Daily News Links

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Friday, April 3, 2020

Evening

• Wall Street falls as coronavirus shreds U.S. payrolls
  Reuters
• Coronavirus live updates: US deaths top 7,000, Fauci warns about ‘knockout drug’
  CNBC
• Republican leader McConnell says another coronavirus bill is coming
  Reuters
• The watchdogs overseeing the $2.3 trillion U.S. bailout
  Reuters
• Bank of America says 85,000 small businesses have asked for $22.2 billion in loans since 9 a.m.
  CNBC
• Helicopters? Bailouts? Central banks move to stem coronavirus crisis
  Reuters
• A Trio of Downgrades Spell Default Danger for Emerging Markets
  Bloomberg
• Kissinger: The Coronavirus Pandemic Will Forever Alter the World Order
  WSJ

General

• Wall Street lower as record jobs growth ends
  Reuters
• Stocks fall as business signals hit from pandemic, oil grinds higher
  Reuters
• Oil Surges as Producers Eye 10 Million Barrel a Day Output Cut
  Yahoo/Bloomberg
• US payrolls drop 701,000 in March, the first jobs decline since 2010
  CNBC
• US services sector growth slows down in March, ISM says
  CNBC
• OPEC+ debates biggest-ever oil cut as virus destroys demand
  Reuters
• Trump to host Big Oil execs at White House to discuss market slump
  Reuters
• China's services activity shrinks further in March, job cuts fastest on record: Caixin PMI
  Reuters
• Coronavirus live updates: Google site shows who’s social distancing, Pelosi wants more govt relief
  CNBC
• Why U.S. Housing Bubble 2.0 Is About To Burst
  Forbes
• China pursues global leadership ambitions as it offers aid during the coronavirus crisis
  CNBC
• OPEC+ Pushes for Global Cut to Stem Rout as Russia Ready to Move
  Bloomberg
• Global Cost of Coronavirus Could Reach $4.1 Trillion, ADB Says
  Bloomberg
• Coronavirus Battle Throws Open Eurozone’s Divide
  WSJ
• Saudi Arabia, Russia to Debate Oil Cuts, Pushing Crude Sharply Higher
  WSJ
• Why America’s $1.3tn car-loan market cannot avoid a pile-up
  FT

Thursday, April 2, 2020

Evening

• Stock futures lower as indexes head for modest weekly losses
  CNBC
• Fed balance sheet increases to record $5.86 trillion
  Reuters
• Oil jump lifts Wall Street as jobless claims data surges
  Reuters
• Gold, silver prices see sharp pop on huge jump in U.S. jobless
  Kitco
• Coronavirus live updates: Global cases top 1 million, Americans may face relief check delays
  CNBC
• White House says small business lending program will be running Friday, even as JPMorgan says it’s not ready
  CNBC
• Trump touts 'great' Saudi-Russia oil deal to halt price rout, but details unclear
  Reuters
• Emerging markets need more than Fed repos to fix dollar malaise
  Reuters
• European leaders warn coronavirus could lead to the breakup of their union
  MSN/Washington Post
• U.S. high-grade corporate bond issuance sets weekly record
  Reuters
• Manhattan real estate sales ground to a halt in March. Prices could plunge next
  CNBC
• U.S. Navy relieves commander of coronavirus-stricken aircraft carrier
  Reuters
• China answers Brazil plea for medical equipment to fight coronavirus
  Reuters
• Brazil's Bolsonaro isolated, weakened by coronavirus denial
  Reuters
• In Just Three Weeks, 10% of Workers in These States Are Jobless
  Bloomberg
• Foreign Central Banks Sell $109 Billion of Treasuries in March
  Bloomberg
• S&P 500 Dividend Cuts Add Up Faster Than Any Time Since 2009
  Bloomberg
• Banks Tighten Lending to Nervous Homeowners Hoping to Tap Equity
  Bloomberg
• Exploding Fed Balance Sheet Risks Unintended Brake on Bank Loans
  Bloomberg
• U.S. High-Yield Bond Funds See Record Inflow After Exodus
  Bloomberg
• The Rush for $350 Billion in Small-Business Loans Starts Friday. Banks Have Questions.
  WSJ

