The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- US private sector payrolls fell by 20.2 million jobs in April, the worst monthly job loss ever, although much of it could prove temporary.
- The futures market is pricing in negative US interest rates by next April, something the Fed has said it wants to avoid; Fed Chair Powell to speak on economy this Wed.
- Eurozone countries are continuing to lift COVID-19 lockdowns cautiously, with Germany showing a slight but worrisome rise in infection rates.
- US consumer debt reached a new high of $14.3 trillion at the end of March 2020, surpassing the previous high of $12.7 trillion in the third quarter of 2008.
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