Daily News Links

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Thursday, May 21, 2020

Evening

• Stock futures rise slightly as Wall Street tries to recover from Thursday’s losses
  CNBC
• Fed’s balance sheet tops $7 trillion, shows increased buying of corporate bond ETFs
  Reuters
• The coronavirus is crushing bankrupt retailers’ hopes for a rebound – and threatening even more jobs
  CNBC
• Argentina extends debt talks deadline as default looms
  Reuters
• Brazil suffers record 1,188 daily coronavirus deaths
  Reuters
• Fed Chair Warns This Is a ‘Downturn Without Modern Precedent’
  NYT
• Many Jobs May Vanish Forever as Layoffs Mount
  NYT

Afternoon

• Wall Street finishes down as U.S.-China tensions heighten trade deal worries
  Reuters
• China set to impose new Hong Kong security law, Trump warns of strong U.S. reaction
  Reuters
• Coronavirus live updates: NYC and NJ set timelines to expand reopening; GOP aims to drop expanded unemployment benefits
  CNBC
• As nation reopens, a historic referendum on risk begins
  AP
• Exclusive: A quarter of Americans are hesitant about a coronavirus vaccine - Reuters/Ipsos poll
  Reuters
• American billionaires got $434 billion richer during the pandemic
  CNBC
• Many Americans used part of their coronavirus stimulus check to trade stocks
  CNBC
• Senators to Propose Bill Sanctioning Chinese Officials Over Hong Kong Security Law
  WSJ
• Europe’s Recovery Imperiled by Banks Too Scared to Lend
  WSJ
• Federal Reserve’s swaps intervention will preserve dollar’s reach
  FT
• British banks warn BoE against negative rates
  FT
• China risks new Hong Kong protests by imposing security law
  FT

General

• Futures retreat as trade tensions add to pandemic woes
  Reuters
• Shares lose footing, oil marches on
  Reuters
• Oil at highest since March on lower U.S. inventories, recovering demand
  Reuters
• Weekly jobless claims rose 2.438 million, vs 2.4 million estimate
  CNBC
• Home sales dropped nearly 18% in April, while decline in inventory pushed prices to a record high
  CNBC
• Trump Points Finger at China’s Xi, Escalating Fight Over Virus
  Yahoo/Bloomberg
• White House report criticizes China’s economic policies, human rights violations
  CNBC
• U.S.-China tensions will likely get worse ahead of November election, experts say
  CNBC
• China’s Got a New Plan to Overtake the U.S. in Tech
  Yahoo/Bloomberg
• Trump administration approves arms sale to Taiwan amid China tensions
  CNN
• China says U.S.'s Pompeo 'blackmailing' Hong Kong government
  Reuters
• COVID-era junk bond deals begin to go sour
  Reuters
• China focused on jobs as national legislature meets
  AP
• Japan exports fall most since 2009 as pandemic wipes out global demand
  Reuters
• Fiscal Nightmare Ties Up Kuwait’s Stimulus With 40% Deficit
  Yahoo/Bloomberg
• Home Mortgage Delinquencies Soar by Most on Record in April
  Bloomberg
• Black Swan Author Spars With Quant Legend Over Tail Risk Hedges
  Bloomberg
• What Xi knew: pressure builds on China’s leader | Free to read
  FT
• Argentina on brink of default as it wrangles with bondholders
  FT
• Brazil emerges as a top global coronavirus hotspot
  FT

Wednesday, May 20, 2020

Evening

• U.S. stock futures flat as Wall Street takes a breather from week’s rally
  CNBC
• Highly indebted ‘zombie’ companies control more than 2 million U.S. jobs
  CNBC
• Fed debates longer-term crisis-fighting plan, minutes show
  Reuters
• Fed Worries Turned to Financial Stability in April Meeting
  Yahoo/Bloomberg
• U.S. housing finance regulator unveils new capital framework for Fannie, Freddie
  CNBC
• Brazil coronavirus outbreak worsens, cases could soon be second highest in world
  Reuters
• Global coronavirus cases surpass 5 million, infections rising in South America
  Reuters
• Top HIV scientist says he wouldn't count on a vaccine for coronavirus soon
  Reuters
• Ford shuts two U.S. assembly plants due to COVID-19 infections
  Reuters
• Fannie, Freddie Should Hold $240 Billion in Capital After Return to Private Hands, FHFA Says
  WSJ
• US Senate passes bill that puts some Chinese listings at risk
  FT
• US sets $200bn fundraising goal for Fannie and Freddie
  FT