Afternoon

• Wall St. gains as oil recovery eclipses record weekly jobless claims
  Reuters
• Oil soars after Trump says Saudis and Russians to cut output
  Reuters
• Trump tells CNBC he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut
  CNBC
• Coronavirus live updates: US cases top 217,000, Goldman’s David Solomon says US response was ‘slow’
  CNBC
• U.S. trade deficit near three-and-a-half-year low as Chinese imports tumble
  Reuters
• This map shows which states are seeing the most job losses due to the coronavirus
  CNBC
• Disaster in motion: 3.4 million travelers poured into US as coronavirus pandemic erupted
  ABC
• Nursing home infections, deaths surge amid lockdown measures
  AP
• Home Lenders Brace for Up to 15 Million U.S. Mortgage Defaults
  Bloomberg
• Poorer Countries Are Least Prepared for Pandemic Lockdowns
  Bloomberg
• Oil at $4 a Barrel? That’s the Price Belarus Is Offering Russia
  Bloomberg
• The Rush for $350 Billion in Small-Business Loans Starts Friday. Banks Have Questions.
  WSJ
• Questions About Accuracy of Coronavirus Tests Sow Worry
  WSJ

General

• World stocks drift as wary investors expect grim U.S. jobs data
  Reuters
• Dollar maintains gains after weeks of rallying
  Reuters
• Oil rallies 10% after Trump says he expects Saudi Arabia-Russia feud to end soon
  CNBC
• Gold extends rise after another surge in jobless claims
  MarketWatch
• 10-year Treasury yield falls below 0.6% after unemployment claims surge for a second week
  CNBC
• US weekly jobless claims total 6.6 million, vs 3.1 million expected
  CNBC
• Coronavirus live updates: US unemployment claims skyrocket, Boeing offers workforce buyouts
  CNBC
• Stuck at home and jobless, Americans confront growing costs of coronavirus
  Reuters
• Whiting Petroleum is just the ‘first domino’ to fall in US shale wipeout, strategist says
  CNBC
• Apply here: How to spend $2.2 trillion — and rescue economy
  AP
• Ford first-quarter U.S. auto sales tumble 12.5% on coronavirus hit
  Reuters
• Exclusive: U.S. officials agree on new ways to control high tech exports to China - sources
  Reuters
• Yuan Weakens Past Key Support Level as Depreciation Quickens
  Bloomberg
• China-Focused Hedge Funds Risk a Wave of Redemptions
  Bloomberg
• Worst Yet to Come For Junk Debt as Defaults Loom, Goldman Says
  Bloomberg
• Coronavirus Is Making the Public Pension Crisis Even Worse
  NYT
• Empty Hotels. Idled Tour Buses. The Pandemic Is Devastating Tourism.
  NYT
• Fed Temporarily Eases Capital Requirements for Big Banks
  WSJ
• How the Muni Market Became the Epicenter of the Liquidity Crisis
  WSJ
• Investors brace for credit crisis in emerging markets
  FT
• China’s economy has yet to reach bottom
  FT
• China, coronavirus and surveillance: the messy reality of personal data
  FT

Wednesday, April 1, 2020

Evening

• Wall Street's major stock indexes plunge as coronavirus anxiety grows
  Reuters
• U.S. dollar gains as global recession looms
  Reuters
• Treasuries - Longer-term yields fall on growing worries over pandemic's impact
  Reuters
• US leveraged loans frozen as market grapples with new normal
  Reuters
• Coronavirus live updates: US cases top 200,000, politicians call for 4th crisis relief package
  CNBC
• Florida, Pennsylvania issue statewide stay-at-home orders amid coronavirus outbreak
  CNBC
• Trump invites Big Oil to discuss help for ailing industry
  Reuters
• U.S. shale company Whiting becomes first major bankruptcy of oil-price crash
  Reuters
• Oil market shock to spill over into global supply chains: IEA
  Reuters
• COVID-19 infections growing exponentially, deaths nearing 50,000: WHO
  Reuters
• 'Thank you China!!!' Mexico grateful for coronavirus medical supplies
  Reuters
• Many New York Coronavirus Patients Are Young, Surprising Doctors
  Bloomberg
• ETFs Liquidate at Quickest Pace Since 2017 Amid Market Turmoil
  Bloomberg
• Start-Ups Are Pummeled in the ‘Great Unwinding’
  NYT
• The Fed Is Settling Into Its Role as the World’s Central Bank
  WSJ
• Hospitals, Doctors Feel Financial Squeeze as Coronavirus Sweeps U.S.
  WSJ

