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Coronavirus: Winnipeg garden centre owner says customers stressed as economy reopens – Globalnews.ca

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As Manitoba enters its third week of reopening the economy, one local garden centre owner says her customers are not taking the new social distancing measures well.

The staff at Shelmerdine’s on Roblin Boulevard have been experiencing extreme negativity and rudeness from customers recently.

“It kind of caught us off guard,” said co-owner Nicole Bent. “Plants are proven to reduce stress and anxiety, so we were expecting the exact opposite reaction.”


READ MORE:
More time at home means more time for gardening: Winnipeg nursery owner

Bent says the incidents have been happening consistently since the business re-opened to customers on April 18. She chalks it up to the overall stress caused by the COVID-19 pandemic.

“I don’t think people are inherently mean,” she said. “We’ve been pushed to our limits as human beings and this pent up stress is coming out. Unfortunately, it’s at our cashiers who are high school students working their first jobs — jobs that other people won’t do.”

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One complaint said that Bent had been smiling “too wide” while ringing up a customer. She says she doesn’t hold any ill will towards her customers and hopes that gardening will help reduce their stress.

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Bent believes this trend is happening across all retail because of the new social distancing measures. “As people come out of hiding, they realize it’s a different world now,” she said, “and not everyone is good at dealing with change.”

© 2020 Global News, a division of Corus Entertainment Inc.

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Bond Traders Glimpse Yields' Liftoff Potential as Economy Wakens – BNNBloomberg.ca

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(Bloomberg) — Investors in the world’s biggest bond market are starting to see what the other side of America’s worst-ever economic downturn could mean for their portfolios.

With more U.S. regions gradually reopening and investor sentiment picking up, the Treasuries yield curve from 5 to 30 years ended May close to the steepest since the height of the virus-fueled market panic more than two months ago.

Traders are betting short-to-medium term rates will be anchored by Federal Reserve stimulus, including potential steps such as capping yields. Meanwhile, they see scope for higher longer-maturity yields amid signs that the most dire economic reports may soon be in the rear-view mirror. Data suggesting the labor market was beginning to rebound last month could cushion the blow from this week’s labor report, which is forecast to show the highest jobless rate since the Great Depression.

“We are going to get the last of the big job-shedding numbers, and that will be important context to help investors judge the depth of the contraction, and what the process of coming out of it will look like,” said Ian Lyngen, a strategist at BMO Capital Markets. “The steepening trade is going to be thematic over the course of the next 12 to 18 months.”

The gap between 5- and 30-year yields surged to end last week at 110 basis points, touching the widest since mid-March. Benchmark 10-year yields were barely changed on the week, ending at around 0.65%.

Last week delivered a reminder of what could limit the upside in yields, with U.S. President Donald Trump intensifying his confrontation with China on Friday. An escalation of tensions between the world’s two biggest economies threatens to curb demand for risky assets and bolster the appetite for Treasuries.

There’s also the obvious uncertainty over the coronavirus pandemic’s trajectory and the risk of a second wave of infections. Fed Chair Jerome Powell warned on Friday that a full economic recovery “will really depend on people being confident that it’s safe to go out.”

But green shoots are emerging. Continuing jobless claims fell in the most recent week, the first decline during the pandemic. And St. Louis Fed President James Bullard said the unemployment rate could fall below 10% by December. Data this week are forecast to show it reached 19.6% in May, a level unseen since the Depression.

Even so, bond strategists are coalescing round the view that the Fed later this year will implement a policy of yield-curve control — partly as a way to reinforce guidance that it will keep its main policy rate low for an extended period. The consensus expectation revolves around capping yields on maturities from two to five years.

Although the Fed is about to slow its Treasuries buying again, investors will get a reprieve on the issuance front this week, with only bills on the auction docket. So any move toward further steepening in the days ahead could be telling.

“It would signal the curve may be steepening more so for economic reasons,” said Chris Ahrens, a strategist at Stifel Nicolaus & Co. “The long end seems to be pricing that we are getting to the worst of the bottoming of the economy.”

