Daily News Links

8396 posts

Thursday, April 23, 2020

Evening

• Stocks quickly cut gains after report says potential Gilead virus treatment flops in trial
  CNBC
• Trump says he may extend coronavirus social distancing guidelines to early summer
  CNBC
• Coronavirus live updates: California reports ‘deadliest day’ yet, global lockdowns ease
  CNBC
• US issues new guidance for small business loans, pressures public companies to return funds
  CNBC
• Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
  Reuters
• Dallas hotelier gets $58.7 million in small business bailout funds
  Reuters
• Gilead Tumbles After Latest Data Leak on Virus Drug Trials
  Bloomberg
• Ray Dalio Dives Deep Into Money to Explain Changing World Order
  Bloomberg
• Over 10% of CLOs Fail Collateral Tests, Putting Payouts at Risk
  Bloomberg
• Fed Focuses on Lending Programs, but Monetary Policy Deliberations Loom
  WSJ
• New Junk Bond Sales Add to Growing Tally
  WSJ
• Germany throws weight behind EU recovery fund
  FT
• Eurozone bank stress starts to show in funding markets
  FT
• The risk of a US double-dip depression is real
  FT
• Gilead antiviral drug remdesivir flops in first trial
  FT
• US lawyers and insurers must face Covid-19 liability
  FT
• Beijing clamps down on Hong Kong under cover of coronavirus
  FT

General

• Markets brush off ugly data, pin hopes on stimulus
  Reuters
• Oil jumps 21%, extending Wednesday’s rally as traders bet on US production cuts
  CNBC
• US weekly jobless claims hit 4.4 million, bringing 5-week total to more than 26 million
  CNBC
• Coronavirus live updates: Labor market data shows continued collapse, US hot spots span the East Coast
  Reuters
• EU leaders weigh massive virus economic recovery measures
  AP
• EU edges towards joint financing for coronavirus recovery
  Reuters
• Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
  Reuters
• Guards chief: U.S. warships will be destroyed if they threaten Iran in Gulf
  Reuters
• Stopping virus a huge challenge at crowded US meat plants
  AP
• China buys crude as prices collapse, adding to stockpiles
  AP
• How the Coronavirus Crisis Pushed the Fed Into Truly Uncharted Territory
  Bloomberg
• When $8 Trillion in Global Fiscal Stimulus Still Isn’t Enough
  Bloomberg
• Europe Inches Toward a $2.2 Trillion Plan That May Never Happen
  Bloomberg
• China’s Uneven Reopening Shows Fear Might Hold Back Economies
  Bloomberg
• Oil Collapse to Worsen China’s Deflation, Open Path for PBOC
  Bloomberg
• Fitch Warns of Credit Risks If Development Banks Pause Repayment
  Bloomberg
• Banks Gave Richest Clients ‘Concierge Treatment’ for Pandemic Aid
  NYT
• Europe Suffers Record Collapse in Economic Activity
  WSJ
• Q&A: How Oil Markets Work, And Why Prices Fell Below Zero
  WSJ
• China struggles with sharp rise in unemployment
  FT

Wednesday, April 22, 2020

Evening

• Wall Street surges as Congress preps more stimulus and oil bounces back
  Reuters
• Coronavirus live updates: California to start scheduling certain surgeries again, local governments left out of next US relief package
  CNBC
• U.S. auto sales show signs of life after gloomy coronavirus March: J.D. Power
  Reuters
• Massive layoffs and pay cuts are likely coming to state and local governments as federal aid goes elsewhere
  CNBC
• Five threats to US food supply chains
  The Hill
• A ‘Wave of Defaults’ Is Coming for Retail and Hotels, NYC Developer Says
  Bloomberg
• ECB Acts to Shield Weakest Euro Economies From Rating Cuts
  Bloomberg
• Coronavirus Will be Largest Event in Insurance History, Says Chubb CEO
  Bloomberg
• Hedge Funds Suffer Largest Quarterly Withdrawals Since 2009
  Bloomberg
• Mnuchin Says ‘We Need to Spend What It Takes’ to Overcome Coronavirus Crisis
  WSJ
• The Bonds the Fed Left Behind in Coronavirus Bailout Are Struggling
  WSJ

