Moody’s said the forecast is underpinned by the expectation of recessions in many large economies, following the unprecedented turmoil in the financial markets caused by three shocks in March 2020. — AFP pic
“Firstly, the Covid-19 emerged as a pandemic, spreading more widely and rapidly than previously expected, posing a substantial threat to the global economy.“Thirdly, financial conditions tightened severely as asset prices fell sharply in both the equity and fixed income markets,” it said in a report today.
“We further assume that the US unemployment rate will jump to 8.7 per cent in Q2 2020 from 3.8 per cent in Q1 2020, before easing to six per cent- seven per cent in the subsequent three quarters. Meanwhile Moody's also predicted the virus will persist into 2021 and create wider and deeper economic disruptions.
“Under such a scenario, the global speculative-grade default rate will rise to 16.3 per cent by the end of March 2021,” it said.
No shit!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EPF grants extension for April 2020 contribution payment date | Malay MailKUALA LUMPUR, April 13 — The Employees Provident Fund (EPF) has extended the date for employers to remit their mandatory contribution for the salary month of March 2020. In a statement, it said that the revised period is now April 15 to April 24, 2020. “In light of the ongoing movement control...
Source: malaymail - 🏆 1. / 86 Read more »
Sesi matrikulasi 2019/2020 batal, umum Kementerian Pendidikan | The Malaysian InsightPelajar terlibat akan guna keputusan penilaian berterusan untuk kemasukan ke IPT sesi 2020/2021. mmarnasir Untung wehh paka carrymark jah..carrymark sep kito gepo..final jah ciduk sikit..ko guano faresmxhd hahahah
Source: msianinsight - 🏆 8. / 63 Read more »
Education Ministry cancels 2019/2020 matriculation session | The Malaysian InsightAssessment results will instead be considered for entry to the 2020/2021 session.
Source: msianinsight - 🏆 8. / 63 Read more »
EPF extends April 2020 employers contribution payment dateKUALA LUMPUR: The Employees Provident Fund (EPF) has extended the date for employers to remit their mandatory contribution for the salary month of Mar...
Source: theSundaily - 🏆 25. / 51 Read more »
MH2664 passengers on March 26 flight urged to contact health authorityCORONAVIRUS | The message by Tawau Health Office goes especially to those who were seated between line 18 and 24. Tu diaaaa. Laaaggiiii jillliyana Buat hal diaorg nie
Source: malaysiakini - 🏆 20. / 51 Read more »
Trump says when to reopen US economy ‘biggest decision’ of presidency | Malay MailWASHINGTON, April 11 — President Donald Trump on Friday said his decision on when to reopen the US economy, shuttered due to the coronavirus pandemic, will be the toughest he has ever taken. “I’m going to have to make a decision and I only hope to God that it’s the right decision. But I...
Source: malaymail - 🏆 1. / 86 Read more »