Next Stop Financial Crisis, Dire Trump, Japan Reinvents: Eco Day

(Bloomberg) -- Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Will the sudden stop in the global economy trigger a financial crisis? All-out support from central banks suggests a tentative ‘no’. That could change rather quickly, Bloomberg Economics says
• The White House’s projections for coronavirus fatalities to extend into the start of the summer will reinforce fears for extended shutdowns that spur deep declines in U.S. output and employment
• Following Donald Trump’s unveiling of $2 trillion in stimulus including cash payments, Japan is revisiting the idea of handouts
• With millions of people being thrown out of work as much of the U.S. economy shuts down, the companies hiring are seeing a boost in interest. Some employers are speeding up interviews and paperwork to put people to work that same day
• Factories around the world suffered one of their grimmest months on record in March, as the coronavirus led to mass shutdowns and wreaked havoc on supply chains
• India kicks off its fiscal year with revenues under severe strain. Its borrowing plan points to volatility ahead, writes Abhishek Gupta
• America’s economic peril from the coronavirus is growing more stark every day, and the $2 trillion stimulus may not deliver a rescue in time for the many small businesses and families
• Germany and Canada are among the world’s major economies most exposed because of their dependence on trade, ING Group says. German companies’ filings for state wage support suggest that about a fifth of the workforce will have its hours reduced
• The Bank of Canada began its first-ever foray into quantitative easing, with the purchase of C$1.0 billion ($703 million) in government bonds
• Europe risks a new sovereign-debt crisis if it don’t match the ECB’s action with a common fiscal response to support the economy
• China has concealed the extent of the coronavirus outbreak in its country, under-reporting both total cases and deaths it’s suffered from the disease, the U.S. intelligence community concluded in a classified report to the White House, according to three U.S. officials

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