General

• Oil pinballs off 1999 lows, stocks clamber higher
  Reuters
• Oil jumps 12%, reversing steep losses after volatile overnight session
  Reuters
• Italian bond yields rise on coronavirus funding uncertainty
  Reuters
• Dollar holds gains as oil rout leaves investors on edge
  Reuters
• Coronavirus live updates: Accuracy of antibody testing questioned, Russia faces huge challenge
  CNBC
• Weekly mortgage demand stalls, even with interest rates at a record low
  CNBC
• EU 'misunderstandings' delay deal on coronavirus economic recovery
  Reuters
• Tensions arise as EU leaders mull huge virus recovery plan
  AP
• Fitch downgrades New Jersey, says combating virus fallout to weaken finances
  Reuters
• China's NPL ratio to rise further in second-quarter but not at a fast pace: banking regulator
  Reuters
• American quandary: how to secure weapons-grade minerals without China
  Reuters
• Analysis: Pandemic fallout tracks nation’s political divide
  AP
• ‘I’m Just Living a Nightmare’: Oil Industry Braces for Devastation
  NYT
• China’s Banks Hit by Increase in Bad Loans in First Quarter
  Bloomberg
• A Leveraged Oil Product Shutters In Wake of Historic Crash
  Bloomberg
• Turkish State Banks Ramp Up Dollar Sales to Aid Lira
  Bloomberg
• Trump, Xi and other nationalists are less united than ever
  FT

Tuesday, April 21, 2020

Evening

• Oil crash pummels stocks and bond yields; dollar rises
  Reuters
• Brent oil futures plunge as growing glut feeds market panic
  Reuters
• U.S. Congress, White House agree on nearly $500 billion more coronavirus bailout
  Reuters
• Mexican central bank unveils $31 billion stimulus, cuts interest rates
  Reuters
• Coronavirus-related job losses hit U.S. black, Hispanic families hardest, studies find
  Reuters
• Cut Off From Credit, Argentina Gets Central Bank to Pay Bills
  Yahoo/Bloomberg
• Turkey Tees Up Yet Another Rate Cut Despite Declines in Currency
  Yahoo/Bloomberg
• Historic Oil Rout Poised to Bust Shale, Trump’s Energy Dominance
  Bloomberg
• India Eases Up on Currency Intervention, Protecting Reserves
  Bloomberg
• Some States Look to Reopen, but Others Want More Testing First
  WSJ
• World’s largest oil ETF revamps portfolio after market chaos
  FT
• India’s coronavirus crisis hits country’s farmers and food supplies
  FT

Afternoon

• Dow plunges 630 points, bringing two-day losses to more than 1,000 points
  CNBC
• June oil futures contract loses half its value as crude continues unprecedented sell-off
  CNBC
• Brent oil drops 25%, near two-decade lows on scant demand, storage
  Reuters
• Coronavirus live updates: New York’s unemployment system collapses, UK begins human vaccine trials this week
  CNBC
• Trump says he will discuss more coronavirus money for states after current bill passes
  Reuters
• Here are the largest public companies taking payroll loans meant for small businesses
  CNBC
• U.S. home sales tumble as coronavirus keeps buyers indoors
  Reuters
• Something Has Snapped in Italy’s Stormy Relationship With Europe
  Bloomberg
• The Death of the Department Store: ‘Very Few Are Likely to Survive’
  NYT
• Pandemic’s Costs Stagger the Nursing Home Industry
  NYT
• Oil Market’s Crisis Spreads to Individual Investors
  WSJ
• Coronavirus Sends One-Fifth of Workers to Unemployment Line in Some States
  WSJ
• Fannie, Freddie Regulator Moves to Ease Cash Crunch at Mortgage Servicers
  WSJ
• The collapse in oil is a wake-up call for stock markets
  FT