Afternoon

• Wall Street sinks as coronavirus anxiety grows
  Reuters
• US intelligence says China under-reported virus cases and deaths - report
  ForexLive
• Coronavirus live updates: Over 1,000 NYC police contract COVID-19, TSA screenings at 10-year low
  CNBC
• Das: If the Virus Hadn’t Caused the Crash, Something Else Would Have
  MSN/Bloomberg
• Trillions in coronavirus spending could explode deficits to World War II levels
  MarketWatch
• These states could be hit with the biggest jobs losses from the coronavirus pandemic
  CNBC
• What's in the $2.3 trillion U.S. coronavirus rescue package
  Reuters
• Over $100 Billion of Treasuries Dumped by Foreign Central Banks
  Bloomberg
• China Concealed Extent of Virus Outbreak, U.S. Intelligence Says
  Bloomberg
• Oil’s Apocalyptic April Could Reverberate for Years to Come
  Bloomberg
• CLO Pain Is Just Starting With Leveraged Loan Rating Cuts
  Bloomberg

General

• Dow tumbles 800 points after market posts worst first quarter on record
  CNBC
• Global stock markets skid as coronavirus infections soar
  AP
• Oil prices mixed, U.S. inventory build-up heightens oversupply concerns
  Reuters
• Coronavirus live updates: Virus hits spring home sellers, Spain suffers highest death toll yet
  CNBC
• This is Bill Gates’s 3-step plan for beating COVID-19
  Fast Company
• Treasury Secretary Mnuchin says he’s having ongoing discussions about infrastructure
  CNBC
• US companies cut 27,000 jobs before the worst of the coronavirus shutdown hit, ADP report shows
  CNBC
• Factory activity plunges as coronavirus shock deepens
  Reuters
• Mortgage applications to buy a home plummet 24% annually as coronavirus slams spring housing
  CNBC
• Fed Takes on Role of World’s Central Bank by Pumping Out Dollars
  Yahoo/Bloomberg
• Jim Rogers Expects ‘Worst Bear Market in My Lifetime’ in Coming Years
  Yahoo/Bloomberg
• Millions of small U.S. firms may tap coronavirus loan program on Friday
  Reuters
• Private equity lobbyists were involved in the push for $500 billion coronavirus bailout fund
  CNBC
• Japan on brink of emergency as coronavirus spreads: government spokesman
  Reuters
• China factory activity shows minimal growth in March after plunge, still in virus grip
  Reuters
• Japan's business mood hits 7-year low as virus revives deflation spectre
  Reuters
• Gulf banks put brakes on lending as dollar liquidity crunch looms
  Reuters
• Wall Street’s Bullish ‘Illusion’ Shattered by Bad-News Onslaught
  Bloomberg
• Rogers, Gundlach Say the Worst of the Rout Has Yet to Come
  Bloomberg
• Trump May Let Drillers Stash Glut of Oil in Federal Storage
  Bloomberg
• Singapore Home Prices Fall Most in More Than Three Years
  Bloomberg
• Why the Global Recession Could Last a Long Time
  NYT
• As Virus Hobbles Economy, Companies Race to Tap Credit and Raise Cash
  NYT
• Commercial paper market still creaking despite Fed measures
  FT
• Developing countries scramble for funds to stave off virus impact
  FT
• How central banks beat back the ‘bond vigilantes’
  FT
• Will the coronavirus crisis rehabilitate the banks?
  FT
• Private equity groups seek US small business rescue loans
  FT

Tuesday, March 31, 2020

Evening

• Dow futures fall more than 200 points after market posts worst first quarter on record
  CNBC
• White House predicts 100,000 to 240,000 will die in US from coronavirus
  CNBC
• Trump warns Americans of a tough two weeks in coronavirus fight
  Reuters
• U.S. small-business coronavirus loans could see millions of applications: officials
  Reuters
• Gundlach Says Stocks to Fall Beyond Lows Reached in March
  Bloomberg
• Food Security Fears Starting to Threaten Rice Exports in Asia
  Bloomberg
• How Powell and Mnuchin Became the Duo in Charge of Saving the Economy
  NYT
• U.S. Braces for Surge in Coronavirus Patients
  WSJ
• The Federal Reserve unshackled
  FT
• Bond manager seeks waiver to avoid fire sale of junk bonds
  FT