Afternoon

• S&P 500 hits two-month high on growing recovery hopes
  Reuters
• Treasuries - Yields fall after first 20-year bond auction in decades
  Reuters
• Oil rises on lower U.S. stocks, firmer demand
  Reuters
• Fed minutes show fears of ‘extraordinary amount of uncertainty and considerable risks’ because of coronavirus
  CNBC
• Fed policymakers pledged to act as appropriate, minutes show
  Reuters
• Coronavirus live updates: NYC sees ‘striking’ decline in vaccinations; workers at reopened Ford plant test positive
  CNBC
• Pompeo calls China virus response 'paltry' compared to damage done
  Reuters
• BlackRock’s Biggest Credit ETF Swells to Record Amid Fed Pledge
  Yahoo/Bloomberg
• First 20-Year Treasury Sale in a Generation Is Well-Received
  Yahoo/Bloomberg
• Illinois Moves Toward First Test of Fed’s Muni-Lending Lifeline
  Yahoo/Bloomberg
• The Day Coronavirus Nearly Broke the Financial Markets
  WSJ
• Millions of Americans Skip Credit-Card and Car Payments
  WSJ
• BoE says negative interest rates are ‘under review’ for first time
  FT

General

• Stocks jump as investors hold out for recovery
  Reuters
• Gold gains as bleak economic outlook stokes safe-haven demand
  Reuters
• Oil up on lower U.S. stocks, firmer demand
  Reuters
• Weekly mortgage applications point to a remarkable recovery in homebuying
  CNBC
• China stands pat on benchmark rate, signals brief pause in easing efforts
  Reuters
• China stocks up food and oil supplies as coronavirus spurs fears about shortages
  CNBC
• Germany says proposed recovery fund is not about joint borrowing
  Reuters
• ECB Finally Hears EU Cavalry Coming to Help Its Crisis Fight
  Yahoo/Bloomberg
• Lira-Averse Banks Raise Concern in Turkey of Another Dollar Rush
  Yahoo/Bloomberg
• Turkey Turns to Gulf Ally Again With $15 Billion Qatar Swap Line
  Yahoo/Bloomberg
• Brazil suffers record coronavirus deaths, Trump mulls travel ban
  Reuters
• Australian retail sales dive a record 17.9% in April: ABS preliminary estimate
  Reuters
• Exclusive: In veiled warning to Iran, U.S. tells Gulf mariners to stay clear of its warships
  Reuters
• China Vows Retaliation Over Pompeo’s Message to Taiwan’s Tsai
  Bloomberg
• China’s New Outbreak Shows Signs the Virus Could Be Changing
  Bloomberg
• Russia Joins Global Borrowing Boom With Record Bond Sale
  Bloomberg
• Debt Woes Derail India’s Plan to Deliver Stronger Fiscal Support
  Bloomberg
• States Step Up Reopenings, Hoping to Limit Economic Damage
  WSJ
• Behind Bond Market’s Stall, Investors See Hard Times Ahead
  WSJ
• Turkish Banks’ Big Foreign Debts Worry Investors
  WSJ

Tuesday, May 19, 2020

Evening

• Stocks Fall After Moderna Vaccine Study Questioned: Markets Wrap
  Yahoo/Bloomberg
• U.S. crude strengthens as certain stimulus measures to continue
  Reuters
• CBO projects 38% drop in GDP, $2.1 trillion increase in the deficit
  CNBC
• Republican senators put brakes on additional coronavirus aid
  Reuters
• Business group cautions U.S. on 'reshoring' too much China supply
  Reuters
• Extreme Behavior Is on Display Everywhere in the Stock Market
  Yahoo/Bloomberg
• The nightmare that colleges face this fall
  MSN/The Atlantic
• Brazil yields on bonds beyond 3 years too high to fund crisis spending -Treasury Secretary
  Reuters
• U.S. Financial Conditions Are Easing at Fastest Pace in History
  Bloomberg
• Millions of Newly Jobless in China Pose a Looming Threat to Xi
  Bloomberg
• Too Big to Fail: The Entire Private Sector
  NYT