General

• Stocks slide as sub-zero U.S. crude adds to pandemic jitters
  Reuters
• Oil continues unprecedented sell-off: June futures drop 20%, May contract still has a negative price
  CNBC
• Dollar resumes ascent as oil and North Korea keep investors on edge
  Reuters
• Oil slump wreaks havoc in Gulf markets, Saudi riyal under pressure
  Reuters
• Trump directs Mnuchin, Energy secretary to create plan to support oil, gas industries as selloff deepens
  CNBC
• Trump to consider halting Saudi oil imports, says U.S. has 'plenty'
  Reuters
• Senate moves toward possible Tuesday coronavirus vote, Pelosi sees deal 'on principles'
  Reuters
• March home sales drop 8.5% as sellers take properties off the market – and the coming months look worse
  CNBC
• The Fed Is Buying $41 Billion of Assets Daily and It’s Not Alone
  Yahoo/Bloomberg
• Central Bank Independence May Not Survive the Coronavirus
  Yahoo/Bloomberg
• Coronavirus live updates: Coca-Cola takes a hit, proposed testing plan could cost $100 billion
  CNBC
• Domestic air travel down 70%, recovery likely to be slow: IATA
  Reuters
• US pork farmers panic as virus ruins hopes for great year
  AP
• Explainer: What is a negative crude future and does it mean anything for consumers?
  Reuters
• These markets could see the sharpest drop in home prices during coronavirus pandemic
  CNBC
• U.S. Debt to Surge Past Wartime Record, Deficit to Quadruple
  Bloomberg
• Italy Needs EU Help to Escape Junk Rating, Goldman Sachs Says
  Bloomberg
• Swiss Gold Exports to U.S. Jump to at Least Eight-Year High
  Bloomberg
• Gold to Reach $3,000—50% Above Its Record, Bank of America Says
  Bloomberg
• BOJ Warns Banks Face Rising Credit Costs, Investment Losses
  Bloomberg
• Korean Exotic Notes Get Wiped Out With Oil’s Plunge Below Zero
  Bloomberg
• Companies Warn of Dire Disruptions From Coronavirus
  WSJ
• Fannie, Freddie May Soon Buy Home Loans in Forbearance to Help Mortgage Firms
  WSJ
• Italy’s Conte prepares for toxic choice on eurozone rescue fund
  FT
• Emerging market debt burdens may be sorely understated
  FT
• What negative US oil prices mean for the industry
  FT
• Sub-zero oil prices threaten big losses for ETF investors
  FT
• Singapore scandal rocks commodity traders and their lenders
  FT

Monday, April 20, 2020

Evening

• South Korean currency tumbles as unconfirmed report indicates that North Korea’s Kim Jong Un is seriously ill
  Reuters
• Oil price crashes into negative territory for the first time in history amid pandemic
  Reuters
• Plunge in U.S. oil prices sinks equities; bonds yields edge lower
  Reuters
• Coronavirus live updates: Georgia governor says some businesses can reopen, California town to test every resident
  CNBC
• The oil industry has never been in a crisis quite like this and many producers will not survive
  CNBC
• Late-stage negotiations on $450B virus aid program drag on
  AP
• Schumer urges Fed's Powell to open loan programs to nonprofits, local governments
  Reuters
• Amazon warehouse workers plan nationwide protest this week to demand coronavirus protections
  CNBC
• Coronavirus antibody testing shows LA County outbreak is up to 55 times bigger than reported cases
  CNBC
• Argentina creditors refuse to tango on debt restructuring proposal
  Reuters
• Oil Plunges Below Zero for First Time in Unprecedented Wipeout
  Bloomberg
• China Creditor Squeeze Prompts Slowdown in Record Bond Defaults
  Bloomberg
• Emerging Markets Have Never Experienced A Crisis Like This Before
  Bloomberg
• Stress Endures in Market Where Big Companies Turn for Cash
  WSJ
• States Burn Through Cash for Unemployment Payments
  WSJ
• In Race for Small-Business Loans, Winning Hinged on Where Firms Bank
  WSJ
• Goldman sees spike in payment holiday requests from retail customers
  FT

