Global investors are making the best of purchasing opportunities to prepare for the moves being made by policymakers to coordinate and prop up economies due to the devastating impact of the ongoing coronavirus pandemic.
As has been made public, G-7 finance ministers and central bank officials are set to hold a teleconference to discuss the issue on Tuesday. US Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell are expected to lead a conference which is to take place right before Wall Street opens. Also attending this meeting, are Bank of Japan Governor Haruhiko Kuroda and European Central Bank President Christine Lagarde, amongst others.
Furthermore, CEO of deVere Group, Nigel Green notes:
“This teleconference between G-7 finance ministers and central bankers will likely provide some of the reassurance they seek. Many investors will be seeking to buy ahead of any potential measures aimed at cushioning the coronavirus blow kicking in, in order to take advantage of the current lower entry points and, therefore, the opportunities, while reducing risk at the same time.”
Concluding his observation, he also added:
“Central banks and finance ministers of the G7 discussing an action plan to take on the far-reaching impact of coronavirus will buoy investors. Many will be seeking to increase their exposure to the markets ahead of the implementation of any measures that are rolled out as a result of this conversation.”
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