Afternoon

• Dow drops 400 points as stocks close out their worst first quarter ever
  CNBC
• Oil ends March with biggest monthly and quarterly losses ever
  Reuters
• Trump calls for $2 trillion infrastructure bill to help economy during coronavirus crisis
  Reuters
• Gov. Cuomo says coronavirus is ‘more dangerous’ than expected as New York cases jump 14% overnight to 75,795
  CNBC
• Coronavirus live updates: New York cases jump to over 75,000 as ambulances, trucks and paramedics are sent to NYC
  CNBC
• New York state just surpassed China’s Hubei province for reported coronavirus cases
  CNBC
• With hospitals under siege, U.S. to build hundreds of temporary coronavirus wards
  Reuters
• 'Sailors do not need to die,' warns captain of coronavirus-hit U.S. aircraft carrier
  Reuters
• Cash-starved Latam companies rush for credit as govt help lags
  Reuters
• Trump Dusts Off Infrastructure Ideas, Urges $2 Trillion Spending
  Bloomberg
• Italy and Spain Point to Covid-19’s Staggering Oil-Demand Hit
  Bloomberg
• The Oil Glut Is Getting Critical
  WSJ
• Banks say Fed rescue threatens mortgage hedging strategies
  FT

General

• Stock fall more than 1% as the Dow heads for its worst first quarter ever
  CNBC
• Stocks end worst quarter since 2008 with small recovery
  Reuters
• Dollar surges on quarter-end flows; outlook robust
  Reuters
• Oil rises after 18-year lows prompt U.S.- Russia talks plan
  Reuters
• Coronavirus live updates: More Americans died from coronavirus than 9/11 attacks, airlines to consolidate routes
  Reuters
• Fed broadens access to dollars with repo agreement for foreign central banks
  Reuters
• Explainer: What the Federal Reserve has done in the coronavirus crisis
  Reuters
• Home price gains were strong in January, says S&P Case-Shiller, before coronavirus hit US economy
  CNBC
• Japan's factory output slows, plunge seen as virus grips economy
  Reuters
• China March factory activity unexpectedly expands, but outlook still grim
  Reuters
• Nightmare Haunting Euro Founders May Be a Reality With Italy
  Yahoo/Bloomberg
• KFC owner Yum Brands breaks junk debt market's four-week fast
  Reuters
• Australia's AAA rating under a cloud as debt, deficit blow out
  Reuters
• Tokyo records most new coronavirus cases in a day as pressure for lockdown builds
  Reuters
• Brazil's jobless rate rises to 11.6% in three months to February - IBGE
  Reuters
• Goldman Sachs Sees 34% Plunge in U.S. GDP and 15% Unemployment
  Bloomberg
• White House, Congress Weigh Next Stimulus With Virus Spreading
  Bloomberg
• BOJ Fix for Bank Funding Sparks Turmoil in Japan’s Repo Market
  Bloomberg
• Hedge Demand Shows ‘No Faith in This Rally,’ Credit Suisse Says
  Bloomberg
• Turkey Widens Emergency Response With Central Bank’s Bond Buying
  Bloomberg
• U.S. Retail Crisis Deepens as Hundreds of Thousands Lose Work
  NYT
• Big banks left hanging after ‘disaster’ in risky loan market
  FT
• Dealmaking grinds to a halt on coronavirus impact
  FT
• Fed to Launch New Lending Facility for Foreign Central Banks
  WSJ
• Credit Hedge Fund Suspends Redemptions in Sign of Market Stress
  WSJ
• Huawei Warns U.S. of Retaliation by Beijing; Profit Growth Slows
  WSJ

