Trumpy Bear aint got nothin' on President Trump's tweet yesterday "I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea," which appeared to have triggered a rebound in oil markets on the potential for increased tensions in the Middle East. Crude oil closed +19%/$13.78 per barrel today.
https://ihsmarkit.com/research-analy...pril-2020.html
In other news since we dont have a E.U. politics forum. (obviously things are just fine over there) French police were beating uniformed firemen during protests last week and in Paris there was more rioting and things burning again this week.
Europe: A severe recession is unavoidable. The IHS Markit composite PMI™ output index for the eurozone plunged by around 20 points in March, four times the magnitude of the prior record monthly decline at the height of the 2008-09 global financial crisis. Consequently, we now predict the virus-induced recessions this year will be significantly deeper than during 2008-09. The most severe quarter-on-quarter contraction will occur in the second quarter, when eurozone real GDP falls at a quarterly rate of 5.7%. Although they will not prevent deep recessions in the near term, stepped-up fiscal and monetary policy measures can help to avoid a prolonged eurozone downturn by preserving businesses and jobs.