What to Watch

  • Friday’s release of May jobs data is the focus for the economic calendar:
    • June 1: Markit U.S. manufacturing PMI; construction spending; ISM manufacturing
    • June 2: Wards vehicle sales
    • June 3: MBA mortgage applications; ADP employment; Markit U.S. services PMI; factory orders; durable goods; ISM non-manufacturing
    • June 4: Challenger job cuts; trade balance; nonfarm productivity; jobless claims; Bloomberg consumer comfort
    • June 5: Nonfarm payrolls; consumer credit
  • The Fed calendar is empty before the June 10 policy decision
  • Auction calendar:
    • June 1: 13-, 26-week bills
    • June 2: $40 billion 119-day cash-management bill; $65 billion 42-day CMB
    • June 4: 4-, 8-week bills

©2020 Bloomberg L.P.

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People more important than the economy, pope says about Covid crisis – The Journal Pioneer

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By Philip Pullella

VATICAN CITY (Reuters) – Pope Francis said on Sunday that people are more important than the economy, as countries decide how quickly to reopen their countries from coronavirus lockdowns.

Francis made his comments, departing from a prepared script, at the first noon address from his window overlooking St. Peter’s Square in three months as Italy’s lockdown drew to an end.

“Healing people, not saving (money) to help the economy (is important), healing people, who are more important than the economy,” Francis said.

“We people are temples of the Holy Spirit, the economy is not,” he said.

Francis did not mention any countries. Many governments are deciding whether to reopen their economies to save jobs and living standards, or whether to maintain lockdowns until they are sure the virus is fully under control.

The pope’s words were met with applause by hundreds of people in the square, many of whom wore masks and kept several meters from each other. The square was reopened to the public last Monday. Normally tens of thousands attend on a Sunday.

The last time the pope delivered his message and blessing from the window was March 1, before Italy, where more than 33,000 people have died from the virus, imposed a lockdown. The last restrictions will be lifted on Wednesday.

Francis led the crowd in silent prayer for medical workers who lost their lives by helping others.

He said he hoped the world would come out of the crisis more united, rather than divided.

“People do not come out of a crisis like this the same as before. We will come out either better or worse than before. Let’s have the courage to emerge better than before in order to build the post-crisis period of the pandemic positively,” he said.

(Reporting by Philip Pullella; Editing by Susan Fenton)

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People more important than the economy, pope says about Covid crisis – TheChronicleHerald.ca

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By Philip Pullella

VATICAN CITY (Reuters) – Pope Francis said on Sunday that people are more important than the economy, as countries decide how quickly to reopen their countries from coronavirus lockdowns.

Francis made his comments, departing from a prepared script, at the first noon address from his window overlooking St. Peter’s Square in three months as Italy’s lockdown drew to an end.

“Healing people, not saving (money) to help the economy (is important), healing people, who are more important than the economy,” Francis said.

“We people are temples of the Holy Spirit, the economy is not,” he said.

Francis did not mention any countries. Many governments are deciding whether to reopen their economies to save jobs and living standards, or whether to maintain lockdowns until they are sure the virus is fully under control.

The pope’s words were met with applause by hundreds of people in the square, many of whom wore masks and kept several meters from each other. The square was reopened to the public last Monday. Normally tens of thousands attend on a Sunday.

The last time the pope delivered his message and blessing from the window was March 1, before Italy, where more than 33,000 people have died from the virus, imposed a lockdown. The last restrictions will be lifted on Wednesday.

Francis led the crowd in silent prayer for medical workers who lost their lives by helping others.

He said he hoped the world would come out of the crisis more united, rather than divided.

“People do not come out of a crisis like this the same as before. We will come out either better or worse than before. Let’s have the courage to emerge better than before in order to build the post-crisis period of the pandemic positively,” he said.

(Reporting by Philip Pullella; Editing by Susan Fenton)

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