Monday, March 30, 2020

Evening

• Stocks continue their rebound from coronavirus plunge, Dow jumps 3%
  CNBC
• Brent tumbles to lowest since 2002, U.S. crude dips below $20/bbl
  Reuters
• Emerging Markets - Mexico's peso leads Latam FX lower, Stocks edge up
  Reuters
• Coronavirus live updates: Global cases continue to climb, tops 782,000
  CNBC
• Coronavirus drives U.S. March auto sales off a cliff
  Reuters
• Texas business activity falls off the coronavirus cliff
  Reuters
• Unknowns Await Emerging Markets After Biggest Moves Since 2008
  Yahoo/Bloomberg
• China Clashes at Virus Epicenter Show Risks Facing Xi Jinping
  Yahoo/Bloomberg
• Rent strike idea gaining steam during coronavirus crisis
  AP
• A Quarter of Annual Buyback Volume Was Yanked by Goldman Clients
  Bloomberg
• U.S. Prepares for Prolonged Shutdowns as Coronavirus Strains Hospitals
  WSJ
• The Fed Transformed: Jay Powell Leads Central Bank into Uncharted Waters
  WSJ
• Pressure Mounts on Insurance Companies to Pay Out for Coronavirus
  WSJ
• Emerging market central banks embark on radical stimulus policies
  FT
• Staying at home is a luxury many Indian workers cannot afford
  FT
• South Africa’s rand hits record low after debt downgrade
  FT

Afternoon

• Wall St. gains as investors weigh stimulus against shutdown
  Reuters
• Coronavirus live updates: Maryland issues strict penalties for stay-at-home order violations, USNS Comfort arrives in NYC
  CNBC
• Coronavirus job losses could total 47 million, unemployment rate may hit 32%, Fed estimates
  CNBC
• Deaths, intubations swamp New Orleans doctors in coronavirus surge
  Reuters
• Governor issues stay-at-home order for South Florida
  The Hill
• Italy Risks Losing Grip in South With Fear of Looting, Riots
  MSN/Bloomberg
• Indian police fire tear gas at jobless workers defying coronavirus lockdown
  Reuters
• Volatility ‘Earthquakes’ Keep Lashing Wall Street’s Risk Models
  Bloomberg
• ‘Little Flu’ Can’t Hurt Him: Why Bolsonaro Still Shuns Lockdowns
  Bloomberg
• ECB Bought Record Amount of Debt Last Week in Virus Fight
  Bloomberg

General

• Dow jumps 200 points as Wall Street continues last week’s rebound after virus measures extended
  CNBC
• Oil plunges to 2002 lows, shares sink again
  Reuters
• U.S. crude dips below $20 as lockdowns wipe out demand
  Reuters
• Dollar, yen up as investors seek shelter amid pandemic crisis
  Reuters
• China unexpectedly cuts reverse repo rate by most in 5 yrs to support virus-hit economy
  Reuters
• Coronavirus live updates: New US cases outpace world, J&J eyes human vaccine testing
  CNBC
• Goldman on how the ‘largest economic shock of our lifetimes’ will permanently alter energy markets
  CNBC
• Mortgage bankers warn Fed mortgage purchases unbalanced market, forcing margin calls
  CNBC
• China Rejoins Global Monetary Easing Wave as World Shutdowns Hit
  Yahoo/Bloomberg
• DoJ reviews stock trades by lawmakers after coronavirus briefings: CNN
  Reuters
• Syria reports first coronavirus death as fears grow of major outbreak
  Reuters
• Short-selling bans not useful - stock exchanges federation
  Reuters
• Zoltan Pozsar and Perry Mehrling On The Historic Crisis Of Financial Market Plumbing
  Bloomberg
• Australia’s Banking Chiefs Warn of Extreme Economic Pain Ahead
  Bloomberg
• After Coronavirus, We Will Have to Reckon With the Debt
  WSJ
• Hidden Chinese Lending Puts Emerging-Market Economies at Risk
  WSJ
• Bad debt surge threatens Chinese banks’ balance sheets
  FT

Sunday, March 29, 2020

Evening

• Dow futures drop more than 300 points as Wall Street gives back some of last week’s gains
  CNBC
• Crude oil futures drop at open on grim demand outlook
  Reuters
• President Trump extends national social distancing guidelines through April 30
  CNBC
• ‘Nothing is out of the question’: What it would take for the Fed to start buying stocks
  CNBC
• China’s Big Banks Brace for the Worst After Record Profit Run
  Bloomberg
• America’s Make-or-Break Week
  WSJ
• US companies seek clarity on $454bn lending fund
  FT

