(Adds details on stimulus, market activity; updates prices) * Toronto stock index rallies 6.5% * TSX is on track to fall about 18% for the week * Bank of Canada cuts key policy rate by 50 basis points * Canada’s…
Read MoreUPDATE 2-JGBs plunge as investors seek to cover losses, BOJ move fails to impress
(Adds BOJ liquidity announcement, analyst quote and details) TOKYO, March 13 (Reuters) – Most Japanese government bond (JGB) prices tanked on Friday, with the benchmark 10-year yield rising to a seven-week high, as investors were forced to book profits from…
Read MoreJapan vows 'bold' step to beat Covid-19 fallout, signals big spending package
TOKYO (REUTERS) – Japan must take “bold and unprecedented” steps to beat the economic fallout from the coronavirus, its economy minister said, suggesting large-scale fiscal stimulus is in the works, as the government tries to fend off a recession. Any…
Read MoreUPDATE 2-Bank of Canada says it will provide more liquidity for markets
(Adds details on liquidity measures and Canadian dollar) OTTAWA, March 12 (Reuters) – The Bank of Canada on Thursday said it would provide more liquidity to ensure markets continue to operate smoothly amid increasing uncertainty sparked by the coronavirus outbreak….
Read MoreGlobal recession risk spikes as world powers down, markets plunge on coronavirus fears
HONG KONG (BLOOMBERG) – A pandemic-driven global recession is becoming more likely by the day as the flow of goods, services and people face ever-increasing restrictions and financial markets slump. In just the past day or so, President Donald Trump…
Read MoreUS Fed ramps up cash injections to keep market gears grinding
NEW YORK (AFP) – The Federal Reserve on Thursday (March 12) massively increased its efforts to keep the economy on track and quell the growing uncertainty caused by the coronavirus pandemic, injecting US$1.5 trillion (S$2 trillion) of cash into markets…
Read MoreUPDATE 1-Mexico must minimize coronavirus economic drag, finance minister says
(Repeats story from March 11; no changes to text) By Anthony Esposito and Abraham Gonzalez ACAPULCO, Mexico, March 11 (Reuters) – Mexican policymakers need to implement economic measures that can minimize the expected economic headwinds caused by the spread of…
Read MoreJapan's record buying of foreign debt hints at pension fund support
TOKYO, March 12 (Reuters) – Japanese purchases of overseas debt last week surged to a record high, in what investors say is likely a coordinated effort by government pension funds to stem a massive rally in the yen. Domestic investors…
Read MoreTop U.S. Senate Democrat: Coronavirus relief must address housing, schools
WASHINGTON, March 11 (Reuters) – U.S. Senate Democrats on Wednesday said any economic relief package amid the ongoing coronavirus outbreak must include funds to help support housing, and to help keep schools and child care centers clean, among other community-related…
Read MoreUPDATE 1-Boeing plans full drawdown of $13.8 bln loan this week -source
(Changes source, adds share fall) March 11 (Reuters) – Boeing Co is planning a full drawdown of an existing $13.8 billion loan as early as Friday, as the U.S. based plane-maker struggles with worldwide travel disruptions from the coronavirus outbreak,…
Read More