French PM Macron: Trump and I preparing new strong initiative on COVID-19 in comings days
|French Prime Minister Macron has crossed the wires and stated that "Trump and I preparing new strong initiative on COVID-19 in comings days."
Key notes
- French President Emmanuel Macron said on Friday that he had a "very good discussion" with US President Donald Trump over the coronavirus crisis.
- The two were preparing a new initiative to combat the pandemic.
- "In response to the COVID-19 crisis, we are preparing with other countries a new strong initiative in the coming days," the French president said on Twitter.
Market implications
The markets are enjoying a sense of optimism from the leaders and are riding the waves of stimulus being pumped into the economy. However, the situation is fluid and the rally in markets could be setting up for failure – depending on the spread of COVID-19 and the time race for a vaccine. Any further signs of the virus returning in China would be a huge negative as the Hubei Province, where the deadly coronavirus first emerged late last year, is to lift travel curbs after two months under lockdown and the population goes back to work despite new 'imported' cases. The experiment will be a template for the rest of the world and financial markets.
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