Intercam News

The Day at a Glance | March 30 2020

US economy will remain at a standstill President of the United States Donald Trump extended mitigation measures until April 30th, after being advised to do so by his council of experts. According to the president, resuming economic activities would risk increasing the number of deaths. It`s expected the US will record a decrease in new

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The Day at a Glance | March 27 2020

G-20 commits to a $5 trillion dollar stimulus Leaders of the 20 largest economies in the world had a videoconference meeting yesterday and talked about strategies that could mitigate the virus`s negative effects on health and the economy. The group of countries represents 80% of the global economy and they committed to injecting more than

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The Day at a Glance | March 26 2020

Historic increase in US jobless claims Unemployment claims on behalf of US citizens in order to receive benefits increased to 3.28 million, the highest level seen in the country`s history (vs 695 thousand in 1982), which is a sign that a recession in the world`s biggest economy has already begun. This reflects the shock`s severity

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The Day at a Glance | March 25 2020

Fiscal stimulus agreement reached in the US Congress and The White House have finally reached an agreement regarding a $2 trillion dollar fiscal stimulus to back the economy and American citizens in light of COVID-19`s negative economic effects. The Senate is expected to vote on it on Wednesday, for it then to be passed to

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The Day at a Glance | March 24 2020

Worldwide economic activity collapses in March The virus`s effects on the global economy have started to become evident after PMI`s were published in some of the world`s main economies. During March, economic activity came to an abrupt halt in Japan, Europe, and the United States, especially in the services sector. Manufacturing in Japan contracted for

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The Day at a Glance | March 23 2020

FED announces unlimited quantitative easing The Federal Reserve has announced new stimulus measures that include unlimited purchases of mortgage backed securities (MBS) and US Treasury bonds to maintain low costs of debt; and new programs that ensure credit keeps flowing to corporations as well as state and local governments. These measures seek to support the

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The Day at a Glance | March 20 2020

Historical contraction is expected in the United States According to the most recent estimates, the US economy could contract between 5% (annualized) and 9% during 2Q20, surpassing its worst contraction recorded during the global financial crisis a decade ago. The most negative scenarios forecast contractions of up to 14%, with the possibility of seeing the

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The Day at a Glance | March 19 2020

FED makes SWAP lines available for 9 new central banks In order to reduce the global economy`s great demand for dollars in recent weeks the Federal Reserve announced the establishment of temporary SWAP lines to ensure liquidity. These new lines include $60 billion dollars for central banks in Australia, Brazil, South Korea, Mexico, Singapore and

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The Day at a Glance | March 18 2020

Fiscal stimulus measures put pressure on rates Commitments around the world to carry out fiscal stimulus have increased the risk of greater fiscal deficits in governments, which has increased interest rates regarding long-term sovereign bonds. The most notable of these rises was observed this morning in Europe, with Italian BTP´s up 64 bps, 30-year German

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The Day at a Glance | March 17 2020

Emergency response Countries all around the world have escalated measures to contain COVID-19, especially in Europe – Spain has announced closure of its borders and asked its people to stay at home as one thousand new cases have been recorded in the last 24 hours (more than 11 thousand cases in the entire country) and

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