Although the Federal Open Market Committee will meet March 17 to 18, speculation about a coordinated cut by central banks across the globe before then continues, and experts are debating whether the Fed will cut 25 basis points or 50 basis points.
“This will be another wild week for financial markets, but optimism is growing that central bank intervention will prop up risky assets and that scientists and drug companies are getting closer to developing test treatments and vaccines,” said Edward Moya, senior market analyst at OANDA.
“Investors salivated that the bottom could be near as hopes were growing central banks would deliver a global policy response to contain the economic impact of the coronavirus,” he said.
(Read more: The Bond Buyer)
