The meltdown in risk assets over recent weeks has been brutal and fast, prompting an aggressive response from global policymakers.
While the declines experienced in equity markets have not yet been as severe as in the 2008-09 Global Financial Crisis, the monetary and fiscal stimulus announced so far has been just as dramatic and has occurred relatively early into the shock. This week, the US Federal Reserve announced a substantial array of new monetary measures to support the financial system and the US economy. Coronavirus: Waiting for the clouds to clear It will expand its quantitative easing (QE) on an open-ended basis and will include purchases of investment grade corporate bonds and bond ETFs as well as ...
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