Home Tags US Economy and Markets
Tag: US Economy and Markets
‘Painfully evident’ damage: Deutsche Bank now thinks the US economy will shrink by nearly 40% in the 2nd quarter following coronavirus loc...
"The extent of the economic damage wrought by Covid-19 and the related containment measures has become painfully evident," said Luzzetti.
The report showed just how quickly the coronavirus pandemic and the subsequent economic shutdowns decimated the US labor market.
Morgan Stanley says the global economy is bottoming out, signaling a ‘sharper but shorter’ downturn than the great financial crisis
Morgan Stanley estimates that by mid-May, "54% of the [US] economy will be in a meaningful reopening phase," wrote economist Chetan Ahya.
"It will, I hope, take care of itself. Markets will take care of themselves over time," Kudlow told CNBC in an interview Wednesday.
US home loan applications drop to the lowest since 2015 as the coronavirus pandemic continues to weigh on the housing market
"Economic weakness and the surge in unemployment continues to weigh heavily on the housing market," said Joel Kan of the MBA.
"The world has finally seen a glimpse of light at the end of this dark tunnel," said Hussein Sayed, chief market strategist at FXTM.
"There is worse to come, hard though that may be to imagine," said a group of analysts from TS Lombard.
Janet Yellen warns coronavirus-hit US economy could contract 30% next quarter, says unemployment might already be 13%
"My hope is that we get back to business as usual as quickly as possible," said former Federal Reserve Chair Janet Yellen.
Jamie Dimon tells shareholders he expects the coronavirus to cause a ‘bad recession’ and ‘financial stress similar to the global fin...
While JPMorgan is equipped to make it through the crisis, Dimon wrote that "our bank cannot be immune to the effects of this kind of stress."
"These numbers were quite a gut punch," Martha Gimbel, an economist at Schmidt Futures, told Business Insider.