Afternoon

• S&P 500 steady after mixed retail earnings
  Reuters
• Southern European bond yields tumble on EU recovery fund proposal
  Reuters
• Coronavirus hammers U.S. homebuilding; permits tumble
  Reuters
• Powell Says Fed Has America’s Back With Congress Arguing Over Aid
  Bloomberg
• Kudlow Says Nobody Can Confidently Invest in Chinese Companies
  Bloomberg
• China’s ‘Wolf Warrior’ Diplomats Are Ready to Fight
  WSJ
• China, Trump Square Off Over Coronavirus Response
  WSJ
• Landlords Fume as Starbucks, Other Chains Seek Extended Rent Cuts
  WSJ
• Commercial Real Estate’s Havens Suddenly Not So Safe
  WSJ
• Is the Franco-German recovery plan a game-changer?
  FT

General

• U.S. Stocks Fluctuate; Crude Oil Edges Higher: Markets Wrap
  Yahoo/Bloomberg
• Euro, Italian bonds cheer EU recovery fund plan
  Reuters
• Powell, Mnuchin to face Senate grilling on U.S. coronavirus response
  Reuters
• [CNBC[ U.S. housing starts drop to 891,000 in April, vs 927,000 expected
• Coronavirus live updates: U.S. cases surpass 1.5 million; retail earnings show strong sales
  CNBC
• Trump threatens to permanently cut off WHO funding, withdraw U.S. membership
  CNBC
• China says U.S. trying to shift blame and smear Beijing over WHO
  Reuters
• America’s Zombie Companies Are Multiplying and Fueling New Risks
  Yahoo/Bloomberg
• Trump’s China Rhetoric Is the Next Risk for Emerging Markets
  Yahoo/Bloomberg
• Australia faces 'unprecedented' economic hit from coronavirus: RBA minutes
  Reuters
• MIT Professor’s Moderna Stake on Brink of Topping $1 Billion
  Yahoo/Bloomberg
• Fear of Risk Could Diminish the Economic Rescue by the Treasury and Fed
  NYT
• China Considers Further Relief as Deadline Nears on $211 Billion in Bad Debt
  Bloomberg
• Russia Economy Contracted by a Quarter in April, Early Data Show
  Bloomberg

Evening

• Asia shares set to follow Wall Street rally on vaccine hopes
  Reuters
• Dow surges more than 900 points in best day since early April amid hope for coronavirus vaccine
  CNBC
• Fed's Powell: CARES Act 'critical' to support for economy
  Reuters
• More than 8% of U.S. mortgages now in forbearance: MBA weekly survey
  Reuters
• Coronavirus live updates: States are reopening gyms, casinos and malls as business owners adjust to precautions
  CNBC

Monday, May 18, 2020

Afternoon

• Dow rallies 900 points as Wall Street cheers potential coronavirus vaccine
  CNBC
• Coronavirus live updates: New York plans for return of pro sports, Germany and France push for massive recovery fund
  CNBC
• U.S. homebuilder confidence rises in May
  Reuters
• IMF chief warns full global economic recovery unlikely in 2021
  Reuters
• Moody's warns of risks to Brazil 'stable' rating outlook from deep recession
  Reuters
• Trump’s China Rhetoric Is the Next Big Risk for Emerging Markets
  Yahoo/Bloomberg
• Don’t Be Fooled by the Calm in Emerging Markets. Risks Remain
  Yahoo/Bloomberg
• China May Agree to Delay, Not Forgive, $150 Billion Africa Debt
  Yahoo/Bloomberg
• China Lent Billions to Poor Countries. They Can’t Pay It Back.
  NYT
• Why Coronavirus Increasingly Exacerbates the Red-Blue Divide
  WSJ
• Xi seeks to cast China as guardian of global order
  FT

