Waiting for the Next Historic Number: Global Economy Week Ahead
As the true economic impact of the coronavirus pandemic becomes clear, economists seeing unprecedented data releases on an almost daily basis are gearing up for even worse to come.
In the U.S. and the rest of the world, reports showing historic spikes in joblessness and declines in activity have been accompanied with warnings that even more concerning data will follow once the full impact of the lockdown in much of the world becomes clear.
This week the focus will once again rest on the U.S. labor markets, and the weekly release of jobless claims data that has jumped by almost 10 million across the last two reports. The Federal Reserve and the European Central Bank are also both scheduled to release minutes which may include details of their thought process as they injected waves of emergency stimulus into the economy.
Here’s what happened last week and below is our wrap of what else is coming up in the world economy.
33,264 in U.S.Most new cases today
-26% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.138 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23