- U.S. stock futures fluctuated amid concern that a rising number of coronavirus cases will hinder global economic recovery attempts
- Florida, Texas and California post record death figures
- China’s Foreign Ministry says China will impose reciprocal measures if the US insists on moving forward with sanctions on Chinese representatives
U.S. stock futures fluctuated amid concern that a rising number of coronavirus cases will hinder global economic recovery attempts. Treasuries pushed higher as a safe heaven, sending five-year yields to a record low, yields move inverse to bonds. Record deaths across US states, and growing fears of a second wave in Asia has placed the focus back on coronavirus growth.
Investors are questioning what else central banks and Leaders can do in terms of providing more stimulus to support a potential secondary wave . China’s Foreign Ministry says China will impose measures if the US insists on moving forward with sanctions on Chinese representatives following the signing of the Human rights bill. As a result, there is an elevated risk-off tone on prospects of further tensions.
- US coronavirus cases rose by 60,565 an deaths by 838 to a total 133,134
- AFP tweeted the US coronavirus caseload rose by a record of over 65,000 in 24 hours
- Texas cases rose by 10,709 to a total of 240,255 whilst the death toll increased by 75 to a total of 3,026 (Previously +116)
- Australian PM Morrison said news from Victoria state is very concerning and announced Australia will reduce the number of inbound arrivals and will conduct a nationwide review of hotel quarantine
- Australia’s Victoria state Treasurer announced an AUD 534mln support package for businesses during the lockdown, while he forecasts unemployment increasing to 11% and GDP declining 14%
- China’s Foreign Ministry has expressed anger towards the US interfering with Chinese affairs through the signing of the human rights bill. China will impose immediate and ‘serious’ measures if the US insists on moving forward with the sanctions outlined in the bill.
- The US is said to be deploying a tariff list against France , amounting to a total of USD 500-700mln in goods, with items targeted potentially including common French produce such as wine, cheese.