Thursday 23rd April 2020

Oil prices have calmed down a little and equities have risen again, but not much has changed. Oil inventories in the US continue to rise, Steve Mnuchin has said it’ll take to the end of the US summer to see there economy back in operation and Corona virus stats out of Europe are taking along time to slow. On today’s podcast NAB’s Gavin Friend also talks about the meeting of EU leaders tonight/tomorrow – could this be the opportunity for Corona bonds to be resuscitated? And the ECB looks set to follow in the Fed’s footsteps, buying high yield bonds. Plus, a bunch of PMIs out in the next 24 hours – will they tell us anything we don’t already know?