The US Fed announces unlimited QE.

The US economy is undergoing a severe contraction.

It’s likely prices will fall further as more countries and regions go into lockdown.

Oil has shot up in price, with equities rising too and there’s a bit more interest in government bonds.

Big falls in equities and oil, as well as widespread selling of government bonds, even gold is being ditched.

The Aussie dollar has fallen below the post GFC low.

Despite extreme measures by the Fed yesterday and the return of QE, markets were far from impressed.

Data highlights the huge toll of Coronavirus countermeasures.

We’ve significantly lowered our global growth forecasts, and in Australia growth slowed confirming a below-trend pace of growth prior to any virus impact.