Afternoon

• Traders hightail it out of U.S. oil contract as prices reach negative $40
  Reuters
• Wall Street drops as U.S. producers can not give crude away
  Reuters
• EU on the brink: Brussels warned of 'domino effect' if bloc fails to save Italy's economy
  UK Express
• U.S. restaurants seek more aid, on track to lose $240 billion by end of 2020
  Reuters
• Mortgage payments paused or reduced for 3 million U.S. households, survey suggests
  Reuters
• IMF may need 'exceptional measures' to facilitate pandemic response: Georgieva
  Reuters
• Brazilian president Jair Bolsonaro denounced for joining pro-dictatorship rally
  UK Guardian
• Italy’s Conte Calls for Joint Bonds Ahead of EU Summit Clash
  Bloomberg
• EU coronavirus recovery fund plans face political bear traps
  FT
• ECB pushes for eurozone bad bank to clean up soured loans
  FT

General

• U.S. crude gets crushed, share markets turn cautious
  Reuters
• Oil futures contract expiring Tuesday dives 38% as pandemic ravages demand, June contract falls 11%
  CNBC
• US oil prices on pace for their worst day ever as storage runs out
  CNBC
• U.S. House Republican leader: still no deal on more coronavirus money for small businesses
  Reuters
• IMF's Georgieva says coronavirus crisis is worst since Great Depression
  Reuters
• China cuts key rate for second time this year, more easing likely
  Reuters
• Japan stimulus package boosted to $1.1 trillion due to cash payouts: draft
  Reuters
• Coronavirus live updates: US markets not ready for a ‘second wave,’ Spain’s cases top 200,000
  CNBC
• Japan to issue extra bonds worth $240 bln to fund coronavirus stimulus budget - draft
  Reuters
• Japan exports slump as coronavirus hits U.S., Chinese demand
  Reuters
• China first-quarter fiscal revenues down 14.3% year-on-year: finance ministry
  Reuters
• Coronavirus threatens to trigger new round of global food crisis: China official
  Reuters
• CLO Reckoning Arrives: Downgrade Wave Tests $700 Billion Market
  Bloomberg
• Goldman Sees Record U.S. Corporate Cash Spending Cuts This Year
  Bloomberg
• Fearing Big Election Loss, China Goes on Offensive in Hong Kong
  Bloomberg
• A $100 Billion Breather: China Banks Give Borrowers a Coronavirus Debt Holiday
  WSJ
• How strongman leaders will exploit the coronavirus crisis
  FT

Sunday, April 19, 2020

Evening

• Dow futures fall more than 100 points as Wall Street takes a breather after last week’s gains
  CNBC
• Oil drops further, U.S. futures at lows not seen since 2001
  Reuters
• Coronavirus relief deal for U.S. small businesses may come Monday: Trump
  Reuters
• Singapore giant oil trader Hin Leong failed to declare $1.14 billion losses
  Straits Times
• Coronavirus live updates: US death toll surpasses 40,000, Cuomo says NY is ‘past the high point’ of cases
  CNBC
• Italy PM calls for EU solidarity in support of coronabonds
  Reuters
• Global health crisis pits economic against health concerns
  AP
• Singapore's coronavirus spike sends world a wake-up call
  NAR
• Fearful Banks Spurn Asia Commodity Traders in Credit Squeeze
  Bloomberg
• India’s State Borrowers Are Crowding Out Cash-Strapped Companies
  Bloomberg
• Warmest Oceans on Record Could Set Off a Year of Extreme Weather
  Bloomberg
• America’s Biggest Cities Were Already Losing Their Allure. What Happens Next?
  NYT
• Bets Against the Stock Market Rise to Highest Level in Years
  WSJ
• Creditors push back on G20 debt relief plea for emerging markets
  FT

