(09 April 2020)DAILY MARKET BRIEF 1: Fed stands ready to act more.

<p>Equities in the New York gained another 3% on Wednesday with the Federal Reserve (Fed) meeting minutes showing that the bank is ready for a ‘forceful response’ amid ‘all participants viewed the near-term US economic outlook as having deteriorated sharply in recent weeks and having become profoundly uncertain’. The Fed, that has extended its monetary support to unprecedented levels for bond and credit markets, may pull out more of its magic hat such as additional measures to support the credit flow to households and small businesses. Meanwhile news of more job cuts creep in. This time, Japanese large carmakers said they consider stopping paying thousands of people employed by temporary agencies, which should add up to the skyrocketing jobless numbers in April. Today’s US jobless claims data could confirm a rise of above 5 million last week, following an almost 10 million increase over the past two weeks. Else, the University of Michigan’s is expected to fall to 75 in April, from 89. 1 p</p>