Konto Polo

Senin, 01 Juni 2020

What you need to know about COVID-19 in Ottawa on Monday, June 1 - CBC.ca

Recent developments:

What's happening today?

Ottawa's transit commission will consider a report detailing OC Transpo's plan to deal with increased ridership as the economy slowly reopens but while COVID-19 remains a threat.

Part of that plan is a proposal to make mask use compulsory. Advocates and legal experts are questioning the scope of the policy and how it would be enforced.

Meanwhile, the LRT is in the midst of a four-day shutdown for testing and maintenance that will wrap up Wednesday.

Dentists, physiotherapists, massage therapists and other private health-care services outside the greater Montreal area and Joliette region of Quebec can reopen today.

The same goes for personal care services like hairdressers and barbers. As a result, some Gatineau businesses are expecting more than a few Ontario licence plates in their parking lots.

Backcountry camping at Ontario parks and recreational camping on Crown lands can resume today.

All lock stations along the Rideau Canal except for Jones Falls and Kingston Mills will reopen today. Visitors can access lockstation grounds, boat launches and mooring areas, and make use of day-use areas and trails. Public washrooms will be accessible.

Storm clouds are seen past people paddling inflatable boats at Mooney's Bay in Ottawa, on Sunday, May 31, 2020. (Justin Tang/Canadian Press)

How many cases are there?

There have been 1,951 confirmed cases of COVID-19 in Ottawa and 244 deaths linked to the respiratory illness. There are more than 3,100 known cases across eastern Ontario and western Quebec.

Nearly 2,400 people in the region have recovered from COVID-19.

The deaths of 50 people in Leeds, Grenville and Lanark counties and 35 more in the wider region have also been tied to the coronavirus.

Confirmed cases are just a snapshot because, until recently, not everyone could be tested in Ontario. Also, not everyone with COVID-19 will go to get tested (potentially because they are asymptomatic) and results take time to process.

What's open and closed?

Ontario is in "stage one" of its three-stage reopening plan. When ready, its next stage should bring more offices, outdoor spaces and gatherings back.

On May 31, the farmers market at Lansdowne Park reopened for pre-ordering and pickup-by-appointment. Drive-in movie theatres and batting cages in Ontario also opened Sunday.

In Quebec, malls, campgrounds and Airbnbs, courts and services such as dentist offices and hair salons reopened Monday.

National parks and historic sites across Canada, which includes Rideau Canal lockstations. Backcountry camping at Ontario Parks sites and recreational camping on Crown lands in Ontario are allowed to open Monday.

A customer tries to keep a grasp on their purchases as they wait to pick up an order at a vendor at the Ottawa Farmers' Market at Lansdowne Park, which opened only for online order pickups due to the COVID-19 pandemic, in Ottawa, on Sunday, May 31, 2020. (Justin Tang/Canadian Press)

Many parks are now open with limits, such as not using playground equipment or gathering.

Quebec elementary schools outside Montreal are open. Schools for its older students and all Ontario schools are closed through summer.

The closure of overnight camping and some day-use activities at provincial parks and conservation reserves will continue until at least June 14.

Post-secondary schools are moving toward more online classes this fall, with Ontario promising a fall plan for younger students by July and Quebec hoping to have students back in class full-time.

Circles are painted on the grass in one section of Mooney's Bay Park in Ottawa, to encourage people to maintain physical distancing, on Sunday, May 31, 2020. (Justin Tang/Canadian Press)

Distancing and isolating

The coronavirus primarily spreads through droplets when an infected person coughs or sneezes. People don't need to have symptoms to be contagious.

That means physical distancing measures such as working from home and staying at least two metres away from anyone they don't live with.

Ottawa Public Health now wants people to think about how to safely do certain things and recommends people wear a fabric or non-medical mask when they can't always stay two metres from strangers, such as at a grocery store.

WATCH: How to buy or sell a home during the pandemic

The COVID-19 pandemic has changed what happens when you buy or sell a house. Andrew Chang walks through what’s changed in the real estate game. 1:48

Anyone who has symptoms or travelled recently outside Canada must self-isolate for at least 14 days.

