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Multi-Asset – CIO Daily Market Update – 19th Mar 2020

Thursday, March 19, 2020

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

Central Banks continued to respond to the coronavirus with both the European Central Bank and the Bank of England announcing further monetary policy easing. Overnight, the ECB announced an EUR 750 billion Pandemic Purchase Program which pushed down the yields on European government debt, notably for Portugal, Italy, Greece and Spain. ECB President Christine Lagarde stated that there are “no limits to our commitment to the euro.”

The Bank of England made a second emergency cut to interest rates in two weeks, reducing interest rates by 0.15% to 0.1% and restarted their government and corporate bond buying program with an additional £200 billion of purchases.


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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