In This Edition

Key Takeaways

The UN needs $90bn for coronavirus aid to poor countries. US unemployment claims hit 30m as US deaths surpass 60,000. Record contraction of the Eurozone economies in the first quarter, as European countries release details of reopening plans.

Conditions Updates

A rundown of important global developments in markets, in business, and region-by-region, as well as statistical risk assessments by country and by US state.

Country in Focus: Australia

This week Australia began easing its lockdown as cases appeared mostly under control. The effective response has proven a lifeline for Prime Minister Morrison, who faced dismal approval ratings over his response to the bushfire season. Although the government has taken decisive actions to cushion the impact of economic downturn, the effects of the lockdown, dampened global demand, and potentially souring Chinese relationship will take their toll.

Science Under the Scope: Public Health Experts Urge Caution on Reopening

A lack of robust testing, contact tracing and quarantine procedures is predicted to lead to large spikes in cases with the potential to overwhelm health care facilities as countries reopen their economies.

Industry in Focus: Insurance

In the first several months of 2020, consumer interest in life insurance (as measured by Google search trends) has spiked to the highest levels ever recorded. Somewhat surprisingly, the health insurance sector thus far has forecasted strong profits, as doctors and consumers have been forced to put non-emergency procedures on hold. As the coronavirus situation evolves, the insurance industry will continue to be the shock absorber for society and the economy.

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