Specifically in Ottawa, anyone waiting for a COVID-19 test result must self-isolate at least until they know the result.

The same goes for anyone in Ontario who's been in contact with someone who's tested positive or is presumed to have COVID-19.

People 70 and older or with compromised immune systems or underlying health conditions should also self-isolate.

What are the symptoms of COVID-19?

COVID-19 can range from a cold-like illness to a severe lung infection, with common symptoms including fever, a dry cough, vomiting and the loss of taste or smell.

Less common symptoms include chills, headaches and pink eye. The Ontario government says in rare cases, children can develop a rash.

If you have severe symptoms, call 911.

A person holds a sign at before the start of a vigil for Regis Korchinski-Paquet of Toronto, who died on Wednesday after falling from her apartment balcony while police were in the home, at Dundonald Park in Ottawa, on Sunday, May 31, 2020. (Justin Tang/Canadian Press)

Where to get tested

In eastern Ontario:

In Ottawa any resident who feels they need a test, even if they are not showing symptoms, can now be tested.

Tests are done at the Brewer Arena from 9 a.m. until 3:30 p.m., seven days a week, or at 595 Moodie Dr. and 1485 Heron Rd. those same hours on weekdays.

Testing has also expanded for local residents and employees who work in the Eastern Ontario Health Unit area.

There is a drive-thru test centre in Casselman and assessment centres in Hawkesbury and Winchester that don't require people to call ahead and others in Rockland, and Cornwall that require an appointment.

In Kingston, the assessment centre at the Kingston Memorial Centre is open Monday to Friday from 10 a.m. to 6 p.m. and on weekends from 9 a.m. to 12:30 p.m. for anyone with symptoms.

WATCH: Makeshift home offices taking physical toll

Many people working in makeshift offices at home and sitting in awkward positions could face an increased risk of injuries, including neck and back problems, experts say. 2:01

Napanee's test centre is open 9 a.m. to 3 p.m. daily for people who call for an appointment.

The Leeds, Grenville and Lanark unit asks you to get tested if you have a symptom or concerns about exposure.

It has a walk-in site in Brockville open seven days a week at the Memorial Centre and testing sites in Smiths Falls and Almonte which require an appointment.

The public health unit in the Belleville area is asking people to call it at 613-966-5500, their family doctor or Telehealth if they have symptoms or questions.

If you have no symptoms, you can arrange a test in Bancroft, Belleville or Trenton by calling the centre, or in Picton by texting 613-813-6864. You can also call Picton's number as a backup.

You may also qualify for a home test.

Renfrew County is also providing home testing under some circumstances. Residents without access to a family doctor can call 1-844-727-6404 if they have health questions, COVID-19-related or not.

If you're concerned about the coronavirus, take the self-assessment.

WATCH: Calls for improved staffing, training, pay at nursing homes

The COVID-19 pandemic has revealed how badly Ontario’s long-term care system needs an overhaul, with a growing number of workers, experts and families calling for changes in everything from staffing levels to better pay and training. 1:49

In western Quebec:

Outaouais residents should call 819-644-4545 if they have symptoms. They could end up being referred to Gatineau's testing centre.

First Nations:

Local communities have declared states of emergency, put in a curfew or both.

Akwesasne has opened a mobile COVID-19 test site available by appointment only. Anyone returning to Akwesasne who's been farther than 80 kilometres away is asked to self-isolate for 14 days.

Anyone in Tyendinaga who has symptoms can call 613-967-3603 to talk to a nurse.

Pikwakanagan's council planned to let businesses reopen as of May 29. Kitigan Zibi is keeping schools closed through the summer.

