Markets lose hope despite Fed intervention

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By Lewis McLellan, Sam Kerr, Tyler Davies
16 Mar 2020

An extraordinary demonstration of support from the US Federal Reserve over the weekend has done nothing to lift investors' spirits, with fears about the economic consequences of Covid-19 showing through in equities, credit and even the rates market on Monday morning.

The Fed surprised market participants on Sunday, when it slashed its target for the Federal Funds rate by a further 100bp to within a range 0%-0.25%.

Fed chair Jerome Powell also unveiled a huge package of monetary stimulus, which included plans to buy up to $700bn of assets through ...

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