US FED commits to unlimited stimulus to fight corona slowdown
The US Federal Reserve has stunned markets with a commitment to providing unlimited stimulus in the form of $600bn in asset purchases. What surprised markets was the commitment to buy BBB rated debt and even corporate debt ETF's and asset backed securities. This is an unprecedented level of monetary stimulus which has never before been seen in capital markets. The announcement prompted the S&P to rally into the green and force the dollar to give back some of its pre-market gains.