For more information

Let's block ads! (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiZmh0dHBzOi8vd3d3LmNiYy5jYS9uZXdzL2NhbmFkYS9vdHRhd2EvY292aWQxOS1jb3JvbmF2aXJ1cy1vdHRhd2Etc3ltcHRvbXMtaW5mb3JtYXRpb24tanVuZS0xLTEuNTU5MjY1NtIBIGh0dHBzOi8vd3d3LmNiYy5jYS9hbXAvMS41NTkyNjU2?oc=5

2020-06-01 14:35:00Z
52780820938016

Global stocks buoyant, dollar slips as economies start to unlock - Reuters

NEW YORK (Reuters) - World stocks hovered near three-month highs and safe-haven government bonds inched lower as signs that Europe’s economic downturn has bottomed boosted risk appetite, despite worries over violent protests in the United States and unease over Washington’s standoff with Beijing.

President Donald Trump left a trade deal with China intact Friday despite moving to end Washington’s special treatment for Hong Kong in retaliation for Beijing seeking to impose new security legislation on the city.

China has asked state-owned firms to halt purchases of soybeans and pork from the United States in response, two people familiar with the matter said.

“The Trump rhetoric against China and trade impediments against Hong Kong could have been a lot worse, hence the performance of those markets this morning, which has helped the risk backdrop,” said Chris Bailey, European strategist at wealth manager Raymond James.

MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 0.29% following broad gains in Asia and Europe. The index .MIWD00000PUS is up more than 35% from its March lows.

In morning trading on Wall Street, the Dow Jones Industrial Average .DJI fell 114.39 points, or 0.45%, to 25,268.72, the S&P 500 .SPX lost 11.9 points, or 0.39%, to 3,032.41 and the Nasdaq Composite .IXIC dropped 24.20 points, or 0.25%, to 9,465.68.

Signs of a rebound from the global coronavirus lockdown helped bolster global equities and push safe haven assets lower. France’s manufacturing activity rose in May as the country began to emerge from a nearly two-month coronavirus lockdown, pulling the sector out of a nosedive that had seen activity hit a record low a month earlier, a survey showed on Monday.

An official business survey from China showed its factory activity grew at a slower pace in May but momentum in the services and construction sectors quickened.

Benchmark 10-year notes US10YT=RR last fell 10/32 in price to yield 0.677%, from 0.644% late on Friday.

Bond investors suspect economies will need massive amounts of central bank support long after they reopen and that is keeping yields super low even as governments borrow much more.

FILE PHOTO - The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February March 9, 2020. REUTERS/Staff

“Current unemployment numbers go far beyond what has been experienced in any post-war recession,” Barclays economist Christian Keller wrote in a note. “To the extent that some sectors may never return to pre-pandemic business-as-usual.”

A weekend of violent U.S. protests over race and policing could present another setback for the economy which was only just emerging from the steepest economic downturn since the Great Depression.

Following poor data on spending and trade out on Friday, the Atlanta Federal Reserve estimated economic output could drop a staggering 51% annualized in the second quarter.

The May jobs report due out on Friday is forecast to show the unemployment rate surged to 19.8%, smashing April’s record 14.7%. Payrolls are expected to drop by 7.4 million, on top of the 20.5 million jobs lost the previous month.

In commodity markets, gold added 0.5% to $1,735 an ounce XAU=. [GOL/]

Tensions between the U.S. and China weighed on oil prices. U.S. crude CLc1 recently fell 2.73% to $34.52 per barrel and Brent LCOc1 was at $37.70, down 0.37% on the day.

FILE PHOTO: A passerby wearing a protective face mask, following an outbreak of the coronavirus, walks past an electronic board showing the graphs of the recent movements of Japan's Nikkei share average outside a brokerage in Tokyo, Japan March 6, 2020. REUTERS/Issei Kato

(Graphic: Global assets - tmsnrt.rs/2jvdmXl)

(Graphic: Global currencies vs. dollar - tmsnrt.rs/2egbfVh)

(Graphic: Emerging markets - tmsnrt.rs/2ihRugV)

(Graphic: MSCI All Country Wolrd Index Market Cap - tmsnrt.rs/2EmTD6j)

Reporting by David Randall; Editing by Nick Zieminski

Our Standards:The Thomson Reuters Trust Principles.

