Intercam News

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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The Day at a Glance | March 13 2020

Europe prepared to loosen fiscal rules The European Commission declared it is ready to let fiscal stimulus be carried out in the region in case there is further economic damage due to COVID-19. The statement came shortly after Germany committed itself to increase spending as necessary to guarantee liquidity among corporations for as long as

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The Day at a Glance | March 12 2020

Fiscal response doesn´t satisfy President of the United States Donald Trump announced what measures would counter COVID-19´s economic effects yesterday, as the virus´s spread accelerates within the country. Trump also announced flight restrictions to and from Europe for 30 days, criticizing allies whose migratory measures lacked stiffness in order to contain the spread, and stated

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