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May 12 2020, 08:05 IST/BST
Yesterday’s (May 11th) data on new vehicles licensed showed new private car sales down 90% in April. Meanwhile, the Federal Reserve Bank of New York (FRBNY) indicated that today it will begin its programme of purchases of exchange-traded funds (ETFs), holding investment grade and US high yield corporate debt. The most striking macro data point was Italian industrial production, down 27% year-on-year (yoy) in March, illustrating the hit from COVID-19.