Afternoon

• US could see millions of coronavirus cases and 100,000 or more deaths, Fauci says
  CNN
• Coronavirus live updates: Field hospital set up inside Central Park, Moscow tightens coronavirus rules
  CNBC
• Michigan and Louisiana are becoming virus hot spots — their governors warn supplies are running out
  CNBC
• The coronavirus is starting to hit rural America hard—here’s a map of the counties most affected
  CNBC
• ‘It’s no different from New York’: Urban centers nationwide gird for catastrophic virus outbreak
  MSN/Washington Post
• Partisan divide returns in U.S. Congress on coronavirus next steps
  Reuters
• Italy coronavirus deaths rise by 756, lifting total death toll to 10,779
  Reuters
• Britons warned some coronavirus lockdown measures could last months
  Reuters
• Virus forces Europeans to ask: How united do we want to be?
  AP
• After Fed Unleashes Firepower, Washington Rearms Central Bank
  WSJ
• Coronavirus Threatens to Overwhelm Cities’ Social Safety Net
  WSJ

General

• Coronavirus live updates: States ramp up testing, Gov. Phil Murphy responds to CDC’s tri-state area travel advisory
  CNBC
• Worry, problems and strife: Investors fear markets not out of woods despite big rally
  Reuters
• Pence says virus taskforce soon to deliver recommendation on whether to re-open economy
  Reuters
• Florida coronavirus cases pass 4000: state border checkpoints begin, vacation rentals halted
  USAT
• Coronavirus crisis puts EU credibility on the line, says France
  Reuters
• Tokyo coronavirus cases jump in record daily rise: NHK
  Reuters
• A Global Consumer Default Wave Is Just Getting Started in China
  Bloomberg
• The Global Oil Market Is Broken, Drowning in Crude Nobody Needs
  Bloomberg
• After Three Coronavirus Stimulus Packages, Congress Is Already Prepping Phase Four
  WSJ
• Coronavirus Threatens to Overwhelm Cities’ Social Safety Net
  WSJ
• Coronavirus Pandemic Compels Historic Labor Shift
  WSJ
• Can the world afford fiscal and monetary stimulus on this scale?
  FT
• Officials warn Africa is at ‘break the glass’ moment
  FT

Saturday, March 28, 2020

Evening

• New York City coronavirus cases reach nearly 30,000 with a death every 9.5 minutes
  MarketWatch
• New York Gov. Cuomo says Trump has no authority to impose quarantine: ‘It would be illegal’
  CNBC
• Coronavirus live updates: NY Gov balks at federal quarantine talk, CDC warns on chloroquine
  CNBC
• Italy coronavirus death toll surges past 10,000; lockdown extension likely
  Reuters
• Spain orders non-essential workers stay home for two weeks
  UK Guardian
• How Spain became a hotspot for coronavirus
  CNN

General

• Trump is considering ‘enforceable’ quarantine on New York, New Jersey and parts of Connecticut
  CNBC
• Coronavirus live updates: Shellshocked Spain reports record deaths, nurses plead for gear
  CNBC
• Trump pushes back against congressional oversight for $500 billion bailout fund
  CNBC
• As virus threatens, U.S. embraces big government, for now
  Reuters
• Hawks no more: Fiscal conservatives embrace rescue package
  AP
• Fed action pushes top-rated U.S. corporate bond issuance to record
  Reuters
• With eye on election, Trump in high-stakes balancing act over coronavirus response
  Reuters
• The US economy has come to a standstill, satellite imagery shows
  CNBC
• Shellshocked Spain reports record 832 new coronavirus deaths
  Reuters
• China readies stimulus measures as local virus cases dwindle
  Reuters
• The Fed Brings the Global Financial System Back From the Abyss
  Bloomberg
• Fed Lifeline Shields Bond Funds Teetering on Brink of ETF ‘Hell’
  Bloomberg
• Fed Set to Dial Back Pace of QE Treasury Buying Next Thursday
  Bloomberg
• Global Economic Fallout Grows as Coronavirus Cases Pass 600,000
  WSJ
• Coronavirus Pushes Some Emerging Markets to Brink of Default
  WSJ
• Allianz Global Investors Liquidates Two Hedge Funds
  WSJ
• Oil bust and pandemic strike double blow for Texas
  FT