The ultimate public health costs and economic impact of Covid-19 are at this time unknown. Public health responses have weighed the human cost of intensive care units being overwhelmed and the number of preventable deaths exploding against the jump higher in unemployment...

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.

After G7 central banks-finance ministers meeting, Fed decided an intermeeting rate cut by 50 bp to 1%-1.25%. Interest rates served on reserves was also cut to 1.10% and the primary credit rate also cut to 1.75%. In its statement, Fed mentioned the US economy is still strong, but downside risks are developing related to the COVID-19.

Christine Lagarde gave the outline of the strategic review that the ECB will carry out throughout the year 2020, starting in January. The ECB could therefore undergo profound changes under Christine Lagarde, especially with an increased consideration of the mega trends taking place in the economy...

Despite it being more than 10 years since the global financial crisis (GFC), the world remains heavily indebted and there is no realistic prospect of that debt reducing in the short or medium term. Barring glaring historical exceptions, sovereign debt levels in many economies are close to all-time highs...