Let's block ads! (Why?)

https://news.google.com/__i/rss/rd/articles/CBMif2h0dHBzOi8vd3d3LnJldXRlcnMuY29tL2FydGljbGUvdXMtZ2xvYmFsLW1hcmtldHMvZ2xvYmFsLXN0b2Nrcy1idW95YW50LWRvbGxhci1zbGlwcy1hcy1lY29ub21pZXMtc3RhcnQtdG8tdW5sb2NrLWlkVVNLQk4yMzgwV1HSATRodHRwczovL21vYmlsZS5yZXV0ZXJzLmNvbS9hcnRpY2xlL2FtcC9pZFVTS0JOMjM4MFdR?oc=5

2020-06-01 14:25:07Z
52780825800907

Global stocks buoyant, dollar slips as economies start to unlock - Reuters

LONDON (Reuters) - World stocks hovered near three-month highs and the dollar was flat on Monday as optimism over economies opening up again boosted risk appetite, despite worries over riots in the United States and unease over Washington’s standoff with Beijing.

Having risen a whopping 35% from a late March trough, stocks looked set to kick off June with more gains. The MSCI world stocks index .MIWD00000PUS has recovered two-thirds of the losses it incurred in the aftermath of the coronavirus outbreak.

Investors were also relieved that President Donald Trump left a trade deal with China intact despite moving to end Washington’s special treatment for Hong Kong in retaliation for Beijing seeking to impose new security legislation on the city.

China has asked state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, following Washington’s move over Hong Kong.

In Europe, stock markets were up 0.8% led by virus-hit sectors such as travel & leisure, banks and miners but volumes were subdued as Germany, Switzerland and Austria were closed for holidays.

“The Trump rhetoric against China and trade impediments against Hong Kong could have been a lot worse, hence the performance of those markets this morning, which has helped the risk backdrop for the European open,” said Chris Bailey, European strategist at wealth manager Raymond James.

In Asia, stocks closed higher, led by China on signs that parts of the domestic economy were picking up. Hong Kong .HSI managed to rally 3.4%, while Chinese blue chips .CSI300 put on 2.7%.

An official business survey from China showed its factory activity grew at a slower pace in May but momentum in the services and construction sectors quickened.

Japan's Nikkei .N225 added 0.8% to also reach a three-month peak.

E-Mini futures for the S&P 500 ESc1 however were trading 0.2% lower on simmering U.S.-China tensions.

The safe-haven dollar .DXY, meanwhile, hit an 11-week low dented by risk-on mood among investors and riots in major U.S. cities over race and policing.

“I agree the riots are not good but the perception is that this is a local issue...and the uncertainty has spilled over into a lower dollar,” Bailey added.

FILE PHOTO - The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February March 9, 2020. REUTERS/Staff

The turmoil in the U.S. was a fresh setback for the economy which was only just emerging from a downturn akin to the Great Depression. Following poor data on spending and trade out on Friday, the Atlanta Federal Reserve estimated economic output could drop a staggering 51% annualised in the second quarter.

YEARS, NOT MONTHS

Bond investors suspect economies will need massive amounts of central bank support long after they reopen and that is keeping yields super low even as governments borrow much more.

Yields on U.S. 10-year notes US10YT=RR were trading steady at 0.66% having recovered from a blip up to 0.74% last month when the market absorbed a tidal wave of new issuance.

German bund yields DE10YT=RR were stuck near minus 0.42%.

In currency markets, the euro was last up at $1.1114 EUR=, after climbing 1.8% last week. The Australian dollar AUD=D3 hit a four-month high.

Much of the dollar’s recent decline has come against the euro which has been boosted by plans for an EU stimulus package. The European Central Bank is also widely expected to say on Thursday that it will raise its asset buying by around 500 billion euros to 1.25 trillion.

In commodity markets, gold added 0.5% to $1,735 an ounce XAU=. [GOL/]

Brent crude LCOc1 futures were off 8 cents at $37.76 a barrel, while U.S. crude CLc1 fell 35 cents to $35.14. [O/R]

Reporting by Thyagaraju Adinarayan in London, additional reporting by Wayne Cole in Sydney, editing by Ed Osmond and Hugh Lawson

Our Standards:The Thomson Reuters Trust Principles.

