to combat the coronavirus, but perhaps the single most important aspect of the press conference was the radical change in tone from the President who appeared to finally take the crisis seriously even conceding that under the of circumstances COVID may end up causing 100K deaths before it recedes.
Although the news on the infection front was grim with the U.S. closing in on 150K cases and more than 2500 deaths, the very fact that the…