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Multi-Asset – CIO Daily Market Update – 18th Mar 2020

Wednesday, March 18, 2020

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

In the US, President Trump invoked the Defense Production Act which allows the government to increase the manufacturing of masks and protective equipment. The Senate passed a second bill to provide economic support for Americans in the form of paid sick leave, food stamps for vulnerable people and support in paying for coronavirus testing. Canada joined a raft of countries announcing a stimulus package which equates to 3% of Canada’s GDP.

In Europe, Angela Merkel indicated that she may be open to joint European Union debt issuance to help alleviate the impact of the coronavirus.

Currency markets moved violently with the US Dollar soaring against its trading partners, pushing Sterling to its lowest level since 1985.

 


IMPORTANT INFORMATION: Issued and approved by Pacific Capital Partners Limited, a limited company registered in England and Wales, authorised and regulated by the Financial Conduct Authority. The information contained herein is not approved for use by the public and is only intended for recipients who would be generally classified as investment professionals. Information or opinions contained in this article do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments. Where past performance is shown it refers to the past and should not be seen as an indication of future performance.

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