General

• Pelosi says 'very close' to coronavirus funding deal
  Reuters
• Coronavirus live updates: Pelosi says lawmakers are ‘very close’ to new rescue funding deal as US cases top 735,000
  CNBC
• Record government and corporate debt risks 'tipping point' after pandemic passes
  MSN/Washington Post
• Trump warns China could face consequences for virus outbreak
  Reuters
• Trump and governors are on a collision course over coronavirus testing
  CNN
• Europe needs at least 500 billion euros from EU institutions for recovery: ESM
  Reuters
• Exclusive: Neiman Marcus to file for bankruptcy as soon as this week - sources
  Reuters
• U.S. condemns arrests of Hong Kong democracy activists
  Reuters
• India Virus Cases Surge as Nation Enters Fourth Week of Lockdown
  Bloomberg
• Hin Leong Failed to Declare $800 Million Losses
  Bloomberg
• Iran’s Central Bank Head Urges IMF to Approve Virus Loan
  Bloomberg
• Trump Suggests China May Be ‘Knowingly Responsible’ for Virus
  Bloomberg
• Citigroup Cutting Ties With Anthony Scaramucci’s Hedge Fund of Funds
  WSJ
• Bolsonaro, Brazil and the coronavirus crisis in emerging markets
  FT
• We are entering the new age of American austerity
  FT
• Italy is in more danger than the eurozone will acknowledge
  FT
• Why China is losing the coronavirus narrative
  FT

Saturday, April 18, 2020

General

• Wall Street Week Ahead: In companies' earnings, words may matter more than numbers
  Reuters
• Coronavirus live updates: US infections top 700,000, how to get refunds on travel and other deals
  CNBC
• Nothing Is Certain But Bailouts: How Stimulus Works in a Vacuum
  Yahoo/Bloomberg
• Police in Hong Kong arrest 14 activists amid autonomy warnings
  UK Guardian
• Scenes of protests across the country demanding states reopen the economy amid coronavirus pandemic
  CNBC
• The Food Chain’s Weakest Link: Slaughterhouses
  NYT
• The Stock Market Is Ignoring the Economy
  WSJ
• U.S. Crude Prices Drop to New 18-Year Low
  WSJ
• US banks brace for surge in loan losses
  FT

Friday, April 17, 2020

Afternoon

• Dow jumps 700 points on hope for a coronavirus treatment, closes at highest level since March
  CNBC
• Oil mixed as weak Chinese data, growing U.S. supplies offset Trump plan to ease lockdown
  Reuters
• Coronavirus live updates: Global deaths cross 150,000 as Trump urges states reopen
  CNBC
• WHO warning: No evidence that antibody tests can show coronavirus immunity
  CNBC
• US officials confirm full-scale investigation of whether coronavirus escaped from Wuhan lab
  Fox News
• Fed Slows Pace of Treasury Buying Under Its QE Program
  Bloomberg
• Loans Averaged $206,000 in Small Businesses Fund That Ran Out
  Bloomberg
• Texas Oil at $2 a Barrel Raises Specter of Negative Prices
  Bloomberg
• China’s economy: the risk of a second coronavirus wave
  FT
• Argentina debt restructuring offer leaves investors cold
  FT

General

• Super-charged global stocks race towards second weekly gain
  Reuters
• Oil rises as Trump plans to ease lockdown
  Reuters
• Trump to release guidelines for phased-in re-opening of U.S. economy
  Reuters
• China's first-quarter GDP posts first decline on record as virus shuts down economy
  Reuters
• China March industrial output falls 1.1% y/y, better than forecast; Q1 investment slides 16.1%
  Reuters
• Coronavirus live updates: Cases in Russia jump, Google told to respect data privacy
  CNBC
• China’s economy in worst downturn since ’70s in virus battle
  AP
• Europe car sales tank 55% in March on coronavirus lockdowns
  AP
• Hedge Fund Hotshots Suffer Humbling Losses in Coronavirus Chaos
  Bloomberg
• Meet Fed’s Nine New Offspring, Each With Different Market Role
  Bloomberg
• Banks Have $13 Billion of Junk Debt They Can’t Wait to Sell
  Bloomberg
• China’s Economy Shrinks, Ending a Nearly Half Century of Growth
  NYT
• Coronavirus Ravages China’s Economy—and It’s Just Getting Started
  WSJ
• Mnuchin Under Growing Pressure to Help Struggling Mortgage Companies
  WSJ
• Editorial Board: Fed’s junk bond purchases should be short-term
  FT
• Giant US bond managers suffer March bloodbath
  FT
• Coronavirus threatens $500bn hole in US state budgets
  FT
• Jair Bolsonaro triggers furore by firing Brazil’s health minister
  FT