Let's block ads! (Why?)

https://news.google.com/__i/rss/rd/articles/CBMigQFodHRwczovL3d3dy5yZXV0ZXJzLmNvbS9hcnRpY2xlL3VzLWdsb2JhbC1tYXJrZXRzL2dsb2JhbC1zdG9ja3Mtc2NhbGUtdGhyZWUtbW9udGgtcGVhay1kb2xsYXItc2Fncy1vbi1yZW9wZW5pbmctam95LWlkVVNLQk4yMzgwV1HSATRodHRwczovL21vYmlsZS5yZXV0ZXJzLmNvbS9hcnRpY2xlL2FtcC9pZFVTS0JOMjM4MFdR?oc=5

2020-06-01 11:55:43Z
CAIiEAQ4Nv1CJp7k9ig60IKfTT8qFQgEKg0IACoGCAowt6AMMLAmMJSCDg

China asks state firms to halt purchases of U.S. soybeans, pork, sources say - CNBC

Workers transfer sacks of animal feed made from soybeans, which are imported from Brazil, at a port on August 6, 2018 in Nantong, Jiangsu Province of China.

VCG | Getty Images

China has asked its state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special U.S. treatment for Hong Kong to punish Beijing.

China could expand the order to include additional U.S. farm goods if Washington took further action, the people said.

Let's block ads! (Why?)

https://news.google.com/__i/rss/rd/articles/CBMibWh0dHBzOi8vd3d3LmNuYmMuY29tLzIwMjAvMDYvMDEvY2hpbmEtYXNrcy1zdGF0ZS1maXJtcy10by1oYWx0LXB1cmNoYXNlcy1vZi11cy1zb3liZWFucy1wb3JrLXNvdXJjZXMtc2F5Lmh0bWzSAXFodHRwczovL3d3dy5jbmJjLmNvbS9hbXAvMjAyMC8wNi8wMS9jaGluYS1hc2tzLXN0YXRlLWZpcm1zLXRvLWhhbHQtcHVyY2hhc2VzLW9mLXVzLXNveWJlYW5zLXBvcmstc291cmNlcy1zYXkuaHRtbA?oc=5

2020-06-01 11:33:00Z
52780825688346

U.S. Futures Drop on China Pausing Some Imports: Markets Wrap - Yahoo Canada Finance

(Bloomberg) -- U.S. stock-index futures fell after Chinese officials told agriculture companies to pause imports of some American farm goods. European shares climbed with the euro.

Contracts on the S&P 500 and the Nasdaq 100 gauges slid after Bloomberg reported that state-owned traders Cofco and Sinograin were ordered to suspend purchases. It’s the latest sign that the phase-one trade deal is in jeopardy amid a standoff between the two countries.

“There is no reason to expect these tensions to ease anytime soon,” Marc Ostwald, chief economist and global strategist at ADM Investor Services International in London, in comments to Bloomberg. “This will continue to provide a flow of headlines to trip up market optimism, and it suggests that volatility will remain very elevated.”

Markets seemed relatively unfazed by the violent protests over the weekend that spread from New York to Chicago. Travel companies and banks led gains in the Stoxx Europe 600 Index, and copper advanced in London trading. Germany and Switzerland were closed for a holiday.

A gauge of the dollar stayed near its weakest level since March. Asia’s session saw more risk-on sentiment. U.S. President Donald Trump on Friday stopped short of specifying tough sanctions over China’s new national security law for Hong Kong.

Here are some key events coming up:

Australia’s central bank is expected to keep its main policy programs unchanged on Tuesday. So too is the case for Canada, which has options to add stimulus but is forecast to stand pat on Wednesday to allow more time to evaluate the progress of policy action.In Europe, the ECB is expected to top up its rescue program with an additional 500 billion euros of asset purchases. Anything less than an expansion at Thursday’s meeting would be a big shock, Bloomberg Economics said.The U.S. labor market report on Friday will probably show American unemployment soared to 19.6% in May, the highest since the 1930s.

