The US Federal Reserve has pledged limitless support for bond markets as American lawmakers grapple over the details of a massive fiscal stimulus package. The Fed's intervention is a major positive development, but fragile markets will still have to absorb a stream of nasty economic data in the coming weeks. Here is what we were paying attention to:
- Governments and central banks have acted quickly and decisively to contain the fallout from the economic impact of coronavirus
- However, there is not yet any respite from the flow of bad news as markets grapple with severe cuts to forecasts
- Companies are battening down the hatches and investors are waiting for signs of stabilisation
