United States:
Fed’s Kashkari Urges Congress to Act, Suggests Fresh Lockdown
“The surging U.S. savings rate means the country can afford to support Americans laid off due to the coronavirus pandemic, while a “hard” lockdown could deliver a faster economic recovery, a senior Federal Reserve official said on Sunday. Federal Reserve Bank of Minneapolis President Neel Kashkari told CBS’s “Face the Nation” that Americans are saving more because they aren’t going out as much during the pandemic, and as a result there would be less need to borrow from abroad to finance additional fiscal aid.”
Europe:
BOE to Keep Backing Stimulus Even as Splits Emerge on Economy
“Bank of England policy makers are set to keep delivering ultra-loose monetary policy even as they disagree over the pace of economic recovery from the coronavirus-triggered recession. While officials led by Governor Andrew Bailey have different takes on how the economy is emerging from the pandemic shock, the next policy decision on Thursday is expected to leave interest rates at a record low and the asset-purchase program unchanged.”
Asia:
Japan’s Economy Shrinks at Same Pace in 1Q as Capex Holds Up
“Japan’s economy shrank at the same pace as previously estimated in the first quarter, according to a further revision of data that continued to show the country was in a recession before the pandemic took its heaviest toll. Gross domestic product shrank an annualized 2.2% in the first quarter compared with the final three months of 2019, the Cabinet Office reported Monday, with business investment showing more resilience than expected.”
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein