🍎THE BEST LAST RESORT LENDER : THE FED, is

business insider: Sinking US Treasury yields signal that negative interest rates in the US “are still possible,” according to a note from DataTrek published on Monday.

While the stock market is breathing a sigh of relief due to stronger-than-expected second quarter earnings, falling interest rates suggest investors are sceptical of the current rally and are still risk averse, the note said.

Last week, the 2-year and 5-year US Treasury rates hit record lows of 0.109% and 0.209%, respectively, and the 10-year rate sat just above record lows.

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While the stock market continues to move higher after better-than-expected second quarter earnings reports, falling interest rates suggest investors are still risk averse and sceptical of the current rally, according to DataTrek.

In a note published on Monday, DataTrek co-founder Nicholas Colas said that negative interest rates in the US “are still possible.” It seems the Treasury market is getting closer to that reality, which might please President Donald Trump.

Earlier this year, President Trump called for negative interest rates in the US, so that the country can take advantage of record yield borrowing rates.

Meanwhile, Fed Chairman Jerome Powell has insisted that the Fed is not looking at negative interest rates as a potential monetary policy tool.

In early March, in response to the COVID-19 pandemic, the Fed slashed the US federal funds rate to 0% to 0.25%.

Last week, interest rates on the 2-year and 5-year US Treasury notes hit record lows of 0.109% and 0.209%, respectively, and the 10-year rate finished last week at 0.533%, just above its record nominal low of 0.498% reached in mid-march, Colas said.

The 10-year note was trading at 1.90% just one year ago, and its long-term trading average is 4.44%, according to data from YCharts.com.

Read more: A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for – and warns another stock-market meltdown is likely

With the US 10-year “flirting with another record-low yield,” investors shouldn’t be surprised if negative interest rates end up in the US as they have overseas.

Negative sovereign yielding debt peaked at $US17 trillion last August, and has since fallen to just above $US10 trillion as of April, according to Barron’s.

Stronger-than-expected second quarter earnings may be masking underlying weakness in the economy, as signalled by continually falling interest rates.

And according to Colas, the earnings beats this quarter are mainly because “so many companies stopped giving earnings guidance in the wake of the COVID crisis,” which led to Wall Street analysts assuming “the worst when they did their earnings models.”

With 63% of S&P 500 companies having reported second quarter earnings so far, 84% of them beat analyst expectations, according to data from FactSet.

But despite the earnings beats, “the slide of long-term Treasury yields is a good reminder that investor risk aversion remains and negative US rates are still possible,” explained Colas, who has pointed out over the past few months that fed funds futures “refuse to give up on the idea of negative US policy rates.”

Now, “Treasury markets are increasingly signalling that possibility,” Colas concluded.

The US 10-year traded at a high of 0.568% on Monday.

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Bisnis.com, JAKARTA - Bursa saham Amerika Serikat mendapat angin segar setelah The Federal Reserve mempertahankan tingkat bunga acuan di rentang 0 persen hingga 0,25 persen.

Berdasarkan data Bloomberg, indeks S&P 500 naik 1,24 persen sedangkan indeks Dow Jones Industrial Average naik 0,61 persen. Indeks Nasdaq Composite juga naik 1,35 persen. Dalam sebulan, tiga indeks saham acuan itu mencetak kenaikan 3,69 persen hingga 6,77 persen.

Keputusan The Fed, seperti yang telah banyak diprediksi-juga membuat dolar melanjutkan tren pelemahan dan di sisi lain mengerek harga emas yang sudah memecahkan rekor harga tertinggi sejak 2011.

Baca Juga : Jelang Pengumuman The Fed, Bursa AS Menanjak

Gubernur The Fed Jerome Powell menegaskan, The Fed akan tetap mengucurkan stimulus dalam bentuk pembelian obligasi dan efek beragun aset selama beberapa bulan mendatang. The Fed bakal menggunakan instrumen apapun yang dibutuhkan untuk memulihkan perekonomian dari dampak pandemi.

"Ke depan perekonomian kita benar-benar tidak pasti dan sebagian besar akan tergantung pada keberhasilan kita dalam menangani penyebaran virus," ujarnya dalam konferensi pers virtual seperti dilansir dari Bloomberg.

Dia menambahkan, untuk mendukung pemuliha ekonomi dibutuhkan stimulus fiskal dan moneter. Saat ini negosiasi dengan Kongres AS telah berlangsung. Nilai stimulus sebelumnya yang diajukan mencapai US$1 triliun.

Baca Juga : Pandemi Belum Berlalu, The Fed Pertahankan Bunga Acuan

Chief U.S Economist di Oxford Economics Gregory Daco mengatakan pernyataan Powell sangatlah tepat dan dia memuji bahwa memang diperlukan stimulus fiskal untuk memulihkan perekonomian.

"Dia berbicara jujur tentang urgensi stimulus fiskal untuk mendukung pemulihan [ekonomi] dan mencegah resesi ganda," ujarnya seperti dikutip dari Bloomberg.

Chief investment strategist Charles Schwab Corp.’s Liz Ann Sonders menyampaikan kendati saham sedang tren menanjak, kinerja laporan keuangan mungkin akan gagal memberikan dukungan untuk reli lanjutan.

"Pada akhirnya dibutuhkan kinerja perusahaan untuk membenarkan lonjakan saham yang sedang terjadi," paparnya.

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NEW YORK - Bursa saham Amerika Serikat (AS), Wall Street menguat. Hal tersebut karena saham teknologi melonjaknya dan mendorong Nasdaq ke rekor penutupan tertinggi. Investor melihat adanya potensi berakhirnya pandemi dengan melihat hasil uji coba vaksin Covid yang menjanjikan.

Saham Amazon Inc (AMZN.O) dan Microsoft Corp (MSFT.O) memberikan dorongan terbesar untuk indeks Nasdaq dan S&P 500. Tetapi industri mundur, membatasi keuntungan nominal Dow.

Baca Juga:

Dow Jones Industrial Average naik 8,92 poin atau 0,03% menjadi 26.680,87. S&P 500 naik 27,11 poin atau 0,84% menjadi 3.251,84 dan Nasdaq Composite menambahkan 263,90 poin atau 2,51% menjadi 10.767,09.

Uji coba vaksin potensial sangat menjanjikan. Baru-baru ini, obat-obatan dari AstraZenica (AZN.L), CanSino Biologics Inc (6185.HK) dan dari kemitraan antara Pfizer Inc (PFE.N) dan perusahaan biotek Jerman BioNTech (BNTX.O) dengan aman diberikan dan diinduksi untuk kekebalan.

Baca Juga:

"Perkembangan pada Covid, positif atau negatif, telah menjadi pemicu risiko risk-on atau risk-off baru untuk pasar. Beberapa minggu ke depan akan dilakukan penilaian dan seperti apa dampaknya?" kata Kepala Investasi NovaPoint Joseph Sroka, dilansir dari Reuters, Selasa (21/7/2020).

Sementara itu, menurut data Refinitiv, musim pendapatan kuartal kedua terus berlanjut. 48 perusahaan dalam indeks S&P 500 telah mengumumkan hasil kinerjanya dengan capaian 77,1% mengalahkan konsensus.

Secara agregat, analis memperkirakan laba kuartal kedua pada perusahaan di Indeks S&P 500 turun 43,2% (yoy).

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BEIJING (Reuters) - China’s exports unexpectedly rose in June as overseas economies reopened after lockdowns, while imports grew for the first time this year, reinforcing views the recovery from the pandemic is gaining traction in the world’s second-largest economy.

Exports

Imports

“The reopening of major western economies and elevated overseas demand for PPEs (personal protective equipment) and masks supported Chinese exports in June,” said Boyang Xue, a China analyst at Ducker Frontier.

“In addition, production disruptions in China’s trade competitors also helped to shift some orders to Chinese exporters.”

China’s economy is gradually emerging from a sharp 6.8% contraction in the first quarter, but the recovery remains fragile as global demand falters from social curbs and still rising coronavirus cases. Chinese consumption is also subdued amid job losses and concerns about a resurgence in infections.

The country’s export performance however has not been as severely affected by the global slowdown as some analysts had feared, though weak overseas orders may weigh on its manufacturers in the coming quarters.

External risks such as worsening U.S.-China relations, shrinking global demand and disruptions in supply chains are likely to pressure China’s trade outlook in the long term, Institute of Advanced Research at Shanghai University of Finance and Economics said in a report on Saturday.

“In the second half, export and import growth are highly likely to extend declines seen in the first half.”

But Xue looked to positives in Tuesday’s trade figures as a sign the economy had turned a corner.

“The significant improvement in China’s imports is an indication of the country’s accelerating economic recovery, which has been mainly driven by substantial increases in investments in sectors such as real estate and infrastructure.”

Iron ore imports jumped in June, the trade data showed, fuelled by rising shipments from miners and robust demand in China. Crude oil imports also hit a record.

U.S. President Donald Trump said on Friday he was not thinking about negotiating a “Phase 2” trade deal with China as relations between Washington and Beijing have been “severely damaged” due to the coronavirus pandemic and other issues.

China’s trade surplus with the United States widened to $29.41 billion in June from $27.89 billion in May.

The country’s trade surplus for June stood at $46.42 billion, compared with an expected $58.6 billion surplus forecast in the poll and a surplus of $62.93 billion in May.

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(Reuters) - The Federal Reserve’s $3 trillion bid to stave off an economic crisis in the wake of the coronavirus outbreak is fuelling excesses across U.S. capital markets.

The U.S. central bank has pledged unlimited financial asset purchases to sustain market liquidity, increasing its balance sheet from $4.2 trillion in February to $7 trillion today.

While the vast majority of these purchases have been limited to U.S. Treasuries and mortgage-backed securities, the Fed’s pledge to bolster the corporate bond market has been enough to spur a frenzy among investors for bonds and stocks.

“COVID-19 is now inversely related to the markets. The worse that COVID-19 gets, the better the markets do because the Fed will bring in stimulus. That is what has been driving markets,” said Andrew Brenner, head of international fixed income at NatAlliance.

Here are some of the market bubbles that investors are attributing to the Federal Reserve’s intervention.

STOCK MARKET BONANZA

The Federal Reserve has not bought stocks as part of its financial stimulus programs. But its near-zero interest rates and credit support for large swathes of Corporate America have driven yield-hungry investors back to the equity market.

(For S&P 500 vs. U.S. GDP graphic see: here)

Since their bottom on March 23, the S&P 500 and the Dow Jones Industrial Average have both risen more than 40% and the Nasdaq composite has gained nearly 60%. The S&P 500’s forward price-to-earnings ratio is currently 21.5, a level last seen during the dot-com boom 20 years ago.

(For S&P price-to-earnings graphic see: here)

IPO FRENZY

The stock market euphoria has spilled over into initial public offerings (IPOs) and other stock sales to investors.

A record $184 billion was raised in U.S. equity capital markets in the second quarter, according to Refinitiv IFR data. Over $8.9 billion worth of IPOs in the second quarter priced above the target range, the highest amount since the third quarter of 2014, according to Dealogic.

“Why anyone would buy Nissans at Bentley prices is beyond me, but that’s what happens generally with any sexy IPO. Sure the Nissan has 4 wheels and it’s fine transportation, but is it worth a Bentley valuation?” said Richard Bernstein, chief investment officer at Richard Bernstein Advisors.

(For IPOs priced above predicted range graphic see: here)

DEBT BINGE

The Fed’s bond-buying programs encouraged companies to tap credit markets and made the second quarter the busiest ever for debt issuance.

(For quarterly U.S. corporate bond issuance graphic see: tmsnrt.rs/2W2BCS3)

Some $1.2 trillion of investment-grade paper was sold in the first half of the year, the highest issuance volume recorded by the Securities Industry and Financial Markets Association. Even though the Fed refrained from buying most junk-rated bonds, issuance was at $200 billion through June, more than double last year’s rate.

“Investment grade and high yield bonds had an incredible quarter in terms of issuance and performance. We just continue to see more and more money flow into those markets,” said Ted Swimmer, head of capital markets at Citizen’s Commercial Banking.

“But there’s been so much new issuance in the second quarter, you get concerned you’re not going to see a ton of new issuance in the third quarter.”

(For annual volume of U.S. corporate debt offerings graphic see: here)

The premiums investors demand for holding riskier corporate debt over safer Treasury bonds, or credit spreads, narrowed sharply in the second quarter. On March 23, investors were paid the highest premium in 11 years to hold junk-rated debt, as measured by the ICE/BofA high-yield index. That number nearly halved by the end of the second quarter.

