The coronavirus outbreak has set three major macro impulses in motion. They will all have a major impact on commodities, especially the energy sector, over the coming months.

The Federal Reserve is trying to call time on a fire sale of Treasuries by foreign governments and central banks.

International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic.

China’s central bank said yesterday it was cutting the amount of cash that small banks must hold as reserves, releasing around 400bn yuan ($56.38bn) in liquidity to shore up the economy, which has been badly jolted by the coronavirus crisis.

Besieged by the worst turmoil since the Asian financial crisis more than two decades ago, Indonesia has given its central bank unprecedented powers to shield the economy from the fallout of the coronavirus pandemic.

Swissport International AG, the airport ground services firm owned by beleaguered Chinese conglomerate HNA Group Co, hired advisers to review its debt as passenger air traffic grinds to a halt because of coronavirus restrictions.

The fallout from Luckin Coffee Inc’s accounting scandal is spreading far beyond the high-flying Starbucks challenger, with renewed concerns about Chinese corporate governance dragging down stocks across industries and threatening to bring a halt to the country’s overseas initial public offerings.

The federal government of Pakistan has worked out the impact of losses of pandemic Covid-19 virus on some sectors of the national economy and shared the initial assessment that total losses stood at the whopping figure of Rs2.5tn (around $15.6bn).

Key stock markets in Europe, after posting strong gains last week, posted hefty weekly losses going in the weekend, with US stock markets on track to follow suit. In London, the FTSE 100 index closed down 1.4% to 5,406.17 points; Frankfurt

BMW is following other German carmakers in pumping up its financial liquidity to ride out the coronavirus crisis, its chief executive said Friday, as car sales in the auto-mad nation booked their steepest plunge in almost 30 years in March.

The US economy shed 701,000 jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus outbreak shuttered businesses and factories, confirming a recession is underway.

Opec and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an Opec source said after the US president called on producers to stop the market rout caused by the coronavirus pandemic.