global economy

The OECD sees a 6% global economic slump this year and warned that the impact of the coronavirus pandemic on businesses and the most vulnerable will require extraordinary government action, it said in its quarterly outlook.

The torrid rally in U.S. stocks pushed the S&P 500 into the green for the year as easing lockdowns bolstered economic optimism. The dollar fell. A jump to a 15-week high on Monday extended the benchmark’s surge from its March low to almost 45%.

Fidelity International believes the Covid-19 crisis will trigger a step-change in policy, accelerate existing trends and transform investment frameworks.

The viral outbreak has instilled a fear in us — more so in some than others — the fear of friends and associates and especially of strangers.

For veteran economist Song Seng Wun of CIMB Private Bank, this recession is the fourth he has seen in his professional career, and judging from current indications, it is shaping up to be the “most extended”.

But what Wong does not understand is why six months later, global indices have bounced back from their lows, with the Dow Jones, Nasdaq and S&P 500 all jumping over 30%.

SINGAPORE (June 3): Policy measures undertaken by governments and central banks may not have their desired effect to mitigate the economic impact of the novel coronavirus (Covid-19) pandemic, warns BNP Paribas.

“While we expect manufacturing activity and external demand to pick up as global lockdowns are loosened, any rebound in activity is likely to be modest compared to the size of the fall in 2Q20,” notes Oxford Economics.

Asian stocks were mixed on Wednesday as investors weigh hopes for economic recovery against deepening US-China strains.

Stocks slid and U.S. equity futures retreated as investors braced for tensions between Washington and Beijing to escalate after China announced plans to impose a national security law on Hong Kong.