Investment-grade debt, using the equivalent ICE/BofA index has recovered almost fully from 401 basis points on March 23 to 152 basis points today.

(For U.S. credit spreads graphics see: here)

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Buoyed by recently introduced economic stimulus policies and a positive outlook for economic recovery in the second half of the year, A-shares bounced back on Monday, showing more signs of a bull market.

The benchmark Shanghai Composite Index jumped 5.71 percent to close at 3332.88 points on Monday, which was the highest that the index has been since March 2018. In Guangdong province, the Shenzhen Component Index rose 4.09 percent to 12941.72 points on Monday while the technology-heavy ChiNext in Shenzhen gained 2.72 percent.

The total daily trading volumes reported by the Shanghai and Shenzhen stock exchanges topped 1.56 trillion yuan ($222 billion) on Monday, hitting a five-year high. Northbound investment, or the trading volume from overseas investors using the stock connect program between Shanghai, Shenzhen and Hong Kong, reached 16.43 billion yuan, up 6 percent from the previous trading day.

The daily high in trading volume exceeded 1 trillion yuan for three consecutive trading days, indicating an increasing number of investors entering the A-share market, said Yang Delong, executive general manager of Shenzhen-based First Seafront Fund.

"The logic of the new round of bull market is quite simple. First of all, the low interest rate adopted by China's central bank has secured adequate market liquidity," he said.

"The second reason is the transfer of Chinese household savings. While the central government discourages speculative property investment, household savings need a new outlet for investment and the stock market is the right target. The surge of mutual fund products in the first half of the year has been the most solid proof," he added.

The financial sector led Monday's rally. A-share-listed insurance companies saw their prices rise by 9.49 percent on average, almost reaching the daily limit of 10 percent. Prices of listed commercial banks' securities firms also spiked over 9 percent on average.

Hu Guopeng, chief strategist at Founder Securities, said the financial sector is relatively undervalued if compared with consumption companies and high-growth enterprises. Given favorable new policies for the financial industry, undervalued securities firms, insurers and banks are expected to show strong growth in July.

The China Banking and Insurance Regulatory Commission said on Jan 3 that household savings should be guided into the capital market.

The People's Bank of China, the central bank, and other financial regulators issued on Friday the final version of standards to identify the scope of standardized debt products. The rules will discourage banks' wealth-management businesses from excessive allocation of customer assets under management to riskier shadow banking products, also known as nonstandard products.

The rules will foster the development of asset management business and promote the sustained development of direct financing, according to the PBOC.

While the China Securities Regulatory Commission said at a news conference on June 28 it had no information to provide on the reported issuance of securities licenses to commercial banks, the securities agency stressed the importance of the development of investment banking, which is crucial to the expansion of direct investment.

Expectations of economic recovery in the second half supported the Monday surge and may do the same for the stock market in coming months, according to analysts at Shenwan Hongyuan Securities. Listed technology and consumer goods companies would benefit.

The Chinese economy has staged a V-shaped rebound, backed by better-than-expected performance in industrial production and great resilience in exports, said Hu Yifan, regional chief investment officer and chief China economist at UBS Global Wealth Management.

Policy support, especially infrastructure investment driven by government bonds, is expected to help sustain the recovery over the second half of the year, when economic growth may recover to about 5 to 6 percent year-on-year, Hu said.

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NEW YORK (Reuters) - Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way.

All three major U.S. stock averages advanced, with the benchmark S&P 500 posting its fourth straight daily gain.

Massive stimulus and hopes for a speedy economic rebound have returned the S&P 500 and the Dow to 7.6% and 12.6% below their record highs reached in February.

The indexes registered strong gains for the week.

The U.S. economy added 4.8 million jobs USNFAR=ECI in June according to the Labor Department, 1.8 million more than analysts expected, setting a second consecutive record.

Massive rehiring sent the unemployment rate USUNR=ECI down to 11.1%. [nL1N2E82LC]

“There was a lot to like in economic data for the week,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “And there’s still talk that there will be more stimulus from Washington after they get back from the Fourth of July break.”

Still, even with May and June’s consecutive record payroll gains, the labor market has still recovered only a fraction of the 22 million jobs lost in the March-April plunge.

The recovery of the U.S. economy, now in its sixth month of recession, could stall as new cases of COVID-19 hit record levels and several states hit hardest by the resurgence halted or reversed plans to reopen their economies. [nL1N2E81ES]

On Thursday, Florida reported a record-shattering 10,000 new cases of the disease, worse than any European country reported at the peak of their outbreaks. [nL8N2E94GS]

“With the spikes (in new COVID-19 cases) we’ve seen the larger states - Texas, California and Florida - those states have taken steps to turn back their re-opening plans,” Nolte added. “And that will slow the overall growth and consumer spending in those regions.”

In the coming weeks, market participants will train their focus on second-quarter reporting season. In aggregate, analysts now expect S&P earnings to have dropped by 43.1% as companies grappled with plunging demand and disrupted supply chains.

The Dow Jones Industrial Average .DJI rose 92.39 points, or 0.36%, to 25,827.36, the S&P 500 .SPX gained 14.15 points, or 0.45%, to 3,130.01 and the Nasdaq Composite .IXIC added 53.00 points, or 0.52%, to 10,207.63.

The CBOE Volatility index , a barometer of investor anxiety, logged its largest weekly point drop since the week ending May 8.

Of the 11 major sectors in the S&P 500, all but real estate .SPLRCR and communications services .SPLRCL closed higher, with materials .SPLRCM enjoying the largest percentage gain.

Microsoft Corp (MSFT.O) provided the biggest boost to the S&P 500, and in June retained its top spot as the most globally invested stock, according to data from trading platform eToro.

Tesla Inc (TSLA.O) jumped 8.0% after the electric car maker’s second-quarter vehicle deliveries beat Wall Street estimates. [nL4N2E92OP]

Advancing issues outnumbered declining ones on the NYSE by a 1.90-to-1 ratio; on the Nasdaq, a 1.28-to-1 ratio favored advancers.

The S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 123 new highs and 10 new lows.

Volume on U.S. exchanges was 10.03 billion shares, compared with the 13.24 billion average over the last 20 trading days.

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NEW YORK, Investor.id – Tiga indeks utama saham di Wall Street pada penutupan perdagangan Senin (Selasa pagi WIB) melonjak, dengan Dow memimpin kenaikan sebesar 2,32%. Investor mengantisipasi bakal digulirkannya stimulus lebih banyak lagi oleh Federal Reserve. Saham Boeing melonjak lebih dari 14% setelah 737 MAX lepas landas pada Senin dari bandara daerah Seattle, hari pertama pengujian penerbangan sertifikasi dengan Administrasi Penerbangan. Harga saham Boeing sebelumnya jatuh cukup dalam akibat pandemi, krisis terburuk yang pernah ada. Dow Jones Industrial Average .JJI naik 580,25 poin atau 2,32%, menjadi 25.595,8. Sementara itu, S&P 500 .SPX naik 44,19 poin atau 1,47% menjadi 3.053,24, dan Nasdaq Composite .IXIC menambahkan 116,93 poin atau 1,2% menjadi 9.874,15. Investor kini mulai tenang dan berharap Federal Reserve serta pemerintah akan bergerak untuk pemulihan ekonomi dengan memberi stimulus lebih banyak. Pekan lalu, data lonjakan infeksi virus di negara-negara Selatan dan Barat telah merontokkan Wall Street. Investor meyakini lonjakan infeksi dapat diatasi dengan penetapan harga obat antivirus remdesivir, yang telah terbukti mengubah program COVID-19. Gilead Sciences (GILD.O) yang memproduksi obat itu telah setuju untuk mengirim hampir semua pasokannya ke Amerika Serikat selama tiga bulan ke depan. "Ini pelajaran bulan Juni, gerakan satu hari ini tampak mengesankan tetapi jika diakumulasi selama 20, indeks saham tidak banyak berubah," kata Willie Delwiche, ahli strategi investasi di Baird di Milwaukee. Sementara itu, data kontrak untuk membeli rumah menunjukkan pembalikan arah dari sebelumnya rebound dan mencapai rekor paling tinggi pada Mei. Akhir minggu ini, investor akan fokus pada data ketenagakerjaan dan kepercayaan konsumen. Analis di Morgan Stanley mengatakan, stimulus berupa suntikan uang tunai sangat penting untuk pemulihan ekonomi AS yang berbentuk "V". Di sisi lain, The BlackRock Investment Institute menurunkan peringkat ekuitas AS menjadi "netral." Faktornya adalah memudarnya stimulus fiskal, epidemi yang meluas serta ketegangan perdagangan AS-Tiongkok. Meskipun RUU bantuan untuk Covid-19 $ 3 triliun disahkan oleh DPR pada bulan Mei, Senat yang dikontrol Republik belum menyetujuinya. Hal ini akan menyulitkan RUU Coronavirus lainnya diluncurkan sampai sekitar bulan Juli. Semalam, volume transaksi saham tercatat 10,57 miliar saham, lebih rendah dibandingkan rata-rata 13,54 miliar untuk sesi penuh selama 20 hari perdagangan terakhir.

Sumber : REUTERS

Artikel ini telah tayang di Investor.id dengan judul "Wall Street Melonjak, Berharap Stimulus"
Penulis: Listyorini
Read more at: http://brt.st/6DP5

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Bisnis.com,

Dilansir dari Pada perdagangan Jumat (19/6/2020), penurunan indeks S&P 500 dipimpin oleh saham-saham utilitas, industri energi, dan periklanan.

Dalam satu pekan, indek S&P 500 mencatat kenaikan hampir 1,9 persen, berkat kenaikan tajam pada 16 Juni 2020. Secara tahunan, indeks S&P 500 masih memberikan imbal hasil positif 7,97 persen.

Baca Juga : Investor Sambut Kabar Baik dari AS-China, Wall Street Menguat

Penguatan saham dipicu oleh sentimen rencana China mempercepat pembelian barang-barang pertanian AS sebagai bagian dari kesepakatan perdagangan tahap pertama.

Namun, kinerja ciamik itu luntur oleh kekhawatiran atas angka infeksi Covid-19 yang menunjukkan peningkatan di negara bagian Florida dan Arizona. Investor kebingungan volatilitas yang mendadak ini berakhir dengan penurunan harga saham.

Chief Investment Officer BNY Mellon’s Lockwood Advisors Matt Forester mengatakan volatilitas di psar saham merupakan pertanda yang mengkhawatirkan.

"Ini adalah kelanjutan gelombang pertama.Ini bukan gelombang kedua," ujarnya seperti dikutip dari

Di Eropa, investor fokus pada negosiasi atas usulan Uni Eropa senilai 750 miliar Euro untuk stimulus pemulihan perekonomian. Sentimen ini membantu indeks Stoxx 600 naik 0,6 persen.

Sementara itu, di AS investor yakin pemerintah akan mampu mengembalikan ekonomi ke jalur yang tepat dengan stimulus yang tersedia. Pelaku pasar berani bertaruh sehingga mengerek indeks saham untuk kemudian menahan tren koreksi di pasar saham.

Berikut perkembangan pasar keuangan hingga Jumat (19/6/2020).

Saham

Indeks S&P 500 turun 0,6 persen,penurunan terbesar dalam lebih dari seminggu.
Dow Jones Industrial Average turun 0,8 persen, koreksi terbesar dalam lebih dari seminggu.

Mata uang

Euro turun 0,2 persen menjadi $ 1,118, terlemah dalam lebih dari dua minggu.

Yen Jepang terapresiasi 0,1 persen menjadi 106,86 per dolar, terkuat dalam enam minggu pada kenaikan kelima beruntun.

Obligasi

Imbal hasil pada obligasi AS 10-tahun turun dua basis poin menjadi 0,69 persen, terendah dalam lebih dari seminggu.
Imbal hasil obligasi Jerman menurun satu basis poin menjadi -0,42 persen.
Imbal hasil obligasi Inggris naik satu basis poin menjadi 0,238 persen, tertinggi dalam lebih dari seminggu.

Komoditas

Minyak mentah West Texas Intermediate naik 1,9 persen menjadi $ 39,57 per barel, tertinggi dalam lebih dari seminggu.
Emas menguat 1,2 persen menjadi

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KONTAN.CO.ID - JAKARTA. Wall Street bergerak mixed dengan kecenderungan turun pada awal perdagangan Kamis (18/6). Pada pukul 21.05 WIB, Dow Jones Industrial Average turun 0,46% ke 26.002.

Indeks S&P 500 turun 0,13% ke 3.109. Sedangkan Nasdaq Composite naik 0,06% ke 9.916.

Lonjakan infeksi virus corona di Amerika Serikat (AS) berpotensi menahan pemulihan ekonomi Paman Sam. Apalagi data klaim pengangguran mingguan masih meningkat di tengah gelombang kedua PHK.

Sejumlah negara bagian AS seperti Texas, Florida, dan Oklahoma melaporkan kenaikan kasus infeksi baru. Tapi, Presiden AS Donald Trump kemarin mengatakan bahwa AS tidak akan menutup bisnis lagi.

"Tanpa vaksinasi atau solusi masalah kesehatan ini, masalah ekonomi akan terus bermunculan meski data telah mencapai posisi terendah di AS dan China," kata Nate Fischer, chief investment strategist Strategis Wealth Partners kepada Reuters.

Departemen Tenaga Kerja AS melaporkan bahwa klaim awal tunjangan pengangguran negara bagian mencapai sekitar 1,51 juta di akhir pekan lalu. Angka klaim ini turun dalam pekan kesebelas berturut-turut.

Sementara itu, yield US Treasury turun yang menunjukkan kenaikan harga. Permintaan aset safe haven ini naik di tengah kekhawatiran pasar akibat pandemi corona.

"Pasar keuangan tengah berupaya menyeimbangkan data ekonomi yang positif dengan wabah corona," kata Zach Griffiths, interest rate strategist Wells Fargo kepada Reuters.

Yield US Treasury bertenor 10 tahun berada di 0,713%. Imbal hasil surat utang ini sempat berada di 0,959% pada 5 Juni setelah data menunjukkan bahwa ada penambahan tenaga kerja di bulan Mei.

Tapi, yield surat utang negara AS ini terus turun setelah optimisme perbaikan kondisi ekonomi memudar.

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Key indicators improve on continued policy support in spite of headwinds

China's economic recovery continued to gather speed in May despite shocks from the COVID-19 epidemic with most of the key indicators showing improvement as a result of continued policy support, the National Bureau of Statistics said on Monday.

But officials and economists warned about possible economic head winds ahead as the threat of the novel coronavirus still remains after Beijing, the capital city, reported a new cluster of local COVID-19 infections.

The country's industrial output expanded by 4.4 percent year-on-year in May, 0.5 percentage point faster than that of the previous month, according to the NBS.

Retail sales, a gauge of consumption, dropped by 2.8 percent year-on-year but the contraction narrowed by 4.7 percentage points from April's decline.

Fixed-asset investment in the first five months contracted by 6.3 percent on a yearly basis, recovering from a 10.3-percent decline in the first four months.

Meanwhile, the country's service production index resumed positive in May for the first time since the epidemic started and grew by 1 percent on a yearly basis. This compared with a 4.5-percent decline in April, showing that the service sector is on path to recovery, driven by robust growth of the information technology, financial and the property sectors, according to the NBS.

Fu Linghui, an NBS spokesman, said that the economic data in May were largely in line with expectations as business resumption continued, production and demand improved and employment and prices remained stable.

The economy continued to gather momentum and growth has been supported by the rapid development of the digital economy, online retail sales and high-technology manufacturing, he said.

While major economic indicators continued to improve in May, they were still lower than those of the same period of last year, meaning that business activities have not yet returned to the normal level, Fu said.

"The effect of the COVID-19 pandemic on the global economy continues to evolve and there has been a substantial increase in external uncertainties. China's economic recovery is still under pressure and it requires more efforts to bring the economy back to the path of normal growth," he said.

Economists with Beijing Gao Hua Securities Co Ltd said that the economic recovery was largely helped by continued policy support reflected by the strong sequential growth of total social financing over the past three months and loosening of virus control restrictions and residents' greater willingness to go out because of the perception the spread of the virus was under control.

But they said that the newly reported COVID-19 cases in Beijing may further complicate the economic outlook. "It is still very limited in scale so far and the local authorities have taken swift action. So there is a good chance that the situation will be brought under control," they said in a research note.

Zhang Yu, chief macroeconomic researcher at Hua Chuang Securities Co Ltd, said that the new COVID-19 cases in Beijing could suppress seafood consumption as most cases were linked with a major agricultural and seafood wholesale market in Beijing.

The decline of retail sales in Beijing may drag down retail sales on the national level by about 0.3 percentage point in June, according to Zhang's estimation.

"But given that the local authorities have acted immediately to contain the virus and the city is experienced in outbreak control, the impact is likely to be local and may last for a short period of time," Zhang said.

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Bisnis.com, JAKARTA - Agresivitas produsen emas China untuk mencaplok perusahaan emas di luar negeri tidak surut diterpa pandemi Covid-19.

Buktinya, Zijin Mining Group Co. Ltd. sepakat mengakuisisi Guyana Goldfields Inc. pada hari Jumat (13/6/2020), dengan nilai kesepakatan sekitar C$323 juta.

Mei lalu, produsen emas China Shandong Gold Mining Co. Ltd. telah menuntaskan pembelian saham TMAC Resources Inc. secara tunai dengan nilai sekitar US$149 juta.

Baca Juga : Harga Emas Bersinar Lagi, Dipicu Kebijakan The Fed dan Gelombang Kedua Covid-19

Harga emas spot telah mengungguli pasar ekuitas global tahun ini di tengah ketidakpastian Covid-19 dan banjir stimulus global. Kondisi ini sejalan dengan kenaikan harga emas sebesar 18 persen tahun lalu di tengah kekhawatiran pertumbuhan global.

Alhasil, kilau bisnis emas di tengah pandemi dan ketidakpastian global makin kuat.

Zijin membeli Guyana Goldfields setelah pertempuran sengit dengan dua penambang lainnya. Penawaran awal datang dari Silvercorp Metals Inc. pada 27 April 2020, perusahaan ini ingin membeli Guyana seharga US$0,60 per saham dengan kesepakatan pertukaran saham.

Baca Juga : Tembus China, BIG Siap Ekspor Komoditas Perikanan ke AS dan Australia

Namun, dalam beberapa minggu, tawaran saingan dari Gran Colombia Gold Corp menaikkan penawaran menjadi C$ 0,90 per saham, kemudian mendorong Silvercorp untuk meningkatkan penawarannya menjadi C$ 1,30 per saham. Namun, kedua penawaran akhirnya dikalahkan oleh Zijin dengan harga C$ 1,85 per saham, lebih dari tiga kali lipat tawaran awal C$ 0,60.

Zijin Mining telah melakukan telah berencana untuk mencari peluang merger dan akusisi proyek-proyek penambangan emas yang saat ini sedang dalam produksi atau akan segera memulai produksi sejak tahun lalu. Pada bulan Desember, perusahaan tercatat membeli saham penambang emas Kanada lainnya, Continental Gold Inc., dengan uang tunai $1,37 miliar.

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JAKARTA - Bursa saham Amerika Serikat (AS) Wall Street ditutup menguat pada perdagangan Jumat waktu setempat, setelah perdagangan sebelumnya anjlok.

Namun, ketiga indeks utama Wall Street mengalami penurunan persentase mingguan terbesar sejak Maret.

Melansir Reuters, , Jakarta, Sabtu (13/6/2020), indeks Dow Jones Industrial Average naik 477,37 poin, atau 1,9% menjadi 25.605,54, indeks S&P 500 naik 39,21 poin atau 1,31%, menjadi 3.041,31 dan indeks Nasdaq Composite naik 96,08 poin, atau 1,01%, menjadi 9.588,81.

Untuk minggu ini, indeks Dow berakhir turun 5,6%, S&P 500 turun 4,8% dan Nasdaq turun 2,3%, persentase penurunan mingguan terbesar untuk indeks sejak pekan yang berakhir 20 Maret.

Baca Juga:

Pada perdagangan Jumat kemarin pasar bergerak bak roller coaster dengan indeks S&P 500 naik sekitar 3% di sesi tertinggi dan turun sekitar 0,6% di titik terendah.

Sementara itu, sinyal Federal Reserve soal pemulihan ekonomi akibat meningkatnya kasus Covid-19 di Amerika Serikat telah membuat optimisme investor akan ekonomi rebound cepat.

Baca Juga:

"Penurunan yang cukup besar dan mungkin ada beberapa ketakutan akan kehilangan, beberapa mencoba (mengambil) beberapa nilai ketika itu ada di sana," kata Rob Haworth, ahli strategi investasi senior di Bank Wealth Management di AS.

Sektor keuangan dan teknologi memberi dorongan terbesar kepada indeks S&P 500.

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Bisnis.com, JAKARTA – Bursa saham Amerika Serikat melonjak pada awal perdagangan Jumat (5/6/2020), menyusul rilis data tenaga kerja yang lebih baik dari perkiraan.

Berdasarkan data Bloomberg, indeks Dow Jones Industrial Average menguat 2,73 persen ke level 27.000,57 di awal perdagangan, sedangkan indeks S&P 500 menguat 2,2 persen ke level 3.180,77 dan indeks Nasdaq Composite menguat 1,75 persen ke level 9.784,42.

Ketiga indeks utama bursa AS melonjak menyusul data yang menunjukkan nonfarm payrolls meningkat 2,5 juta, berbanding terbalik dengan proyeksi analis yang memperkirakan penurunan. Sementara itu, pengangguran turun menjadi 13,3 persen di bulan Mei dari 14,7 persen.

Baca Juga : Minim Katalis Lanjutan, Wall Street Melandai di Awal Perdagangan

Meskipun tingkat pengangguran masih sangat tinggi secara historis, ada gelombang antusiasme karena investor bertaruh pada ekonomi global yang dibanjiri dengan stimulus.

Langkah-langkah fiskal dan bantuan moneter dari Jerman dan ECB melampaui ekspektasi pekan ini. Selain itu, ada laporan bahwa pejabat pemerintahan Trump akan menggelontorkan stimulus lanjutan hingga US$1 triliun.

“Laporan tenaga kerja merupakan kejutan besar yang positif," kata kepala analis pendapatan tetap Schwab Center for Financial Research, Kathy Jones.

Baca Juga : Prancis Kritik Upaya Investigasi Pajak Digital oleh AS

Kathy menambahkan bahwa indikator tren menunjukkan bahwa ketika negara membuka kembali perekonomian dan membuat orang kembali bekerja itu pertanda baik.

Indeks S&P 500 sekarang menguat lebih dari 40 persen dari posisi terendah tahun ini pada pertengahan Maret, bahkan ketika pandemi virus Corona (Covid-19) telah menewaskan lebih dari 100.000 jiwa di AS.

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ASIA TIMES: Economic historians may date the start of the Asian century to May 2020, when most Asian economies bounced back to full employment while the West languished in coronavirus lockdown. Asia has emerged as an economic zone as closely integrated as the European Union, increasingly insulated from economic shocks from the United States or Europe.

Google’s daily data on workplace mobility uses smartphone location to determine the number of people going to work – by far the most accurate and up-to-date available reading on economic activity. As of May 13, Taiwan, South Korea and Vietnam were back to normal levels. Japan and Germany had climbed back to 20% below normal. The US, France and the UK remain paralyzed. Google can’t take readings in China, but the available evidence indicates that China is on the same track as Taiwan, South Korea and Vietnam.

Asian economic recovery is consistent with success in controlling the Covid-19 pandemic. China, Japan, Taiwan, South Korea, Hong Kong and Singapore have Covid-19 death rates a tenth of Germany’s and a hundredth of the rate in the US, UK, France or Spain. As I reported May 21, the US is struggling to re-open its economy despite a much higher rate of new infections than the Asian countries or Germany. That entails substantial risk. Two Ford Motor plants in the US that had re-opened May 17 shut yesterday after employees tested positive for Covid-19, for example.

Asia’s short-term surge followed its success in disease prevention. But the long-term driver of Asian growth is China’s emergence as a tech superpower. This week’s session of the People’s Congress in Beijing is expected to pass a $1.4 trillion of new government investments in 5G broadband, factory automation, self-driving cars, artificial intelligence and related fields.

Asia now acts as a cohesive economic bloc. Sixty percent of Asian countries’ trade is within Asia, the same proportion as the European Union. The Google mobility numbers confirm what we learned earlier this month from China’s April trade data. Intra-Asian trade surged year-over-year, while trade with the United States stagnated.

The surge in Chinese trade with Southeast Asia, South Korea and Taiwan shows the extent of Asian economic integration. China’s exports to Asia have grown much faster than its trade with the US, which stagnated after 2014.

China’s stock market meanwhile is this year’s top performer, down only 2% year-to-date on the MSCI Index in US dollar terms while all other major exchanges are deep in negative numbers. The strength of China’s stock market is noteworthy given the escalation of economic warfare with the US, including a US ban on third-party exports of computer chips made with US intellectual property to blacklisted Chinese companies, and the threat to de-list Chinese companies on US stock exchange.

Healthcare technology companies, though, led the Chinese stock market, with Alibaba Health Information more than doubling year to date. China’s ambition to lead the world in artificial intelligence and big data analysis in the health sector got a boost from the Covid-19 pandemic, to the consternation of US officials.

Last week the US Commerce Department imposed controls on sales of semiconductors to Chinese firms on Washington’s “entity list,” if they are produced anywhere in the world with US technology. China’s telecommunications giant Huawei, the world leader in 5G broadband, designs its own chips and contracts their fabrication to Taiwan Semiconductor Manufacturing Corporation, the world’s top chip foundry. TSMC uses American chip-making equipment and will fall under the ban. Industry analysts are waiting to see how strictly the US will enforce these rules, which have a 120-day grace period.

As I wrote on May 18, this represents a bet-the-farm gamble on the part of the Trump Administration, which has failed to dissuade most of its allies from doing business with Huawei, which Washington labels a threat to US national security. A handful of US companies and Holland’s ASML now dominate the market for semiconductor fabrication equipment that can produce state-of-the-art chips. If the US prevents foundries around the world from selling to Huawei, the Chinese firm will have no source of high-end semiconductors. Huawei reportedly has a large inventory of chips; China’s semiconductor imports doubled between late 2017 and late 2018, suggesting that China has stockpiled chips as a precaution. The US ban if fully implemented would damage the Chinese firm.

But that is the last card that Washington has to play. Semiconductor manufacturing equipment is America’s last control point among critical technologies. In US corporate boardrooms and engineers’ Internet chat rooms, the question is not whether, but when China will reverse engineer American or Dutch machines and produce its own. China may not be able to buy high-end computer chips, but it can hire all the chip engineers it wants anywhere in the world. Taiwan now dominates chip fabrication, and a tenth of Taiwan’s chip engineers are now working at double pay on the Chinese mainland, according to media reports.

In the past, China has established its high-tech autonomy much faster than most observers expected. Its number two telecommunications equipment firm ZTE nearly shut down in April 2018 after Washington embargoed sales of the Qualcomm chips that power its smartphones. By December 2018, Huawei was producing its own Kirin chipset, with more power than the Qualcomm product. China still uses American software to design chips, and depends on Taiwanese foundries using US equipment. If China reaches self-sufficiency in chip production quickly, the last stronghold of US tech dominance will fall.

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KONTAN.CO.ID - JAKARTA. Pasar saham Asia bergerak datar pada perdagangan Senin (18/5) pagi. Dalam sebuah wawancara akhir pekan kemarin, Gubernur Federal Reserve A Jerome Powell menuturkan perekonomian Amerika Serikat (AS) bakal sepenuhnya pulih tergantung pada vaksin virus corona.

Mengutip CNBC, indeks Nikkei 225 Jepang naik 0,13% pada awal perdagangan. Sementara, indeks Topix naik 0,18%. Kospi Korea Selatan, di sisi lain, turun secara fraksional.

Sementara itu di Australia, S & P / ASX 200 melonjak 1,1%.

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Secara keseluruhan, indeks MSCI Asia di luar Jepang diperdagangkan naik 0,08%.

Investor mengamati reaksi terhadap komentar Powell baru-baru ini kepada CBS "60 Minutes."

"Dengan asumsi tidak ada gelombang kedua dari coronavirus, saya pikir Anda akan melihat perekonomian pulih dengan mantap sepanjang paruh kedua tahun ini," kata Powell.

Namun, Powell menambahkan bahwa "agar ekonomi pulih sepenuhnya ... itu mungkin harus menunggu kedatangan vaksin."

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CHINA DAILY:

Relief and stimulus measures essential to stave off recession

As confirmed COVID-19 cases around the world keep rising, the economic impact has exceeded that seen during the 2008 global financial crisis. Although another Great Depression may not be on the horizon, temporary shocks might lead to a significant downturn. In the face of disruptions caused by the novel coronavirus pandemic, relief measures and economic stimulus policies are both important. To offset external shocks, China should utilize relief and stimulus measures of no less than 10 trillion yuan ($1.4 trillion). We should consider some factors: investment is no longer the main driving force of China's economy; "new infrastructure" is not strong enough to be the key growth engine; building metropolitan regions is constrained by slower urbanization, and construction of "old infrastructure" like railways, roads and airports has been running close to full capacity. At the same time, consumption has been the main force boosting China's economic growth. Small and medium-sized private enterprises and the service sector are the main creators of new jobs. Thus, economic relief measures should focus on micro, small and medium-sized private enterprises, exporters and traditional manufacturing industries, while the direction of economic stimulus should focus on consumption and service sector industries as well as the "new economy". The impact of the current pandemic has far exceeded that of the severe acute respiratory syndrome in 2003. Affected by the contagion, enterprises are facing shocks not only in terms of labor shortages and supply chain disruptions, but also due to shrinking consumer demand for goods and services. Some enterprises are also facing risks in terms of cash flow, high debt and even bankruptcy. The pandemic may lead to economic recession this year, even worse than that seen in 2008. Economic growth in the United States is expected to slow to -2.8 percent for the full year. The growth rate of the eurozone may be -4.5 percent. China's GDP retreated by 6.8 percent in the first quarter, year-on-year. Without any new stimulus from the government, full-year growth estimates have been revised to 1 to 2 percent by some institutions, down from 6 percent at the beginning of this year. Although the uncertainty of the pandemic may prolong a recession, the contagion has not harmed the basic economic operating mechanism or structure. For enterprises, although short-term income has declined sharply, profits have deteriorated, fund liquidity is insufficient and the supply chain has been interrupted, the core competitiveness of most enterprises will not be harmed as long as the impact does not endure for long. Therefore, necessary relief measures and stimulus policies should be launched quickly, and sufficient measures to offset headwinds should be utilized before a large number of enterprises go bankrupt. This will help ease the economic recession and aid in a faster recovery. In the face of the global pandemic's impact and financial turmoil, many countries provided economic relief and stimulus policies in a timely and aggressive manner. In particular, Western developed countries such as the United States and Germany have cut interest rates to zero or subzero, providing unlimited monetary liquidity, and their economic rescue plans account for 10 to 20 percent of their GDP. For China's economy, under normal conditions, we advocate little to no stimulus and prefer to let the market play a decisive role in resource allocation. However, due to the severe shocks to both supply and demand, it is difficult for the economy to rapidly recover on its own. If we do not take timely measures to stabilize and stimulate the economy, the shrinking investment and consumption will form a negative "multiplier effect". The stock price plunge and credit crunch have led to more negative effects, playing a role as "financial accelerators". And company bankruptcies may lead to chain reactions in a growing debt crisis. In this extreme situation, if we still stick to a "no stimulus" policy, it will be unrealistic. Countercyclical policies amid economic downturns are key and include cutting interest rates. In the early stages of an economic recession, any single policy tool cannot be expected to bring immediate relief. But it can enhance confidence and reduce enterprises' financing costs. We should not shy away from using various policy tools at the expense of economic stability and employment. Differing from earlier rounds of economic stimulus, this time the plan should include consumption subsidies, small and medium-sized enterprise bailouts, support for emerging industries and building smart cities. The plan should not simply focus on investment in new or old types of construction investment. The central government will issue special treasury bonds and local governments will increase bond issuances. In addition, the government can require State-owned enterprises in tobacco and financial industries with huge cashflows to pay a large proportion of cash dividends, which can raise 2 trillion yuan in nontax revenue. We can also transfer 10 percent of State-owned equity to the social security fund and correspondingly reduce 2 trillion yuan in enterprise social security payments. In the face of such a severe economic "short depression", monetary policy undoubtedly should play the role of being a countercyclical measure and immediate, aggressive cuts in interest rates and reserve requirement ratios should be employed and not delayed by monetary policy transmission system reform or real estate policy. Structural monetary tightening will lead to economic slowdown, which will result in a contraction of corporate credit. Only when we believe in the decisive role of the market in resource allocation－and we cut interest rates and conduct monetary easing policy－can we solve the financing problems of private, micro, small and medium-sized enterprises and help lower the real interest rate, stimulate private investment and boost consumption.

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Bisnis.com, JAKARTA— Pasar saham dan minyak ditutup menguat pada penutupan pasar Jumat (15/5/2020).

Dikutip dari Bloomberg, Sabtu (16/5/2020), indeks S&P 500 menghijau namun masih mencatatkan pekan terburuk sejak Maret hanya sebelum reli.

Indeks S&P 500 menguat tipis 0,39 persen ke level 2.63,70. Adapun, indeks Dow Jones Industrial Average naik 0,25 persen ke posisi 23.685,42 dan indeks Nasdaq Composite terkerek 0,79 persen ke level 9.014,56.

Menariknya, saham Sorrento Therapeutics naik 158 persen di tengah klaim pengembangan antibodi virus corona. Sebelumnya, saham terkoreksi karena penjualan eceran dan produksi pabrik mencatatkan penurunan terdalam.

Sementara itu, Amerika Serikat memilih untuk membatasi pasokan cip Huawei Technologies meningkatkan tekanan pada perusahaan semikonduktor.

Di sisi lain, The Fed merilis peringatan bahwa saham dan aset lainnya akan menghadapi penurunan harga signifikan dengan pasar real estat yang terhantam paling parah.

Baca Juga : Data Ekonomi Mengecewakan, Bursa AS Terkoreksi pada Awal Perdagangan 15 Mei

Kondisi pasar juga dibayangi kenaikan tensi dua ekonomi terbesar di dunia pun menimbulkan keprihatinan yang bahkan lebih besar dari resesi global. Hal lain yang turut memengaruhi pergerakan pasar saham yakni rilis Asian Development Bank (ADB) terkait dengan kerugian dunia akibat pandemi virus corona sebesar US$8,8 triliuun.

Kepala Strategi Alokasi Aset Global Wells Fargo Investment Institute, Tracie McMillion mengatakan investor harus mempertimbangkan faktor China.

“Kami mendapatkan data pekan yang menekankan kesulitan ekonomi yang terjadi saat ini,” katanya.

Kondisi pasar saat ini semakin sensitif terhadap kondisi ekonomi yang telah turun dua kali setara dengan acuan reguler.

Direktur Strategi Pasar Miller Tabak Matt Maley mengatakan hal itu menunjukkan bahwa pertumbuhan ekonomi sangat tajam jadi ketika pertumbuhannya tidak meluas, itu bukanlah ekonomi yang sehat.

“Reli tajam biasanya tanda bearish,” katanya.

Investor masih dihantui masalah terkait dengan resesi kendati beberapa negara bagian dan negara di dunia mulai menjalankan bisnis kembali, investor masih dibayangi hubungan China dan Amerika Serikat. Strategist Bloomberg Intelligence Gina Martin Adams mengatakan nilai saham masih terlalu lemah akibat ekonomi belum pulih.

“Peningkatan pada kurva selisih imbal hasil, inflasi dan revisi laba akan dibutuhkan,” katanya.

Pasar juga ditutup dengan penguatan indeks dolar sebesar 0,3 persen dan yield Treasury 10 tahun AS terkerek 0,63 persen. Sementara itu, di pasar komoditas, harga minyak jenis West Texas Intermediate (WTI) naik 7,4 persen ke level US$29,61 per barel dan harga emas terangkat 0,7 persen ke US$1.753,3 per troy ounce.

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Bisnis.com, JAKARTA – Ekonomi Amerika Serikat dinilai menghadapi risiko-risiko yang belum pernah terjadi sebelumnya akibat pandemi virus corona (Covid-19).

Kondisi tersebut dialami jika para pembuat kebijakan fiskal dan moneter tidak bertindak mengatasi tantangan itu, menurut Gubernur bank sentral Federal Reserve AS Jerome Powell.

“Pemulihan mungkin membutuhkan waktu untuk mengumpulkan momentum dan berlalunya waktu dapat mengubah masalah likuiditas menjadi masalah solvabilitas,” ungkap Powell melalui pidatonya dalam acara virtual yang diselenggarakan oleh Peterson Institute for International Economics di Washington pada Rabu (13/5) waktu setempat.

Baca Juga : Powell Keluarkan Peringatan, Wall Street Turun Tajam

“Dukungan fiskal tambahan bisa mahal, tetapi layak jika membantu menghindari kerusakan ekonomi jangka panjang dan membawa kita ke pemulihan yang lebih kuat,” tambahnya, seperti dilansir dari Bloomberg.

Powell dan segenap pejabat Komite Pasar Terbuka Federal (FOMC) telah mengambil bermacam langkah dramatis guna melindungi ekonomi AS selama pandemi virus corona.

Mereka memangkas suku bunga acuannya menjadi hampir nol, terlibat dalam pembelian obligasi tanpa akhir, dan mulai meluncurkan program pinjaman darurat seiring dengan melonjaknya tingkat pengangguran di AS.

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Di tengah suramnya kondisi ini, sebagian investor bertaruh bahwa The Fed mungkin akan mengikuti bank sentral negara lain dalam menerapkan suku bunga negatif demi memacu pengeluaran.

Powell mengakui spekulasi itu. Tapi ia mengatakan bahwa The Fed tidak sedang mempertimbangkan suku bunga negatif saat ini. Meski demikian, ia tidak terkesan sepenuhnya mengesampingkan kebijakan itu sebagai opsi di masa depan.

“Pandangan komite tentang suku bunga negatif benar-benar tidak berubah. Ini bukan sesuatu yang kami cermati,” katanya lagi.

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“Saya tahu banyak pendukung kebijakan tersebut, tetapi untuk saat ini, hal itu bukan sesuatu yang kami sedang pertimbangkan. Kami pikir kami memiliki perangkat yang baik, dan itulah yang akan kami gunakan,” terang Powell.

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NEW YORK (Reuters) - U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500’s best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.

While risk-off selling pulled all three major U.S. stock averages into the red, the S&P 500 and the Dow posted their largest monthly percentage gains since January 1987, with the Nasdaq having its best month since June 2000.

The three indexes remain well within 20% of record highs reached in February, having quickly rebounded since shutdown efforts to curb the spread of the coronavirus pandemic brought the economy to a grinding halt.

The five-week tally of unemployment claims topped 30 million and consumer spending has plummeted, according to the latest round of dismal indicators providing another snapshot of the crushing economic effects of the widespread shutdown.

“We’ve had a tremendous run but we’ve had the worst economic data since the Great Depression,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Business and earnings might not be snapping back as quickly as the v-shaped recovery on Wall Street would imply.”

The Federal Reserved announced that it would broaden its “Main Street Lending Program” by lowering the minimum loan size and expanding eligibility.

“Wall Street is liking all the programs that the government and the Fed are putting together,” Nolte added. “So Wall Street is doing fine but Main Street is going to be a longer process.”

The Dow Jones Industrial Average .DJI fell 288.14 points, or 1.17%, to 24,345.72, the S&P 500 .SPX lost 27.08 points, or 0.92%, to 2,912.43 and the Nasdaq Composite .IXIC dropped 25.16 points, or 0.28%, to 8,889.55.

Of the 11 major sectors in the S&P 500, all but consumer discretionary .SPLRCD and communications services .SPLRCL closed in negative territory, with materials .SPLRCM and financials .SPSY suffering the largest percentage losses.

Earnings season continues apace, with 236 of the companies in the S&P 500 having reported quarterly results. Of those, two-thirds have surprised consensus estimates to the upside, according to Refinitiv data.

But there have been 90 negative pre-announcements in the first quarter, compared with 40 positive, and analysts see aggregate S&P 500 earnings dropping by a year-on-year rate of 14.4% in the first three months of 2020, per Refinitiv.

Market leaders Apple Inc (AAPL.O) and Amazon.com (AMZN.O) reported results after the closing bell. In post-market trading, Apple shares gained more than 2% while Amazon.com was down over 5%.

Facebook Inc (FB.O) climbed 5.2% after the social media company reported better-than-expected quarterly revenue.

KONTAN.CO.ID - NEW YORK. Indeks S&P 500 dan Dow Jones tergelincir pada perdagangan hari Kamis (30/4) setelah laporan jumlah pengangguran yang suram di AS pada bulan ini diumumkan. Namun laporan pendapatan kuartal I 2020 dari Facebook dan Tesla yang meningkat menyokong indeks Nasdaq.

Mengutip Reuters, pada pukul 10.21 waktu setempat, indeks Dow Jones Industrial Averaget turun 216,97 poin atau 0,88% ke level 24.416,89. Indeks S&P 500 turun 18,52 poin atau 0,63% ke 2.929,00.

Sementara Indeks Nasdaq Composite turun 3,74% atau hampir datar pada 8.910,97 yang ditopang oleh kenaikan saham Facebook 5,9%, setelah raksasa media sosial itu membukukan pendapatan kuartalan yang lebih baik dari perkiraan.

Baca Juga: Masuki sore hari, harga emas spot menguat 0,15% ke US$ 1.716 per ons troi

Sembilan dari 11 sektor utama S&P 500 diperdagangkan lebih rendah, tetap penurunan terdalam dipimpin sektor real estate dan sektor konsumen.

Departemen Tenaga Kerja AS merilis pada hari Kamis bahwa jumlah pengangguran mencapai 3,84 juta orang untuk minggu yang berakhir 25 April 2020. Jumlah ini lebih tinggi dari perkiraan ekonom yang sebesar 3,5 juta orang.

Pengumumkan ini disampaikan sehari setelah data mengkonfirmasi kontraksi terbesar untuk ekonomi AS pada kuartal pertama sejak Resesi Hebat.

"Sebagian besar data ini dipandang sebagai sesuatu yang sudah kami terima begitu saja," kata Art Hogan, kepala strategi pasar di National Securities di New York.

"Kami tahu bahwa data ekonomi, terutama yang berkaitan dengan tenaga kerja, adalah buruk dan akan menjadi lebih buruk," tambahnya.

Baca Juga: Menguat ke Rp 15.035 per dolar, rupiah paling perkasa di Asia

Bank Sentral AS, Federal Reserve berjanji pada hari Rabu untuk memperluas program darurat untuk menghidupkan kembali pertumbuhan tetapi memupus harapan untuk rebound cepat, mengatakan ekonomi bisa merasakan beban ketakutan konsumen dan jarak sosial selama setahun

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Bisnis.com, JAKARTA – Bank sentral Federal Reserve Amerika Serikat (AS) memutuskan untuk menahan suku bunga di kisaran level saat ini dan berjanji untuk mempertahankannya hingga ekonomi AS kembali pulih.

Dalam rapat kebijakan Komite Pasar Terbuka Federal (FOMC) yang berakhir Rabu (29/4/2020) waktu setempat atau Kamis (30/4/2020) dini hari WIB, para pembuat kebijakan memutuskan mempertahankan Fed Funds Rate di level 0 persen - 0,25 persen.

Menurut Gubernur The Fed Jerome Powell, pandemi virus corona (Covid-19) telah membawa ekonomi AS ke kondisi "berhenti tiba-tiba" dan tidak dapat dipastikan berapa lama perlambatan akan berlangsung.

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“Aktivitas ekonomi kemungkinan akan turun dengan laju yang belum pernah terjadi sebelumnya pada kuartal kedua [2020],” tutur Powell dalam suatu konferensi pers pada Rabu.

“Mungkin ini artinya ekonomi akan membutuhkan lebih banyak dukungan dari kita semua, jika pemulihan ingin menjadi kuat,” tambahnya, seperti dilansir melalui Bloomberg.

Para pembuat kebijakan juga secara bulat menyatakan akan menggunakan alat-alat yang dimilikinya dan bertindak sesuai kebutuhan untuk mendukung ekonomi. Selain itu, The Fed memperingatkan bahwa pandemi Covid-19 akan membebani ekonomi dalam jangka menengah.

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Berulang kali Powell juga menekankan pentingnya kebijakan fiskal dan mengatakan "ini bukan waktunya" membiarkan kekhawatiran tentang ukuran defisit federal untuk menghambat besarnya tanggapan yang dilancarkan.

Pernyataan tersebut lebih kurang mengulangi pernyataan dalam rapat kebijakan lalu pada 15 Maret yang mengatakan Komite The Fed akan mempertahankan kisaran target suku bunga acuan di kisaran nol.

Hal itu dilakukan sampai yakin bahwa ekonomi AS telah melewati peristiwa-peristiwa baru-baru ini serta berada di jalurnya untuk mencapai lapangan kerja maksimum dan target stabilitas harga.

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“Saya pikir semua orang menderita, tetapi saya rasa mereka yang paling tidak mampu menanggungnya adalah mereka yang kehilangan pekerjaan," kata Powell.

Hanya beberapa jam sebelum The Fed menelurkan keputusannya, Departemen Perdagangan AS melaporkan ekonomi AS menyusut 4,8 persen secara tahunan pada kuartal I/2020, kontraksi pertama sejak 2014 yang saat itu mencatat minus 1,1 persen.

Tak hanya membukukan penurunan terburuk sejak 2008, kontraksi pada kuartal pertama itu juga lebih buruk daripada proyeksi median ekonom dalam survei Bloomberg untuk penurunan 4 persen.

Kontraksi tersebut dialami karena upaya yang dilancarkan pemerintah untuk membendung persebaran virus corona telah memaksa banyak perusahaan di AS tutup dan konsumen tidak keluar dari rumah masing-masing.

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JAKARTA okezone - Aktivitas manufaktur di China dinyatakan menurun pada bulan April. Hal ini sebagai dampak pandemi virus corona terjadi dan menghentikan hampir semua aktivitas ekonomi global.

Baca Juga:

Pemerintah secara bertahap mencabut pembatasan-pembatasan itu sementara jumlah kasus baru telah melambat, tetapi ekonomi terus bertatih-tatih karena kurangnya permintaan di AS dan Eropa, di mana jutaan warga di sana masih berada di bawah peraturan semacam karantina.

Biro statistik itu juga melaporkan PMI nonmanufaktur, yang mencakup aktivitas dalam bidang jasa seperti akomodasi, olahraga dan hiburan, berada pada angka 53,2 pada bulan April, naik satu poin dari bulan sebelumnya, demikian dilansir VOA, Kamis (30/4/2020).

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JAKARTA okezone - Perekonomian Amerika anjlok 4,8% di kuartal I-2020. Hal ini imbas adanya virus corona atau Covid-19 yang telah membekukan sebagian besar industri di Amerika Serikat.

Mengutip VoA Indonesia, Jakarta, Kamis (30/4/2020), seperti diketahui, kuartal I-2019 ekonomi AS masih mengalami kenaikan 3,1%. Anjloknya perekonomian pada kuartal pertama itu adalah yang terbesar sejak krisis ekonomi tahun 2007-2008.

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Liputan6.com, Jakarta - Bursa berjangka bergerak datar dalam perdagangan semalam setelah reli besar di sesi sebelumnya dipicu oleh optimisme bahwa wabah virus corona membaik di AS.

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Dikutip dari CNBC, Rabu (15/4/2020), Dow futures naik 0,25 persen, menunjukkan keuntungan 13 poin. S&P 500 dan Nasdaq ditetapkan untuk dibuka sedikit lebih rendah.

Tanda-tanda bahwa pandemi virus corona mereda mendorong saham lebih tinggi pada hari Selasa, bahkan ketika batch pertama dari pendapatan kuartalan perusahaan menunjukkan keuntungan di tengah wabah.

Dow naik sekitar 560 poin, dibantu oleh Johnson & Johnson, Microsoft dan Apple yang masing-masing naik 4,5 persen, 4,9 persen dan 5 persen. S&P 500 juga mencatatkan kenaikan signifikan, naik lebih dari 3 persen.

Nasdaq Composite naik 4 persen, dipimpin oleh Amazon, yang membukukan rekor tertinggi sepanjang masa karena para investor bertaruh pada meningkatnya permintaan di tengah lockdown.

"Pembelokan kurva virus corona secara bersamaan di seluruh negeri ini dan di seluruh dunia telah membawa percakapan nasional yang luas dan serius tentang memulai kembali ekonomi," kata kepala strategi investasi Leuthold Group Jim Paulsen mengatakan kepada CNBC.

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TEMPO.CO, Jakarta - Agen perjalanan online terbesar di Cina, Trip.com Group melakukan survei terhadap 15.000 orang di 100 kota di Cina pada akhir Maret. Selain menemukan tingginya keinginan pelesiran setelah dua bulan terkurung, Trip.com Group juga menemukan beragam alasan mengapa warga Cina lebih memilih pelesiran di dalam negeri.

“Alasan utama adalah kota-kota populer di Cina adalah rumah bagi banyak situs UNESCO, jadi masih banyak yang bisa ditemukan (oleh wisatawan)," kata Jane Sun, CEO Trip.com Group.

Menukil CNN, di seluruh negeri, Cina memiliki 55 Situs Warisan Dunia UNESCO serta keajaiban alam yang tak terhitung, seperti puncak "mengambang" Zhangjiajie, pemandangan karst Sungai Li di luar Guilin dan Tiger Leaping Gorge di Yunnan.

Saat virus corona mereda, banyak tempat wisata paling terkenal di negara itu perlahan-lahan dibuka kembali, termasuk bagian Badaling dari Tembok Besar Cina dan Pusat Penelitian Chengdu untuk Pembibitan Panda Raksasa.

"Orang-orang Cina ingin tahu dan bersemangat menjelajahi negara mereka dan melihat berbagai provinsi, kota, dan landmark," Holger Jakobs, Wakil Presiden Penjualan dan Pemasaran Wharf Hotels, mengatakan kepada CNN Travel.

"Ada daftar tujuan yang luas yang belum pernah dilihat oleh banyak orang muda. Karena perjalanan internasional menjadi lebih mudah, mereka fokus pada perjalanan cepat ke Hong Kong dan Taiwan dan Asia Tenggara. Tapi sekarang saya pikir akan ada kebangkitan besar klasik tujuan di Cina yang selalu ada tetapi ada di latar belakang untuk beberapa pelancong.

Huangshan atau Gunung Huang, adalah sebuah pegunungan di Provinsi Anhui selatan, di Tiongkok bagian timur. Foto: Olga Lakeeva/@nordsolveig

Wharf Hotels mengoperasikan 10 properti di Cina, memaparkan bagaimana pasar perjalanan pulih, "Saya pikir survei (Trip.com) tepat. Kami sebenarnya sudah melihat rebound dalam perjalanan domestik - termasuk liburan dan perjalanan bisnis yang tidak penting, pertemuan perusahaan dan acara - di properti kami di daerah yang tidak terpengaruh seperti Cina tengah," kata Jakobs.

"Secara khusus, kami telah melihat kenaikan baru-baru ini di Chongqing dan Chengdu. Kota-kota ini sudah menjadi penarik utama untuk perjalanan domestik yang lebih pendek, sehingga hotel-hotel kami di kota itu memimpin pemulihan saat ini di seluruh portofolio kami."

Tren Perjalanan yang Berubah

Meskipun bepergian setelah dua bulan terkurung jadi prioritas, namun survei Trip.com dan Oliver Wyman menemukan, warga Cina memperhatikan benar fakto safety dan kemudahan perjalanan, "Wisatawan Cina ingin merasa aman dan bebas virus di setiap titik kontak sepanjang perjalanan," kata Katie Sham, Direktur Oliver Wyman yang berbasis di Shanghai.

"Mereka ingin memastikan bahwa hotel dan restoran yang mereka pilih sering dibersihkan, dengan kebersihan menjadi prioritas utama staf."

Selain itu, banyak pelancong lebih suka perjalanan singkat dan mudah, yang tidak terlalu jauh untuk menikmati segalanya. Idenya adalah, bahwa jika mereka menghadapi masalah, mereka dapat dengan mudah kembali ke rumah.

Jakobs setuju mengenai hal itu, "Apa yang kami lihat terhadap hotel kami adalah fleksibilitas itu penting," katanya. "Kami melihat kebangkitan pembelian dan pemesanan voucher, artinya Anda dapat membeli voucher untuk beberapa malam kamar dan memiliki fleksibilitas penuh kapan menggunakannya dalam jangka waktu tertentu, kalau-kalau terjadi sesuatu."

Orang-orang berjalan di sebuah jalan kawasan perniagaan di Wuhan, Hubei, Cina tengah, Senin, 30 Maret 2020. Puncak wabah virus corona COVID-19 di Wuhan terjadi pada bulan Februari lalu. (Xinhua/Shen Bohan)

Gaya perjalanan juga akan berubah ketika orang-orang menyesuaikan diri dengan perjalanan pasca-Covid-19. Menurut survei Trip.com, gaya perjalanan paling populer adalah perjalanan mandiri, berpemandu diri, dan tur kelompok kecil.

Sebaliknya, gaya perjalanan yang dianggap tidak aman - seperti tur kelompok besar atau kapal pesiar -- mungkin membutuhkan waktu lebih lama untuk dipercaya warga Cina. Menurut Oliver Wyman, 71 persen responden mengatakan mereka akan menghindari kunjungan bus wisata. Dan 55 persen akan menghindari kapal pesiar, karena risiko kesehatan.

Bagaimana dengan perjalanan ke luar negeri? Sementara perjalanan domestik yang lebih pendek mulai diminati, perjalanan internasional kemungkinan akan menyusul. Sekitar 14 persen responden Trip.com menyatakan minat untuk mengunjungi negara-negara Eropa, meskipun rencana mereka akan tergantung pada faktor safety dan pembatasan perjalanan.

"Perjalanan ke luar negeri akan secara bertahap meningkat segera, setelah pandemi, perbatasan dicabut dan berikutnya visa mulai disediakan kedutaan," kata Sun.

Sementara itu, para ahli di China Research Outbound Tourism Research Institute (COTRI) tidak terkejut dengan hasil survei Trip.com. Menurut mereka, keinginan pelesiran warga Cina menunjukkan kembalinya status quo, dibanding perubahan dramatis dalam kebiasaan bepergian.

Berdasarkan data dari Akademi Pariwisata Cina, wisatawan domestik melakukan lebih dari 6 miliar perjalanan di dalam negeri pada tahun 2019, dibandingkan dengan hanya 155 juta perjalanan ke luar negeri.

"Lebih dari 90 persen dari semua pelancong Cina sudah melakukan perjalanan domestik (sebelum Covid-19), jadi jika Anda bertanya sampel yang kurang lebih representatif dari populasi Cina, itulah yang akan Anda dapatkan," kata Wolfgang Georg Arlt, pendiri COTRI , kepada CNN Travel.

Wisatawan mengenakan masker saat mengunjungi Tembok Besar Cina di Beijing, 24 Maret 2020. Sejumlah objek wisata di Cina kembali dibuka seiring meredanya virus Corona di negara tersebut. REUTERS/Thomas Peter

Lantas ke mana tujuan mereka bila pelesiran ke luar negeri? Arlt memperkirakan para pelancong kemungkinan akan memilih tujuan terdekat di Asia seperti Thailand, Korea Selatan dan Vietnam.

"Itu tergantung pada beberapa faktor: negara mana yang menunjukkan empati ketika Wuhan menjadi pusat krisis, dan tujuan mana yang tidak dianggap berbahaya," tambahnya. Jadi, Eropa dan Australia dan, terutama AS, belum menarik minat wisatawan Cina.

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Bisnis.com, JAKARTA - Credit Suisse Group AG menyarankan hedge fund yang berfokus ke China untuk berkomunikasi lebih banyak dengan investor. Pasalnya, ada kekhawatiran aksi jual bersih atau redemptiondari kawasan tersebut akan meningkat di tengah gejolak pasar.

Sistem hedge fund China cenderung memungkinkan redemption bulanan, berbeda dengan kebijakan penarikan secara kuartalan atau per tiga bulan yang ditawarkan kebanyakan regional lainnya di dunia.

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Head of Equity Sales and Prime Distribution the Swiss Bank’s Asia-Pacific.Jonathan Jenkins mengatakan perusahaan harus dalam “kontak berkala dan proaktif dengan investor” untuk mengartikulasikan peluang yang mereka lihat di pasar dan langkah-langkah yang dilakukan untuk memitigasi risiko.

"Dana dari fund tersebut umumnya memiliki daftar panjang dana yang bisa mereka tebus. Biasanya investor akan lebih sering memilih fund yang terlihat kurang transparan," kata Jenkins seperti dikutip dari Bloomberg, Selasa (2/4/2020).

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Para pengamat semakin banyak menyebutkan bahwa situasi saat ini sejalan dengan krisis keuangan global 2008, ketika kerugian investasi dan aksi redemption memangkas aset hedge fund Asia sebesar 36 persen.

Fund yang berbasis di Asia, cenderung “digunakan” sebagai ATM oleh orang-orang kaya Eropa yang kekurangan uang karena mereka memiliki likuiditas yang lebih besar dan persyaratan penebusan yang lebih longgar.

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Data Eurekahedge Pte. menyebut sekitar 86 persen dari hedge fund yang berfokus di China memperbolehkan investor untuk enarik uang mereka secara bulanan atau bahkan lebih sering, dibandingkan dengan 80 persen fund Asia dan Eropa. Sedangkan 45 persen fund AS hanya memperbolehkan penarikan satu kuartal sekali atau lebih jarang.

Adapun menurut data yang dikumpulkan Hedge Fund Research Inc. menunjukkan bahwa baru pada 2013 aset industri di Asia pulih ke level yang pernah dicapainya sebelum krisis 2008. Sementara itu aset industri global melanjutkan pertumbuhan dalam dua tahun.

Regional Head of the Consultancy Albourne Partners Ltd Richard Johnston mengatalam hedge fund Asia yang dipantau oleh pihaknya cenderung memiliki basis investor yang lebih stabil sekarang, dengan didominasi uang dari institusi AS.

“Hanya hedge fund China yang masih punya porsi cukup besar dari uang institusi Eropa,” tambahnya.

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marketwatch: Asian shares were mostly higher Tuesday after a rally in U.S. stocks, mostly spurred by health care companies’ announcements of developments that could aid in the coronavirus outbreak.

Japan’s benchmark Nikkei 225 JP:NIK gave up early gains and was last down in morning trading. Australia’s S&P/ASX 200 AU:XJO fell 0.4%, while South Korea’s Kospi KR:180721 picked up 1.7%. Hong Kong’s Hang Seng HK:HSI was up 1.2% and the Shanghai Composite CN:SHCOMP gained 0.4%. Benchmark indexes in Taiwan TW:Y9999 , Singapore SG:STI and Indonesia ID:JAKIDX gained.

“Despite some respite for markets overnight, uncertainty remains as the spread of the COVID-19 virus continues,” said Zhu Huani at Mizuho Bank, warning against too much optimism.

“Central banks and authorities continue to step up measures to support the economy.”

In Asia, the Monetary Authority of Singapore eased policy Monday, and the central bank of China has also cut a key interest rate.

Official data also showed that China’s manufacturing activity and service sector bounced back stronger than expected in March, as businesses reopened after the coronavirus shutdown.

The overnight rally on Wall Street tacked more gains onto a recent upswing for the market, which is coming off the best week for the S&P 500 in 11 years, albeit after falling into bear market territory. Optimism is budding that the worst of the selling may be approaching, but markets around the world are still wary as leaders work to nurse their economies through the pandemic. The S&P 500 remains 22.4% below its record set last month, and oil tumbled to an 18-year low.

The S&P 500 rose 3.4% Monday for its fourth gain in the last five days.

“The market wants to see everything line up, and last week everything lined up,” said Nela Richardson, investment strategist at Edward Jones, referring to the unprecedented aid from the Fed and Congress.

Now, she said, President Donald Trump also appears to be in sync with health experts about the need to restrict the economy to slow the spread of the virus. Trump on Sunday extended social-distancing guidelines, which recommend against group gatherings larger than 10, through the end of April. Earlier, he had said he wanted the economy open by Easter.

“Now that message is in line,” said Richardson. “All these things line up coming into this week, and that’s why you saw strong performance last week continuing today.”

The S&P 500 US:SPX rose 85.18 points to 2,626.65. The Dow Jones Industrial Average US:DJIA gained 3.2% to 22,327.48, and the Nasdaq US:COMP gained 3.6%, to 7,774.15.

“We have to look at this rally suspiciously,” said Sam Stovall, chief investment strategist for CFRA. He pointed to prior bear markets where stocks rallied more than 20% only to fall to new lows.

“Granted, this bear is like no other,” he said. “There are too many uncertainties out there for the market masses to have concluded that March 23 was the ultimate bottom.”

Still, the 17.4% surge for stocks since last Monday has brought the first green shoots of optimism.

Economists expect a number of weak reports on the economy to come in through the week. The lowlight will likely be Friday’s jobs report, where economists expect to see the steepest drop in the nation’s payrolls since the Great Recession.

Benchmark U.S. crude US:CLK20 added $1.44 to $21.53. It fell 6.6% to $20.09 a barrel Monday, after touching its lowest price since 2002. May Brent crude UK:BRNK20 , the global benchmark, rose 1.5%. Oil started the year above $60 and has plunged on expectations that a weakened economy will burn less fuel. The world is awash in oil, meanwhile, as producers continue to pull more of it out of the ground.

The dollar US:USDJPY was trading at $108.50, down from $107.57 Monday.

