The broad coalition of organizations that comprise Stop the Money Pipeline are warning against any immediate measures in response to the COVID-19 pandemic that would exacerbate the ongoing threat of catastrophic climate change. Instead, recovery measures must prepare the financial sector for the threats posed by the climate crisis.

The ECB issued a new impressive 750bn QE program to deal with the Covid-19 virus. The key elements are that it follows the APP (asset purchase programs) and that it is ambivalently stated regarding the key ratio before maturity in that it seems a tad tougher than the previous program, though importantly Greek bonds are part of the program.

What impact could helicopter money have on the US economy? Charles Hepworth, Investment Director, GAM Investments assesses the ever-evolving situation.

Markets last week scrambled to come to terms with two major exogenous shocks: the spread of the COVID-19 virus and the oil price slump. Such shocks to the global economy are rare. Two huge and unconnected shocks coming within days of each other is an unprecedented event.

On Monday (9 March), equities sold off and credit spreads widened sharply as risk assets had one of their worst days since 2008, at the height of the global financial crisis. Meanwhile, gold and sovereign bonds rallied such that 10-year gilt yields started to approach zero and the whole US Treasury curve fell below 1%.