Weekly Economic Perspectives: Record US Expansion Succumbs To COVID-19

Last Week's Highlights

• The Economy
  Record US expansion succumbs to Covid-19; Fed seeks to cushion the blow. Statistics Canada expects a 10% (annualized) drop in Q1 GDP. UK house prices perk up. Eurozone GDP plunges, the ECB tries to do more. The BoJ expands easing measures, focus on corporates. Australia’s Q1 inflation up as consumers stockpile on food.

• The Market
  Broad equity gains but US market cancels early wins with Friday retreat. Bond yields decline in Europe amid gloomy data. The euro weakens. Oil crawls a little higher.