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Jakarta

Tak ada sekat antara China dan Amerika Serikat (AS). Keduanya kini bersatu melawan virus Corona yang menjadi pandemi di beberapa negara dunia.

Kerjasama keduanya terjalin setelah Presiden China Xi Jinping dan Presiden AS Donald Trump melakukan komunikasi via telepon. Percakapan telepon itu dilakukan setelah China dan AS saling perang kata-kata terkait virus Corona dalam beberapa pekan terakhir.

Trump melalui akun Instragramnya menceritakan percakapan singkat keduanya. Dia mengaku terlibat obrolan baik dengan Xi hingga akhirnya keduanya sepakat perangi Corona.

"Baru saja menyelesaikan pembicaraan yang sangat baik dengan Presiden Xi dari China. Membahas sangat detail soal virus Corona yang merusak sebagian besar planet kita," tulis Trump via akun Twitter-nya, @realDonaldTrump.

"China telah melalui banyak hal dan telah mengembangkan pemahaman yang kuat tentang virus (Corona). Kita bekerja bersama secara erat. Banyak hormat," imbuh Trump.

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China, Britain agree to support WHO's role in combating COVID-19

BEIJING -- President Xi Jinping and British Prime Minister Boris Johnson spoke over phone on Monday night and voiced support for the role of the World Health Organization (WHO) in the global fight against the COVID-19 pandemic.

On behalf of the Chinese government and people, Xi extended sincere sympathies to the British government and people over their fight against the coronavirus disease. Upon request, he introduced China's epidemic prevention and control measures.

Xi stressed that China hopes that Britain will enhance coordination with China to minimize the risk of the epidemic's spread while ensuring necessary flow of people and trade.

China is ready to provide support and help for Britain, said Xi, adding that he is confident that Britain will surely prevail over the epidemic under Johnson's leadership.

Reiterating that the Chinese government attaches great importance to protecting the health and safety of Chinese citizens overseas, Xi expressed his hope that Britain will take concrete and effective measures in safeguarding the health, safety and legitimate rights of Chinese nationals on its soil, particularly those studying in Britain.

Viruses know no national boundaries or races, and only by working together can mankind win the battle against them, Xi pointed out.

He called on all nations to push forward cooperation within the frameworks of the United Nations and the Group of 20 (G20), enhance the sharing of information and experience, boost collaboration in scientific research, support the WHO in playing its due role, and improve global health governance.

They should also increase macro-economic policy coordination, so as to stabilize the market, maintain economic growth, safeguard people's well-being, and keep the global supply chains open, stable and safe, added the Chinese president.

Xi said he believes that after beating the COVID-19 pandemic, China and Britain will have deeper mutual understanding and more extensive consensus, as well as broader prospects for bilateral cooperation.

For his part, Johnson said he congratulates the Chinese government and people on the remarkable achievements they have made in epidemic prevention and control with strenuous efforts and enormous sacrifices.

At present, the COVID-19 situation in Britain is grave, he said, adding that Britain has been studying and learning from China's useful experience and taking scientific and effective prevention and control measures.

He said the British side thanks China for its valuable support and help, and will do its best to take care of the health and safety of Chinese nationals in Britain, especially the students.

The prime minister said he fully agrees with Xi that no country can wall itself off from the epidemic and all countries should strengthen cooperation. Britain, he added, supports the WHO in playing an important role, and hopes that all parties will deepen relevant cooperation within G20 and other multilateral frameworks.

Noting that China and Britain will hold the 15th Conference of the Parties to the Convention on Biological Diversity and the 26th UN Climate Change Conference respectively this year, Johnson said the two sides should take them as opportunities to promote international cooperation in health and epidemic prevention.

He added that he looks forward to maintaining close contact with Xi and visiting China at an early date after the epidemic, so as to jointly promote the development of Britain-China relations.

China, France vow to promote multilateral cooperation against COVID-19

China stands ready to work with France to push for closer cooperation within multilateral frameworks, joint control of COVID-19 and better global health governance, Chinese President Xi Jinping said Monday night in a phone conversation with his French counterpart, Emmanuel Macron.

Recalling that at a critical moment in the fight against the coronavirus disease, he and Macron have had three phone calls since January, Xi said that has demonstrated the high level of both the mutual trust between the two presidents and the China-France relationship.

By carrying forward their friendly tradition of mutual sympathy and support, and helping each other with medical supplies, China and France have set an example for people in all countries to help each other and overcome difficulties together, he added.

The Chinese president, who introduced the situation of epidemic prevention and control in China upon request, said he pays close attention to the COVID-19 outbreaks in France and Europe, noting that France is taking a series of active and effective prevention and control measures.

Expressing his sincere sympathies to and firm support for the French government and people, Xi said China is willing to continue to provide support and assistance within its capacity for the European country.

Both China and France shoulder the arduous responsibility of safeguarding international and regional public health security, Xi stressed, suggesting that they carry out sincere cooperation to promote joint research programs, strengthen cooperation in frontier health and quarantine inspection, support the work of the World Health Organization (WHO), help African countries enhance epidemic prevention and control, and strive to build a community of common health.

Xi said China stands ready to work with France to encourage all relevant parties to step up coordination and cooperation within such frameworks as the United Nations and the Group of 20 (G20), engage in joint prevention and containment, improve global health governance, help developing countries and other countries in need with capacity-building, and cushion the epidemic's impact on the world economy.

For his part, Macron briefed Xi on the current epidemic situation in France and the relevant measures that have been taken.

He said he highly appreciates the fact that the Chinese government and people, with great courage and decisive measures, have effectively contained the disease in a short period of time.

The French side, he added, is sincerely grateful for China's valuable support and help, and is willing to make concerted efforts with China to boost bilateral health cooperation and encourage all relevant parties to promote cooperation within such frameworks as the G20 and the WHO, so as to beat the pandemic and cope with its impact on the world economy.

The two heads of state also agreed to maintain close communication and promote bilateral exchanges and cooperation in various fields, so as to ensure continuous development of China-France relations at a high level, and maintain the stability of China-France as well as China-Europe industrial chains and supply chains.

Xi says China backs Egypt's fight against COVID-19

President Xi Jinping said on Monday night that China supports Egypt's epidemic prevention and control efforts and stands ready to jointly fight the COVID-19 outbreak.

Xi made the remarks in a telephone conversation with Egyptian President Abdel-Fattah al-Sisi.

The coronavirus disease is currently erupting at different places around the world, said Xi, adding that facts have shown once again that mankind is a community that shares weal and woe, and that all countries must unite and work together to jointly cope with the epidemic.

China, he said, will work with other countries to step up international cooperation in epidemic prevention and control, jointly address common threats and challenges, and safeguard global public health security based on the notion of a community with a shared future for mankind.

After COVID-19 broke out in China, the Egyptian side has expressed its support for China's fight against the epidemic, demonstrating the profound friendship between the two countries that always stand together through thick and thin, as well as the high level of their comprehensive strategic partnership, said Xi.

Noting that the North African country is also facing the urgent task of battling the epidemic, he said China is willing to share epidemic-related information, experience on prevention and treatment, and outcomes of medical research with Egypt and provide it with medical supplies to support its prevention and control efforts and jointly beat the disease.

The Chinese president added that he believes the traditional friendship between China and Egypt will be deepened through the joint fight against the epidemic.

China attaches great importance to the development of its relations with Egypt, and is willing to join hands with the Egyptian side to deepen their practical cooperation in various fields, and build their relationship into a pilot model of a China-Arab as well as a China-Africa community with a shared future.

For his part, Sisi noted that China's fight against COVID-19 has achieved positive progress, which has once again demonstrated the strength of Xi's wise leadership and the solidarity of the great Chinese people.

The Egyptian side always firmly believes that China will prevail over the epidemic and will grow ever stronger, he added.

Egypt, he said, is grateful for China's support and help, and is confident that through the joint fight against the disease, the friendship between the two countries will be further cemented.

Stressing that Egypt and China are special and friendly partners, Sisi said he attaches great importance to the bilateral ties and stands ready to work with China to boost their practical cooperation of mutual benefit in various fields and enhance communication and coordination in international affairs.

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Bisnis.com, JAKARTA – Bursa saham Amerika Serikat bangkit ke zona hijau dan langsung melonjak lebih dari 5 persen pada awal perdagangan hari ini, Selasa (24/3/2020), didorong kembalinya minat investor untuk aset-aset berisiko.

Berdasarkan data Bloomberg, indeks S&P 500 naik tajam 5,7 persen pada pukul 9.50 pagi waktu New York. Pada saat yang sama, indeks Stoxx Europe 600 menanjak 5,6 persen dan indeks MSCI Asia Pacific melonjak 5 persen.

Para senator di Kongres AS saat ini dikabarkan tengah merundingkan poin-poin final dalam rancangan undang-undang (RUU) stimulus bernilai sekitar US$2 triliun guna membantu ekonomi AS melalui pandemi virus corona (Covid-19).

Ketua Dewan Perwakilan Rakyat (DPR) Nancy Pelosi mengatakan dia berharap kesepakatan terkait RUU tersebut dapat dicapai pada hari ini waktu setempat.

“Tanda-tanda kabar positif apapun yang datang dari Washington atau pihak yang berbeda menciptakan sedikit sentimen positif di seluruh pasar,” ujar Peter Essele, kepala manajemen portofolio untuk Commonwealth Financial Network, seperti dilansir Bloomberg.

Di sisi lain, dolar AS merosot terhadap mata uang negara maju dan berkembang, mematahkan reli penguatan beruntun terpanjangnya sejak 2012.

Nasib dolar AS berubah drastis setelah bank sentral Federal Reserve AS mengumumkan stimulus terbaru, yang mendorong pelaku pasar memburu aset-aset berisiko dan melepaskan greenback.

Pada Senin (23/3/2020), The Fed mengumumkan gelombang inisiatif kedua bernilai besar-besaran untuk mendukung perekonomian AS.

Inisiatif yang dimaksud mencakup pembelian obligasi dalam jumlah tak terbatas guna menjaga biaya pinjaman tetap rendah serta menyiapkan program-program guna memastikan aliran kredit ke perusahaan-perusahaan juga pemerintah negara bagian dan lokal.

The Fed menyebutkan akan membeli obligasi Treasury dan surat berharga berbasis mortgage yang dikeluarkan badan pemerintah (agency mortgage-backed securities/MBS).

Baik obligasi Treasury dan agency MBS akan dibeli dalam jumlah yang dibutuhkan untuk mendukung kelancaran fungsi pasar dan transmisi kebijakan moneter yang efektif ke kondisi keuangan dan ekonomi yang lebih luas.

Namun, langkah dari sisi fiskal masih mandek. Kongres AS sejauh ini belum juga menemukan kesepakatan yang menuntaskan perbedaan pandangan kubu Demokrat dan Republik di dalamnya terkait RUU stimulus.

Sementara itu, aktivitas sektor manufaktur dan jasa AS untuk Maret dilaporkan mencatat kontraksi tajam. Fakta ini mengindikasikan mendalamnya dampak dari pandemi corona.

“Sentimen telah membaik, tetapi menyebutnya titik balik adalah kata yang terlalu kuat untuk saat ini,” ungkap James McCormick dari NatWest Markets.

“Situasi ini lebih serupa tarik tambang. Bazooka kebijakan sudah ada, tetapi akan berjuang melawan data yang sangat lemah dan tren yang masih mengkhawatirkan tentang data Covid-19. Kami lebih dalam posisi netral untuk aset berisiko saat ini,” jelasnya.

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BEIJING, iNews.id - People's Bank of China (PBOC) yakin perekonomian China akan pulih dengan cepat dalam tiga bulan ke depan. Ekonomi negara terbesar kedua di dunia itu sebelumnya tertekan wabah korona Covid-19.

"Indikator-indikator ekonomi sepertinya bakal menunjukkan peningkatan signifikan pada kuartal dua dan kembali pada potensinya secara cepat," ujar Deputi Gubernur PBOC, Chen Yulu dikutip dari Bloomberg, Minggu (22/3/2020).

Perekonomian China tertekan sejak Februari silam setelah negara itu memberlakukan lockdown yang membatasi pergerakan orang dan barang. Aktivitas ekonomi di China saat ini mulai kembali berjalan meski belum pada level yang normal akibat merebaknya wabah di negara-negara lain.

"Berdasarkan data transaksi pembayaran, tabungan, dan pinjaman, sejak Maret ekonomi riil China meningkat lebih cepat daripada target," ucap dia.