These are the main moves in markets:

Stocks

Futures on the S&P 500 Index declined 0.2% as of 10:46 a.m. London time.The Stoxx Europe 600 Index rose 0.7%.Hong Kong’s Hang Seng Index climbed 3.4%.The MSCI Asia Pacific Index climbed 1.6%.

Currencies

The Bloomberg Dollar Spot Index dipped 0.3%.The euro gained 0.1% to $1.1116.The British pound increased 0.4% to $1.2397.The Japanese yen strengthened 0.2% to 107.60 per dollar.The Australian dollar jumped 1% to $0.673.

Bonds

The yield on 10-year Treasuries gained one basis point to 0.66%.Germany’s 10-year yield climbed three basis points to -0.42%.Britain’s 10-year yield rose two basis points to 0.206%.

Commodities

West Texas Intermediate crude decreased 0.8% to $35.21 a barrel.Gold strengthened 0.3% to $1,735.95 an ounce.LME copper rose 0.5% to $5,403.50 per metric ton.

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

Let's block ads! (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiSmh0dHBzOi8vY2EuZmluYW5jZS55YWhvby5jb20vbmV3cy95ZW4tZWRnZXMtYW1pZC11LXByb3Rlc3RzLTIxMTIzMDc5NC5odG1s0gFSaHR0cHM6Ly9jYS5maW5hbmNlLnlhaG9vLmNvbS9hbXBodG1sL25ld3MveWVuLWVkZ2VzLWFtaWQtdS1wcm90ZXN0cy0yMTEyMzA3OTQuaHRtbA?oc=5

2020-06-01 09:57:00Z
52780825688346

U.S. Futures Drop on China Stopping Some Imports: Markets Wrap - Yahoo Canada Finance

(Bloomberg) -- U.S. stock futures turned lower while European shares held onto modest gains after Chinese officials told agriculture companies to pause imports of some farm goods. Treasuries erased their earlier declines.

State-owned traders Cofco and Sinograin were ordered to suspend purchases, according to a person familiar with the matter. The move raises the risk of heightening tensions between to the two countries and is the latest sign that the phase-one trade deal is in jeopardy.

European equities climbed as investors focused on signs of economic recovery from the pandemic, with travel companies and banks leading gains in the Stoxx 600 Index. The dollar slid to its lowest since March.

Asia’s session saw more risk-on sentiment. U.S. President Donald Trump on Friday stopped short of specifying tough sanctions over China’s new national security law for Hong Kong.

Here are some key events coming up:

These are the main moves in markets:

Stocks

The Stoxx Europe 600 Index rose 0.6% as of 9:37 a.m. London time.Futures on the S&P 500 Index declined 0.4%.Hong Kong’s Hang Seng Index increased 3.4%.The MSCI Asia Pacific Index climbed 1.7%.

Currencies

The Bloomberg Dollar Spot Index dipped 0.4%.The euro gained 0.3% to $1.1134.The British pound increased 0.5% to $1.2401.The Japanese yen strengthened 0.3% to 107.47 per dollar.The Australian dollar jumped 1% to $0.674.

Bonds

The yield on 10-year Treasuries gained less than one basis point to 0.66%.Germany’s 10-year yield climbed two basis points to -0.42%.Britain’s 10-year yield rose one basis point to 0.197%.

Commodities

West Texas Intermediate crude decreased 0.3% to $35.38 a barrel.Gold strengthened 0.5% to $1,738.60 an ounce.Iron ore gained 0.1% to $97.25 per metric ton.

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

Let's block ads! (Why?)

Asia stocks reach 3-month peaks, resilient to U.S. riots - Reuters

SYDNEY/HONG KONG (Reuters) - Asian shares advanced to three-month highs on Monday as progress on re-opening economies helped offset jitters over riots in U.S. cities and unease over Washington’s power struggle with Beijing.

There was also relief that while President Donald Trump began the process of ending special U.S. treatment for Hong Kong to punish China, he left their trade deal intact.

