Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies stirring hopes the world was ...
Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies stirring hopes the world was nearer to emerging from recession.
"However, incoming data from most economies highlight the depth of the contraction, raising risks of longer-term scarring that might undermine the recovery." Closer to home, data in Japan showed the world's third latest economy slipped into recession in the first quarter, putting it on course for its worst postwar slump as the coronavirus takes a heavy toll.
E-Mini futures for the S&P 500 added 0.7per cent, though results from a raft of U.S. retailers this week are likely to make grim reading. So far, the market has easily absorbed the flood of new debt with 10-year yields holding to a tight range around 0.64per cent. The pound touched a seven-week low at US$1.2073 after the chief economist of the Bank of England said it was looking more urgently at options such as negative interest rates and buying riskier assets to prop up the economy.
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