Via Reuters  
This is a reaction piece to the poor German trade balance out earlier today.  
See here.
It looks like a hard slog for German trade to bounce back after its latest blow via COVID-19. 

Borrowing costs to be managed
Gov’ts around the world are now massively ramping up their levels of borrowing to manage the COVID-19 crisis. This borrowing is going to extend beyond the short ends of the yield curves, so central banks are not going to want to see borrowing costs for 10 years and beyond start moving

European FX news 
– Post-links Paragraph Text Here, don’t forget an image.
Markets: 
The markets have taken an understandable breather post NFP and ahead of the FOMC on Wednesday. Will the Fed attempt yield curve control to keep borrowing costs down for companies or with they allow the Treasury spike to potentially move higher? That will be the

Via Reuters 
Roughly 15% of workforce. Most of these job cuts to be by year end.
 Sad news. 
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Via Bloomberg
A point made by Bloomberg’s markets live blog that the CHF’s weakness is corresponding wih the bear steepening in global curves, with the increase in German yields particularly strengthening the Euro against other crosses. However, MLIVE blog make a case the longer end of global yield curves may be getting too cheap. The 30

The Fed has executed the pump; watch out for the dump
The Federal Reserve decision is on June 10 and it’s shaping up to be a bigger event than anticipated a week ago because of surprising strength in jobs and equity markets.

OPEC+ endorses one-month extension
OPEC+ agreed today to extend record oil production until the end of July.
Iraq had been holding up the deal but agreed to make up for overproduction in the previous period. Nigeria agreed to a similar proposal.

UK Chancellor Sunak
The London Financial Times is reporting that UK Chancellor of the Exchequer Sunak  is reportedly delaying is stimulus plan until the autumn.  The expectations for an emergency sellers budget have been lowered.