U.S. Coronavirus – B.O.E Cuts 50 BPS

DAILY BRIEF— U.S. President Donald Trump is said to have told Republican senators that he wants a payroll tax holiday, designed to help ease the burden on household amid the virus outbreak, to run through the November election.It has been a wild ride in oil markets the past two days. It’s unlikely to stop any time soon. Saudi Arabia is hiking its output significantly, so much so it needs new supertankers to carry it, and Russia is doing the same.The U.K. has not announced a Budget since late 2018, delayed by Brexit deadlines and general elections, and the one that will arrive on Wednesday comes with great expectations.