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Multi-Asset – CIO Market Update – 31st Mar 2020

31 March 2020

CIO Daily Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

The final day of an extraordinary quarter for markets saw equities and bonds mixed with European equities rallying and government bonds slipping whilst the US saw equities sell-off and government bonds rallying.  

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Multi-Asset – CIO Market Update – 30th Mar 2020

30 March 2020

CIO Daily Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

News of a slowdown in new cases in Italy provided some hope that social distancing can control the spread of COVID-19. Although in the US, President Trump was forced to admit that life in America won’t get back to normal by Easter. More states in America issued orders instructing individuals to stay at home. 

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G10 Macro Rates Market Analysis – Weekly Review – 27th Mar 2020

30 March 2020

With the Pacific G10 Macro Rates Team 

Global Macro Overview
Another week passed with more and more parts of the world coming under lockdown. It remains to be seen how much damage is going to be done to the global economy, but we started getting the first evidence of a slowdown from economic data released last week.  

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Multi-Asset – CIO Market Update – 27th Mar 2020

27 March 2020

CIO Daily Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

Sterling continued to rally sharply and has now reversed the losses over the past two weeks. Boris Johnson, UK Prime Minister became the first major political leader to be tested positive for COVID-19. The UK government provided advice to home buyers and renters that they should, “where possible, delay moving to a new house while measures are in place to fight coronavirus” but that there is “no need to pull out of transactions” 

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Multi-Asset – CIO Market Update – 26th Mar 2020

26 March 2020

CIO Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

Equities rallied for the third consecutive day as investors brushed off the news that a record 3.3 million Americans lost their job last week. Federal Reserve Chairman Jerome Powell reassured the markets that the Fed will provide sufficient credit to the economy. “When it comes to this lending we’re not going to run out of ammunition. That doesn’t happen.”   

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Multi-Asset – CIO Market Update – 25th Mar 2020

25 March 2020

CIO Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

The US Senate agreed on a $2 trillion stimulus package which equates to some 9% of US GDP. The German parliament approved a EUR750 billion package to combat the economic impact of the coronavirus. Finance minister Olaf Scholz said that its stimulus must be “timely, targeted and temporary to help the economy start again”. India joined the growing number of countries in lockdown whilst Brazilian President Jair Bolsonaro urged the country to resume normal life to protect the economy.  

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Multi-Asset – CIO Market Update – 24th Mar 2020

24 March 2020

CIO Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

Equity markets soared on Tuesday in anticipation of the $2 trillion fiscal stimulus package being approved by the US senate. The Dow Jones Composite, America’s oldest index, had the largest gain since 1933. The House Democrats made a counterproposal for a spending plan that amounts to $2.5 trillion. 

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G10 Macro Rates Market Analysis – Weekly Review – 20th Mar 2020

24 March 2020

With the Pacific G10 Macro Rates Team

Global Macro Overview
Financial markets experienced another turbulent week, as liquidity continued to be challenging even in the largest markets. Volatility remained elevated with the VIX staying above 70 most of the week, TYVIX (VIX for US Treasuries) at the highest levels since 2008 and various instruments (S&P futures, 30y US Treasury futures, 10y BTP futures) hitting their daily limits up and down on several occasions. While markets were evaluating damage to the economic activity, more and more regions in the developed countries were put under lockdown. 

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Multi-Asset – CIO Market Update – 23rd Mar 2020

23 March 2020

CIO Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

The week started with the news that German Chancellor Merkel has been put into quarantine after contact with a doctor who had later tested positive for COVID-19. Overnight in the US, the Senate failed to pass legislation for economic stimulus after senators disagreed on how to spend the $2 trillion package. 

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Multi-Asset – CIO Market Update – 20th Mar 2020

20 March 2020

CIO Daily Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

UK Chancellor Rishi Sunak announced the third emergency package in 10 days which included a plan for the government to pay part of the wages of British citizens for the first time in history.  

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