PBOC akan terus melanjutkan pemberian stimulus ekonomi kepada UKM dan korporasi, termasuk perusahaan yang terlibat mata rantai pasok utama perdagangan global.

Wakil Kepala Otoritas Jasa Keuangan (OJK) China, Li Chao mengatakan, pasar saham China jauh lebih tangguh dibandingkan negara-negara lain di tengah wabah Covid-19. Hal ini terjadi karena pelaku pasar melihat rendahnya risiko sehingga percaya dengan kemampuan pemerintah China menangkal dampah korona.

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CHINA DAILY: Timely measures calm jittery bourses amid rising row over globalization

Policy commitments and timely intervention by monetary authorities in China have helped douse the fires of another global financial crisis and calmed the jittery financial markets, amid the novel coronavirus outbreak, experts said on Thursday.

Global equity and commercial markets were in turmoil this week despite the market stabilization measures announced by several governments as the outbreak spread to more regions and geographies.

"It is still too early to say if a global financial crisis has broken out, or it may be just a prelude," said Yu Yongding, a member of the China Finance 40 Forum and a global council member of the Chinese Academy of Social Sciences.

China had announced expansionary monetary and fiscal policies to curb the downturn risks at a very early stage of the virus outbreak. Most of these measures were quite different from the traditional methods to stimulate demand.

However, additional action is still required by China to offset the possible disruptions to external supplies due to the rising anti-globalization sentiment and deteriorating global economic outlook, said Yu.

Though economic growth fell in China last month, most of the experts expect it to rebound quickly. The epidemic is expected to have shaved off nearly 1.2 percent of the country's annual GDP, due to the sharp decline in consumption during the first two months, Zhu Min, head of Tsinghua University's National Institute of Financial Research and former IMF deputy managing director, said at a meeting of the China Development Forum on Thursday.

Policymakers should focus on boosting GDP growth and stabilizing asset prices and maintaining relatively steady interest rate spreads. Such measures will benefit the Chinese yuan and A shares, said Huang Haizhou, managing director at China International Capital Corp.

"Obviously, China needs to consider a new round of supportive policies, but should not be in a hurry to cut interest rates like other global central banks," said Robin Xing, chief economist for China at Morgan Stanley.

Additional actions that policymakers could consider are steps to shore up fiscal deficit and increase financing through special bonds issued by central and local governments. The higher deficit could support tax exemptions, issue of consumption coupons or increase infrastructure investment, he said.

"When major central banks are cutting interest rates nearly to zero, the higher returns offered by Chinese sovereign assets will become more attractive to investors. This means that it is an opportune time to issue special Treasury bonds," said Xing.

According to Morgan Stanley data, since the middle of January, 18 of the 30 major central banks have eased monetary policy. The global weighted average policy rate has declined by 54 basis points since December 2019 and by 166 basis points since December 2018.

The US-based brokerage said 25 more central banks may go in for rate cuts by the end of the second quarter. Most of the G4(US, EU, UK and Japan) central banks have returned to the quantitative easing path.

Strong commitments from policy makers also include a sizable fiscal expansion plan, and Morgan Stanley economists expect that in the G4 economies plus China, the combined primary fiscal balance will rise by 280 basis points or by $1.7 trillion. The G4 and China deficit will reach 6.9 percent this year, higher than the post-crisis rate of 6.5 percent in 2009.

The US Federal Reserve announced late on Wednesday that it was launching an emergency program－the Money Market Mutual Fund Liquidity Facility (MMLF), to help money market funds meet redemption demands from households and other investors by adding liquidity. The US Treasury Department will also provide $10 billion of credit protection. Hours before the Fed's new action, the European Central Bank also took a late-night decision to start a 750 billion euros ($820 billion) bond purchase program to calm markets.

The US Fed launched three emergency lending facilities within two days. On Tuesday, it decided to buy commercial paper to ease market turmoil and encouraged primary dealers to extend credit to households and businesses. The Fed also made the terms of its discount window more attractive by cutting the discount window primary rate by 150 basis points and lowering the reserve requirement ratio by 10 points, so that banks would be reluctant to use the discount window as a source of funding.

Interestingly, the Fed had used the same monetary tools during the 2008 global financial crisis. The package of financial stabilization measures was slashed after the Fed cut its policy rates nearly to zero on Sunday, with a plan to buy $700 billion in securities to ease fear from Wall Street sell-offs amid the widening spread of the novel coronavirus.

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WASHINGTON (Reuters) - The U.S. Federal Reserve’s balance sheet reached a record $4.7 trillion this week and banks grabbed cut rate loans from the central bank as efforts to blunt the economic damage of a global health crisis took hold.

Data released Thursday showed bank borrowing from the Federal Reserve’s “discount window” spiked to more than $28 billion this week, compared to $11 million the week before, after the central bank slashed the cost of loans and encouraged firms to tap the Fed to help funnel credit into the economy.

The discount window is the main tool through which the Fed acts as the economy’s “lender of last resort,” and has often been avoided by banks who feel that using it is a sign of distress.

But as in the 2007 to 2009 crisis the Fed has been trying to break that stigma and encourage banks to use the discount window freely, on Sunday slashing the interest rate to 0.25% and allowing banks to borrow for up to 90 days at a time.

“The Federal Reserve Board is encouraged by the notable increase in discount window borrowing this week with banks demonstrating a willingness to use the discount window as a source of funding to support the flow of credit to households and businesses,” the Fed said in a statement released alongside data on bank borrowing for the week.

It was the largest amount taken from the discount window since October 2009, when the United States was still climbing out of the 2007 to 2009 recession.

It was also a tangible sign of the Fed’s actions this week starting to take hold. The Fed slashed its target interest rate to near zero and has rolled out in quick succession a series of other measures to ensure bank, corporate funding and overseas markets continue to function even as large parts of the economy shut down to try to squelch the coronavirus epidemic.

Between the discount window loans, expanded short-term loan repurchase operations, and a resumption in bond buying, the Fed’s balance sheet hit a new high of $4.7 trillion — a record setting one week jump of around $350 billion that topped the pace of balance sheet expansion reached during the previous crisis.

That is a marked change from a year ago when the Fed was trying to shrink the size of its holdings as it closed down the last of its crisis-fighting efforts of a decade ago.

The coronavirus epidemic has now thrown all of that into reverse, with the Fed’s balance sheet and ability to buy large amounts of securities again being used to manage an unforeseen round of turmoil.

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KONTAN.CO.ID - WASHINGTON. Presiden AS Donald Trump mengatakan, keputusan Federal Reserve pada hari Minggu untuk memangkas suku bunga adalah "kabar baik" dan "membuat saya sangat bahagia".

Melansir Reuters, hal itu dia ungkapkan ketika Trump memberi selamat kepada bank sentral untuk mengambil tindakan lebih lanjut yang bertujuan membantu menopang perekonomian AS di tengah pandemi global virus corona.

Baca Juga: BREAKING NEWS: The Fed pangkas bunga mendekati nol dan aktifkan toolkit era krisis

"Ini berita yang sangat bagus. Ini bagus untuk negara," kata Trump, yang sebelumnya secara terbuka telah menekan The Fed untuk memangkas suku bunga demi meningkatkan ekonomi selama wabah virus corona yang meningkat cepat, pada konferensi pers Gedung Putih seperti yang dikutip Reuters.

Baca Juga: Pengamat: Program Buyback Saham Perlu Pakta Integritas dan Kode Etik

Sesaat sebelum Trump berbicara, The Fed memotong suku bunga untuk kedua kalinya dalam waktu kurang dari dua minggu sebagai langkah darurat lain. Dalam sebuah pernyataan, bank sentral mengatakan menurunkan suku bunga ke kisaran target 0% - 0,25%.

Baca Juga: Kebijakan Moneter The European Central Bank (ECB) yang longgar, lemahkan EUR/USD

Trump juga mendesak warga Amerika, agar tidak melakukan panic buying kebutuhan pokok. Dia mengimbau agar mereka membeli sedikit lebih sedikit. Dia menekankan, toko ritel AS berkomitmen untuk tetap buka dan menyediakan pasokan sepanjang krisis.

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KONTAN.CO.ID - JAKARTA. Wall Street melesat di perdagangan terakhir pekan ini setelah Presiden Amerika Serikat (AS) Donald Trump menyatakan darurat nasional virus corona pada Jumat (13/3).

Kemarin, Dow Jones Industrial Average menguat 9,36% ke 23.185,62. Indeks S&P 500 melompat 9,29% ke 2.711,02 setelah turun 9,5% di hari sebelumnya. Nasdaq Composite menanjak 9,35% ke 7.874,88.

Meski melesat di perdagangan terakhir pekan ini, Dow Jones masih turun 10,36% dalam sepekan terakhir. Indeks S&P 500 dan Nasdaq masih tercatat turun masing-masing 8,79% dan 8,17% dalam sepekan.

Baca Juga: Trump menyatakan darurat nasional virus corona di AS

Pernyataan kondisi darurat nasional Trump akan memungkinkan pengucuran dana sebesar US$ 50 miliar untuk melawan pandemi virus corona. Tak cuma mengangkat Wall Street, pernyataan Trump pun menyulut kenaikan harga minyak karena Trump menyatakan bahwa AS akan mengambil keuntungan atas penurunan harga minyak untuk menaikkan cadangan strategis AS.

"Masih terlalu dini untuk mengatakan bahwa kondisi akan membaik, tapi ini mengarah ke jalur yang tepat," kata Michael Arone, chief investment strategist State Street Global Advisors kepada Reuters.

Arone mengatakan bahwa investor dan penduduk AS kecewa dengan respons awal pemerintah AS atas pandemi virus corona.

Baca Juga: Virus corona meluas, pembatalan Airbnb kini tak kena biaya

Meski bursa menguat, volatilitas pasar masih tinggi. Penguatan pasar saham menyebabkan investor melepas US Treasury. Ini menyebabkan yield surat utang AS naik. Yield US Treasury bertenor 10 tahun naik ke 0,9829% dari sebelumnya 0,852%.

Justin Hoodendoorn, head of fixed income strategy and analytics Piper Sandler di Chicago mengatakan hanya ada sedikit bids di pasar. "Ini menunjukkan volatilitas tinggi dan bahwa kurang likuiditas di pasar," kata dia.

Kemarin, harga minyak mentah WTI naik 4,54% ke US$ 31,73 per barel dan minyak brent naik 5,27% ke US$ 34,97 per barel. Meski naik, harga minyak masih mencatat penurunan mingguan terburuk sejak 2009.

Baca Juga: Ada stimulus untuk tangkal virus corona, defisit APBN 2020 melebar jadi 2,5% dari PDB

Nilai tukar dolar melanjutkan penguatan hari sebelumnya. Partisipan pasar mengatakan bahwa tanda-tanda tekanan pendanaan dolar masih ada dan otoritas kemungkinan perlu untuk bertindak lebih jauh. "Ini mengindikasikan masih ada kekhawatiran kejatuhan ekonomi akibat virus corona di pasar kredit secara luas," kata Shaun Osborne, chief FX strategist Scotiabank kepada Reuters.

Osborne mengatakan, masalah dasar virus corona perlu ditangani segera. "Saat ini masih terlalu dini," kata dia.

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Irish Times: The Federal Reserve said it would pump trillions of dollars into the financial system in a dramatic response to signs of stress in short-term funding and US Treasury markets.

The US central bank is also making changes to its programme of Treasury purchases to “foster smooth Treasury market functioning”.

For the third time in four days, the Fed’s New York arm announced on Thursday that it will increase the size of its lending in the repo market, where investors borrow cash in exchange for high-quality collateral like Treasuries – this time by multiples of the amounts previously on offer.

The Fed will now offer up at least $500 billion (€447 billion) in three-month loans, beginning immediately, with another $500 billion of three-month loans on Friday. It said it would also provide a $500 billion one-month loan on Friday that settles on the same day.

Three-month loans

Beginning next week, the Fed said it would offer both three-month loans for $500 billion and one-month loans for $500 billion on a weekly basis until April 13th.

It said it will alter the composition of its ongoing $60 billion Treasury purchases for the month of March, to “roughly match the maturity composition of Treasury securities outstanding”, answering calls from traders concerned about deteriorating liquidity conditions.

The changes to composition “are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” according to the statement. “Reserve management purchases into the second quarter will continue to be conducted with this maturity allocation. The terms of operations will be adjusted as needed to foster smooth Treasury market functioning and efficient and effective policy implementation.” –

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Comments

TeddyFebruary 2, 2022 at 2:41 AM
Kabar baik!!!

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Relief and stimulus measures essential to stave off recession

Three-month loans

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