General

• Wall Street jumps on stimulus, vaccine hopes
  Reuters
• Oil and European shares rise as lockdowns ease; gold jumps
  Reuters
• Gold Climbs to 7-Year High After Fed’s Stocks, Growth Warnings
  Yahoo/Bloomberg
• Oil jumps 9% to $32 as June futures contract nears expiration
  CNBC
• Moderna reports ‘positive’ data on early-stage coronavirus vaccine trial, shares surge 39%
  CNBC
• Powell says GDP could shrink more than 30%, but he doesn’t see another Depression
  CNBC
• U.S. mulls paying companies, tax breaks to pull supply chains from China
  Reuters
• Coronavirus live updates: Market cheers ‘positive’ vaccine news; WHO chief says ‘long road to travel’
  CNBC
• What did eight weeks and $3 trillion buy the U.S. in the fight against coronavirus?
  Reuters
• U.S.-China Fight Over Chip Kingpin Rattles Global Tech Industry
  Yahoo/Bloomberg
• Huawei Warns of ‘Terrible Price’ If U.S.-China Tensions Escalate
  Yahoo/Bloomberg
• China Home-Price Growth Accelerates in Property Market Boost
  Yahoo/Bloomberg
• China's trade faces 'unprecedented' challenges amid pandemic: commerce minister
  Reuters
• China home prices rise again in April, adding momentum to recovery
  Reuters
• Japan slips into recession, slump set to worsen as pandemic wreaks havoc
  Reuters
• Coronavirus Vaccine From Moderna Shows Early Signs of Viral Immune Response
  Bloomberg
• Central Banks Have Let the Genie Out of the Bottle
  Bloomberg
• Italy’s Huge Debt Load Is at Risk of Becoming Unmanageable
  Bloomberg
• The Fed’s $600 Billion Challenge: Lending Directly to Businesses
  WSJ
• Investors Bet on ECB While Lapping Up Risky Government Bonds
  WSJ
• Oil Becomes a Risky Game for Saudis
  WSJ

Sunday, May 17, 2020

Evening

• U.S. Stock Futures Edge Higher; Pound Slips: Markets Wrap
  Yahoo/Bloomberg
• Fed's Powell says full economic recovery may require coronavirus vaccine: CBS
  Reuters
• Pompeo warns China over interference with U.S. journalists in Hong Kong
  Reuters
• Unpriceable Risk of Climate Change Stalks $31 Trillion of Debt
  Yahoo/Bloomberg
• This Is Where Global Investors Are Placing Bets Right Now
  Yahoo/Bloomberg
• Texas reports largest single-day jump in coronavirus cases
  The Hill
• Fed’s Powell Says Economy Faces Long, Uncertain Recovery
  WSJ
• Jay Powell warns US recovery could take until end of 2021
  FT

General

• China warns US of ‘all necessary measures’ over Huawei rules
  AP
• A month after negative oil prices, U.S. crude contract expiry looms
  Reuters
• China says opposed to latest U.S. rules against Huawei
  Reuters
• Coronavirus live updates: India’s cases top 90,000; Brazil’s outbreak surpasses Spain and Italy
  CNBC
• China central bank should shun risky bond buying as economy improves: adviser
  Reuters
• Europe should temporarily ban Chinese takeovers: Germany's Weber
  Reuters
• Brazil passes Italy and Spain in confirmed coronavirus cases
  Reuters
• Hedge Fund Luminaries Are Lining Up Behind Gold Again
  Yahoo/Bloomberg
• Pandemic Shatters World Order, Sowing Anger and Mistrust
  Bloomberg
• Americans Are Giving Made-in-China the Cold Shoulder
  Bloomberg
• China Faces Angry World Seeking Virus Answers at Key WHO Meeting
  Bloomberg
• Dollar liquidity measures leave some countries out in the cold
  FT
• Will Italy’s borrowing costs rise even further?
  FT

