Headlines discussed at LNWM’s Monday morning briefing:
— A $2.2 trillion economic relief package was signed into law by President Trump; US gov’t will spend roughy 10% of US GPD to support workers and businesses as stay-at-home policies continue through April.
— US unemployment claims soared to 3.28 million the last full week of March, highest ever weekly number; 2nd highest was 695,000 claims week of Oct. 2, 1982.
— A key index of US consumer sentiment fell to 89.1 in March from 101 in Feb. 4th biggest monthly drop in past 50 years.
— The Eurozone is facing new financial pressures: Germany and the Netherlands are blocking calls by Italy, Spain, France to issue common Eurozone debt to combat economic impact of coronavius.
— China will allow Wuhan residents to travel freely starting April 8; has closed the temporary hospitals in Wuhan that treated coronavirus patients.
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