With 31,000 coronavirus cases in the US and rising, the US is now third-placed highest epidemic in the pandemic. As part of a daily press conference, President Donald Trump is currently speaking accompanied by the COVID-19 task force.
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Key comments
- The hidden enemy is a terrible thing that is going on.
- Working with Congress to supports small business and individuals.
- The goal is to get relief as quickly as possible.
- The economy will skyrocket.
- There is pent-up demand.
- We will win the war.
- US President Donald Trump says US marshalling every resource available to fight 'Chinese virus'
- Trump says important that Americans follow federal guidance on social distancing.
- Trump says has approved new york, Washington requests for major disaster declarations; will approve California request soon.
- Trump says US marshalling every resource available to fight 'Chinese virus'.
- Trump says 'we are enduring a great national trial'.
- FEMA administrator Gaynor says US medical ship mercy will be in Los Angeles within a week.
- Trump says favors allowing members of congress to vote from an outside location on temporary basis.
- Trump says he is considering releasing elderly non-violent prisoners from prison.
- Trump says members of congress are close to getting a deal done on stimulus package to stem coronavirus' economic hit.
Vice President Pence
- US Vice President pence says 254,000 Americans have been tested for coronavirus under the federal program; slightly more than 30,000 tested positive; figures exclude local tests.
- Backlog in COVID-19 testing will be gone by middle of the week.
- Says federal guidance is that all commercial labs should prioritize inpatient testing.
Market implications
CBOT 10-year US Treasury bond futures jumped as trading resumed today, with the implied yield falling to 0.67% as economic impact of coronavirus looks more dire. The US dollar is pulling in a bid on safe-haven flows coming within 1 pip of the 103 handle last week. Today, DXY stands in the 102 handle. Meanwhile, US Stock Futures Fell 5% and hit limit down.
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