Need to know: Wednesday

The Australian Financial Review has a daily newsletter about how the coronavirus pandemic is changing markets, business and politics. This pandemic will profoundly change how all Australians live their lives and reshape the modern, globalised world.

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'Catch-up rally': banks tower above the rest on ASX

The big four banks have staged a powerful ‘‘catch-up rally’’ in which ANZ and Westpac shares rose 11 per cent in intraday trading, as investors seized on better-than-expected economic news and the fears of an extended downturn subsided.

What's behind the bank rally

The three forces driving the stunning rally in bank shares over the past few days speak to a change in the mood of local investors, writes Chanticleer.

Geopolitical time bomb ticks under market rally

The powerful global market rally on hopes for a V-shaped recovery will be put to the test as geopolitical tensions mount between the US and China, with Hong Kong emerging as the new flashpoint in the increasingly fraught relationship between the world's two biggest economies.

Queensland man becomes Australia's first Millennial to die from virus

The death of Australia's first Millenial coronavirus victim, a 30-year-old man, has sparked a contact tracing and testing blitz in the central Queensland coal mining town of Blackwater.

Investors sell up as rental stress rises

One in three renters face housing stress and are at risk of defaulting their rental payments, while more investors are selling their rental properties before prices drop even further.

Why quant legend says it's 26 days to a new normal

A new measure of how long investors see the COVID crisis lasting from quant legend Dan diBartolomeo neatly tells the story of growing optimism, writes Chanticleer.

Economists expect negative GDP for March

A smaller than expected decline in construction work over the first three months of the year will not be enough to keep economic growth from shrinking in the March quarter, economists say.

Federation reform hinges on keeping national cabinet

A plan by Scott Morrison to reform the Federation will most likely hinge on whether the state and territory leaders agree to keep the national cabinet after the coronavirus crisis abates.

How NSW released COVID data by postcode

NSW is using an innovative data privacy check to allow the quick release of daily local COVID-19 data without it being re-identified afterwards.

New house, boat keeps Rich Lister out of Blackmores raising

Blackmores' major shareholder, Marcus Blackmore, says he is being ultra-cautious in staying out of the $117 million capital raising by the vitamins group, but he is steering funds into a new house being constructed on Sydney's northern beaches and a new boat being built in South Africa.

By the numbers

The total number of coronavirus cases across the country increased by 15 for a total of 7133 as at 5.30pm AEST on Tuesday. Follow our live data blog here.