FT News Briefing Investors fear US virus toll, MLB virus scare, European bank earnings
Jul 28, 2020
Senate Republicans propose a $1 trillion stimulus plan, cutting unemployment benefits as the dollar hits a two-year low due to COVID-19 concerns. Meanwhile, Major League Baseball faces cancellations after a virus outbreak grips the Miami Marlins. The impact on European banks is scrutinized, revealing looming loan losses and dividend bans that may threaten their stability. Experts discuss how these challenges could reshape banking strategies and recovery efforts in a tumultuous economic environment.
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Stimulus and Dollar
- Economists worry that delayed stimulus will hinder U.S. recovery.
- The dollar weakened due to rising virus cases and reopening concerns.
Gold's Record High
- Gold hit a record high due to investors seeking safe havens.
- This is because gold isn't tied to the U.S. economic recovery like the dollar.
Fed's Impact on Dollar
- The Fed's aggressive easing is a key reason for the dollar's decline.
- Investors are watching to see if the Fed will continue easing or announce new stimulus.