Saturday, May 16, 2020

General

• Wall Street Week Ahead: Investors prepare for more U.S. stock swings as states reopen
  Reuters
• China asks United States to stop 'unreasonable suppression' of Huawei
  Reuters
• Coronavirus live updates: Trump plans to restore a sliver of WHO funding; working grandmas worry about retirement
  CNBC
• House Democrats pass $3 trillion coronavirus relief package
  CNBC
• Google Antitrust Suit Being Drafted by Justice Department
  Yahoo/Bloomberg
• Pandemic claims another retailer: 118-year-old J.C. Penney
  AP
• Trump Says Tech Giants Controlled by ‘Radical Left,’ Vows Action
  Bloomberg
• How French Banks Lost Big in the Complex World of Structured Finance
  WSJ
• ETF investors flock to gold and corporate bond funds
  FT

Friday, May 15, 2020

Evening

• Wall Street ends up after swings on reopening hopes, weak data, trade woes
  Reuters
• Gold scores highest finish in a month as U.S. economic data highlights impact of coronavirus
  MarketWatch
• Oil prices jump as demand shows signs of picking up
  Reuters
• Fed Warns of ‘Significant’ Hit to Asset Prices If Pandemic Grows
  Yahoo/Bloomberg
• Fed warns of 'significant' financial vulnerabilities from pandemic
  Reuters
• U.S. House Democrats push for $3 trillion coronavirus bill, over Republican resistance
  Reuters
• Coronavirus live updates: Trump says ‘vaccine or no vaccine, we’re back;’ cities cap food delivery fees
  CNBC
• China uses trade as weapon to silence virus criticism
  AP
• Bolsonaro's health minister quits, deepening Brazil coronavirus crisis
  Reuters
• Latin America’s Fastest Economy Now Faces Worst Slump Since 1905
  Yahoo/Bloomberg
• The Federal Reserve says parts of the financial system came under severe strain in March, sees further threats possible
  AP
• Fed Warns of ‘Significant’ Hit to Asset Prices If Pandemic Grows
  Bloomberg
• Gold, Silver Race Higher on Fear of Second Virus Wave
  Bloomberg
• Michigan Sees Budget Gap Twice as Big as Last Recession’s
  Bloomberg
• States Are Reopening With No Clear Picture of U.S. Coronavirus Cases
  WSJ

General

• U.S. Stocks Slide on Rising Trade Concern: Markets Wrap
  Yahoo/Bloomberg
• Investors Flee Risk on U.S.-China Row, Powell Warning
  Yahoo/Bloomberg
• Oil back at early April highs as demand shows signs of picking up
  Reuters
• Coronavirus savages U.S. retail sales again in April
  Reuters
• U.S. House aims to pass $3 trillion Democratic coronavirus bill rejected by Republicans
  Reuters
• US-China tensions rise as Trump administration moves to cut Huawei off from global chip suppliers
  CNBC
• China ready to put Apple, other U.S. companies in 'unreliable entity list': Global Times
  Reuters
• China's factory output posts first increase for 2020 but consumption still weak
  Reuters
• Coronavirus updates: Germany reports 913 new cases; restaurants reopen in Australia’s biggest state
  Reuters
• Fed Is All In: Here Are the Key Features of Its Lending
  Yahoo/Bloomberg
• Fed Buys $305 Million of ETFs at Launch of Historic Program
  Yahoo/Bloomberg
• Germany Plunges Into Recession With Biggest Slump in Decade
  Yahoo/Bloomberg
• How bank hedging jolted investors into talk of negative rates
  FT
• Virus Revives Worst-Case Scenarios for U.S.-China Relationship
  Bloomberg
• China’s Cautious Economic Reboot Is a Warning for the World
  Bloomberg
• Brazil Reports New Record of Covid Daily Cases With 13,944
  Bloomberg
• Who’s on the Hook for Skipped Mortgage Payments?
  WSJ
• Coronavirus to Slow U.S. Meat Production for Months, CEO Says
  WSJ
• US escalates China tensions with tighter Huawei controls
  FT