“With specific and verifiable measures against China appearing to be weak, markets may draw hollow consolation that the U.S. is treading carefully,” said analysts at Mizuho in a note.

After a cautious start Asian markets were led higher by China on signs parts of the domestic economy were picking up. Hong Kong .HSI managed to rally 3.3%, while Chinese blue chips .CSI300 put on 2.54%.

An official business survey from China showed its factory activity grew at a slower pace in May but momentum in the services and construction sectors quickened.

“Geopolitical risk can be sufficient to trigger an equity pullback. However, we remain comfortable with our preference for Chinese equities given they tend to be far more sensitive to domestic demand and policy stimulus than global drivers,” said strategists at Standard Chartered Private Banking in a note.

The hopeful signs in China helped lift MSCI's broadest index of Asia-Pacific shares outside Japan 2.45% to its highest since early March. Tokyo's Nikkei .N225 added 0.84% to also reach a three-month peak.

E-Mini futures for the S&P 500 recovered to be flat, having been up 0.12% in afternoon trade. EUROSTOXX 50 futures firmed 1.48% and FTSE futures 1.3%.

The resilience was notable given major U.S. cities were cleaning up streets strewn with broken glass and burned out cars as curfews failed to stop confrontations between activists and law enforcement.

The turmoil was a fresh setback for the economy which was only just emerging from a downturn akin to the Great Depression. Following poor data on spending and trade out on Friday, the Atlanta Federal Reserve estimated economic output could drop a staggering 51% annualised in the second quarter.

YEARS, NOT MONTHS

“Current unemployment numbers go far beyond what has been experienced in any post-war recession,” wrote Barclays economist Christian Keller in a note.

“To the extent that some sectors may never return to pre-pandemic business-as-usual, labour faces a substantial challenge to reallocate workers,” he added. “Such a process could be a matter of years rather than months or quarters and in the meantime it would weigh on consumer demand.”

Bond investors suspect economies will need massive amounts of central bank support long after they reopen and that is keeping yields super low even as governments borrow much more.

Yields on U.S. 10-year notes were trading steady at 0.66% having recovered from a blip up to 0.74% last month when the market absorbed a tidal wave of new issuance.

The decline in U.S. yields has been a burden for the dollar, but the world’s reserve currency also tends to benefit from safe-haven status to limit the losses.

In afternoon trade, the dollar was 0.3% softer on a basket of peers at 97.923 having touched an 11-week low of 97.944 on Friday. It was also down on the yen at 107.50.

Much of the dollar’s recent decline has come against the euro which has been broadly boosted by plans for an EU stimulus package. The single currency was last up at $1.1143, after climbing 1.8% last week.

Markets are awaiting a meeting of the European Central Bank on Thursday where it is widely expected to raise its asset buying by around 500 billion euros to 1.25 trillion.

In commodity markets, gold added 0.91% to $1,742 an ounce.

Oil prices initially eased on worries about U.S. demand, but found support from reports Russia had no objection to the next meeting of OPEC and its allies being brought forward to June 4 from the following week.

Brent crude futures were off 37 cents at $37.70 a barrel, while U.S. crude fell 31 cents to $35.38.

Editing by Stephen Coates & Simon Cameron-Moore

Our Standards:The Thomson Reuters Trust Principles.

Let's block ads! (Why?)

https://news.google.com/__i/rss/rd/articles/CBMibWh0dHBzOi8vd3d3LnJldXRlcnMuY29tL2FydGljbGUvdXMtZ2xvYmFsLW1hcmtldHMvYXNpYS1jYXV0aW91cy1hcy11cy1yaW90cy13ZWlnaC1vbi1zcC1mdXR1cmVzLWlkVVNLQk4yMzgwV1HSATRodHRwczovL21vYmlsZS5yZXV0ZXJzLmNvbS9hcnRpY2xlL2FtcC9pZFVTS0JOMjM4MFdR?oc=5

2020-06-01 06:34:02Z
CAIiEAQ4Nv1CJp7k9ig60IKfTT8qFQgEKg0IACoGCAowt6AMMLAmMJSCDg