Daily European Opening News - 22nd May 2020.

5/22/2020 11:23:00 AM
  • Asian indices weakened as markets digested today's key events including the BoJ off-schedule meeting and start of China's NPC
  • China omitted setting a GDP growth target for this year due to coronavirus, as well as uncertainties surrounding economy and trade
  • China's draft Hong Kong legislation stated that Hong Kong should finish enacting as soon as possible the regulations in basic law regarding national security
  • US Senators are reportedly introducing a bipartisan bill that would sanction Chinese party officials and entities who enforce the new national-security laws in Hong Kong
  • BoJ announced new measure to boost lending to small and mid-sized businesses impacted by the coronavirus, as expected
  • RBI cut the Repurchase Rate by 40bps to 4.00% and Reverse Repo Rate by 40bps to 3.35% in an unscheduled meeting
  • Fed’s Clarida suggested that Yield Curve Control is a natural complement to calendar based forward guidance
  • US President Trump stated he will not close the country if a second coronavirus wave hits
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