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ING’s Covid-19 roundup: Lagarde and Powell’s whatever-it-takes moment

  • 1 May 2020

The Fed's Powell didn’t sugarcoat anything this week, but Lagarde's tone was much more measured. Both have been working hard to prevent credit nightmares, but our podcast highlights the ECB may start buying junks bonds too. As confidence builds Covid-19 curves are turning lower, we look at which currencies could lead FX markets through the recovery phase 

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ECB: Taking a short break without being breathtaking
Quick take
30 April 2020

ECB: Taking a short break without being breathtaking

ECB provides more, even cheaper, liquidity but keeps its QE dry. Suffice to say Lagarde is still trying to find her own fully convincing ‘whatever…

EUR & ECB: Mixed impressions but no risk premia build up
FX Credit Rates
30 April 2020

EUR & ECB: Mixed impressions but no risk premia build up

The newly announced and signalled ECB measures should help contain the EUR risk premium, with the missteps of the ECB March meeting not repeated. We…

The FX road to recovery: Which currencies to back on the path out of lockdown?
FX
30 April 2020

The FX road to recovery: Which currencies to back on the path out of lockdown?

As confidence builds that Covid-19 curves are turning lower and gauges of market risk improve further, attention in the FX world turns to the…

Youtube video thumbnail
29 April 2020

Watch: 6 ways Covid-19 is transforming digital finance

The coronavirus pandemic is hitting global economies but it's also having unforeseen impacts on the evolution of digital finance. Here's how

US: 30 million jobs lost
Quick take
30 April 2020

US: 30 million jobs lost

Another 3.839 million people filed a new unemployment claim last week bringing the total jobs lost to 30.3 million since mid-March. With a further third…

Listen: Fallen angels - The devil in disguise?
Podcast
Rates
1 May 2020

Listen: Fallen angels - The devil in disguise?

The European Central Bank could soon join the US Federal Reserve in buying bonds recently downgraded to junk status. But with default rates over the…

US GDP: The descent begins
29 April 2020

US GDP: The descent begins

After a strong January and February, a combination of Covid-19 containment measures and consumer fear meant activity collapsed in March. With lockdowns…

Federal Reserve: Delivering home truths
Quick take
United States
29 April 2020

Federal Reserve: Delivering home truths

While equity markets are looking positively to the future, the Fed's downbeat tone offers a sobering assessment on economic prospects. Nonetheless,…

BoJ's "whatever it takes"
28 April 2020

BoJ's "whatever it takes"

Markets rise on another "whatever it takes" - this time from the Bank of Japan. But is there any room for more?

Federal Reserve: Coffee break for the plumber
Rates
28 April 2020

Federal Reserve: Coffee break for the plumber

Credit where credit is due, the plumbing job has been effective. Libor is down and continues to fall. Credit spreads have been contained. Last week the…

Libor reform: Big bang moment(s) ahead
Report
Rates
28 April 2020

Libor reform: Big bang moment(s) ahead

The big prep continues; for the day when we morph from Ibors to the holy grail of risk free rates. Slowly but surely progress is being made, but the real…

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