As per data from Johns Hopkins University - https://coronavirus.jhu.edu/map.html, there are 340k confirmed cases globally with 14.7k deaths and almost 99k people recovered. In Italy, the number of new daily cases has decreased to 5.6k for the first time in a week. In the US, California issued state wide "stay at home" order. NY ordered 100% of workforce to stay at home. Illinois issued a "shelter in place" order starting Saturday. New Jersey also issued a shutdown of all non-essential businesses. A lockdown now affects approximately one third of all Americans. China announced for the first time since December no new domestically transmitted cases.
Central bank measures
The European Central Bank (ECB) announced a €750Bn Pandemic Emergency Purchase Program (PEPP) targeting the private and public sector until end of 2020. This will take planned purchases for 2020 to over €1Tr. Eligible assets are Greek debt and commercial paper not included in previous programs. The 33% country issuer limit could be lifted if necessary. The Fed launched a program to support money market funds called the Money Market Mutual Fund Liquidity. It will assist money market funds in meeting demands for redemptions. The Fed also announced new swap lines with more central banks to provide USD liquidity. The Bank of England cut rates from 0.25% to 0.1% and increased its bond purchases by GBP200Bn. In Canada, the Central bank cut rates by full percentage point and loosened capital requirements to boost lending.
U.S.: advised people not to congregate in groups of more than 10 and suggests states close schools; on Sunday, the $1.3Tr fiscal package (6.3% of GDP) negotiated by Treasury Secretary Mnuchin and spearheaded by Senator Mitch McConnell (Senate majority leader) was rejected after a 47-47 vote, versus the 60 votes needed to advance the motion.
GERMANY: most public and private venues closed; non-essential services shut; supermarkets open; all people with unexplained respiratory symptoms to be tested; EUR 550Bn available in lending for businesses from German state bank KfW.
ITALY: shut down non-essential industrial lines; non-essential services, schools closed; unnecessary movement banned in a lockdown; testing and tracking only for patients showing symptoms; EUR 25Bn package, including loan guarantees, takeover of Alitalia and funds for businesses and individuals; bans short-selling for 90 days.
SPAIN: national emergency declared; unnecessary movement barred; schools, non-essential services closed; land borders closed, and flights to and from Italy suspended; emergency helpline for people with symptoms; testing for people with serious symptoms; package of EUR200Bn euros to provide loan guarantees to companies, especially smaller businesses, plus a moratorium on tax obligations; delayed mortgage payments for families; EUR 400Bn aid package for tourism industry.
SWITZERLAND: restrictions on travel from high-risk countries; schools, restaurants, bars, entertainment and leisure venues closed; grocery stores, pharmacies and banks open; all public and private events banned; conducting about 2,000 tests a day; pledged CHF 32Bn ($31.4 billion) in support, including funds to prevent layoffs, and emergency loan assistance especially for small- and medium-sized firms.
U.K.: public advised to avoid all non-essential travel overseas, as well as use of public transport, gatherings with friends and family; limiting interaction with others by people over 70; testing to be increased and those with symptoms asked to self-isolate at home for seven days; a pledge of GBP 330Bn ($398Bn) worth of government-backed loans was made for struggling companies; help was announced with home loan costs, airlines and the hospitality industry.
China reported y-o-y drops of -20.5% in retail sales, -13.5% in industrial production and -24.5% in fixed-asset investments in January-February. In the US, initial jobless claims raised 70k to 281k in the week ended 13 March, while there was a big plunge in the Philadelphia Fed’s manufacturing index.