Daily News Links

8603 posts

Friday, March 27, 2020

Evening

• Dow drops more than 900 points on Friday, but still finishes higher for the week
  CNBC
• Oil plunges posting fifth straight weekly loss despite stimulus efforts
  Reuters
• Dollar posts biggest weekly fall since 2009
  Reuters
• Trump signs $2 trillion coronavirus relief bill as the US tries to prevent economic devastation
  CNBC
• House passes $2 trillion coronavirus stimulus bill, sends it to Trump
  CNBC
• Coronavirus live updates: Italy death toll crosses 9,000, Congress green-lights relief bill
  CNBC
• Coronavirus cases top half a million, protective gear lacking: WHO
  Reuters
• Experts Say The U.S. Needs A National Shutdown ASAP — But Differ On What Comes Next
  NPR
• Cash handouts and bond buying: $10 trillion-plus deployed against virus
  Reuters
• Trump orders General Motors to make ventilators under Defense Production Act
  CNBC
• Elevated Wall Street 'fear gauge' shows doubts about stock market rebound
  Reuters
• Coronavirus aid deal is no panacea for coming U.S. state budget woes
  Reuters
• Four passengers die on cruise ship with coronavirus outbreak off Panama
  Reuters
• Federal Reserve Considering Additional Support for State, Local Government Finance
  WSJ
• Fed’s big boost for BlackRock raises eyebrows on Wall Street
  FT
• India’s sudden lockdown threatens food supply chains
  FT

General

• Stocks fall after three-day surge as virus fears grow
  Reuters
• European shares fall as investors take stock of spreading virus
  Reuters
• Oil mixed on stimulus hopes and demands fears
  Reuters
• British PM Boris Johnson self-isolates after testing positive for coronavirus
  Reuters
• Coronavirus live updates: Xi calls for global coordination, China suspends entry for most foreigners
  CNBC
• Spain's coronavirus death toll rises by 769 overnight to 4,858
  Reuters
• Coronavirus deals one-two financial punch to state budgets
  AP
• G20 leaders to inject $5 trillion into global economy in fight against coronavirus
  Reuters
• U.S. banks borrow at discount window after Fed offers stigma relief
  Reuters
• U.S. increases support for Taiwan in recognition battle with China
  Reuters
• Oil Pain Spreads Beyond Permian to Small Towns Across America
  Bloomberg
• Echoes of 1997 Asia Financial Crisis Haunt Region’s Debt Market
  Bloomberg
• The Second Virus Shockwave Is Hitting China’s Factories Already
  Bloomberg
• Fearing Next Wave, China Doesn’t Want Its Diaspora Coming Back
  Bloomberg
• Mnuchin Forms Task Force on Mortgage Firms’ Cash Crunch
  WSJ
• Hidden infections challenge China’s claim coronavirus is under control
  FT

Thursday, March 26, 2020

Evening

• Federal Reserve’s Balance Sheet Tops $5 Trillion for First Time
  Yahoo/Bloomberg
• Dow rallies more than 1,300 points, capping its biggest 3-day surge since 1931
  CNBC
• Oil sheds more than $1 as weakening demand outweighs stimulus hopes
  Reuters
• Exclusive: Top CDC official warns New York's coronavirus outbreak is just a preview
  The Hill
• New York, New Orleans hospitals reel as U.S. coronavirus death toll tops 1,000
  Reuters
• NYC doctors say coronavirus is worse than 9/11: ‘There’s no escaping this’
  NY Post
• U.S. home healthcare industry warns of possible 'collapse'
  Reuters
• Exclusive: U.S. prepares crackdown on Huawei's global chip supply - sources
  Reuters
• High-Grade Bond Funds Shed $38 Billion, Extending Record Exodus
  Bloomberg
• How the Fed’s Magic Money Machine Will Turn $454 Billion Into $4 Trillion
  NYT
• Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package
  NYT
• U.S., China Trade Blame for Coronavirus, Hampering Global Economy Rescue
  WSJ
• US overtakes China for most confirmed coronavirus cases
  FT

Afternoon

• Wall Street rallies as job losses stir talk of more stimulus
  Reuters
• Gold jumps as record high U.S. jobless claims fuel stimulus hopes
  Reuters
• WTI crude oil extends daily loss to 7%
  FXLive
• Pelosi expects bipartisan House vote for $2 trillion coronavirus bill Friday
  Reuters
• Coronavirus live updates: Market takes US job losses in stride as global cases near 500,000
  CNBC
• New York coronavirus cases soar to 37,258 as state scrambles for ventilators
  CNBC
• Cuomo says ‘reckless’ $2 trillion coronavirus bill fails to help New York’s revenue loss
  CNBC
• U.S. banks to score accounting, capital relief in $2 trillion rescue package
  Reuters
• China prepares to close borders to foreigners, fearing 2nd wave of COVID-19
  CBC
• The coronavirus may be deadlier than the 1918 flu: Here’s how it stacks up to other pandemics
  CNBC
• US virus deaths may top 80,000 despite confinement: study
  Yahoo
• Bond market pricing ‘hasn’t recognized the new reality.’ Here’s why that’s an issue for bond ETFs
  CNBC
• Canada triples potential mortgage securities buying to C$150 billion
  Reuters
• S&P, Moody’s Cut Credit Grades at Fastest Pace Since 2008 Crisis
  Bloomberg
• ECB Steps Up ‘Whatever It Takes’ Fight to Save Euro Area
  Bloomberg
• China Is Open for Business, but the Postcoronavirus Reboot Looks Slow and Rocky
  WSJ
• Why the US Federal Reserve turned again to BlackRock for help
  FT

General

• Stocks rally for a third straight day, Dow now up 800 points
  [CNBC
• Japan shares drop more than 4% as investors await jobless claims data stateside
  CNBC
• Oil prices mixed as demand shrinks, but stimulus hopes support
  Reuters
• US weekly jobless claims soar to a record-breaking 3.28 million, vs 1.5 million expected
  CNBC
• After Senate vote, massive U.S. coronavirus bill moves to the House
  Reuters
• Fed's Powell: U.S. may be in recession, control of virus to dictate timing of economy reopening
  Reuters
• Coronavirus live updates: US deaths soar past 1,000, according to Johns Hopkins University
  CNBC
• Europe’s Leaders Ditch Austerity and Fight Pandemic With Cash
  NYT
• Fed Is ‘Not Going to Run Out of Ammunition,’ Powell Vows
  Bloomberg
• PBOC Acts to Stabilize Yuan After Currency Underperforms Peers
  Bloomberg
• Fed’s Anti-Virus Lending Firepower Could Reach $4.5 Trillion
  Bloomberg
• Risky U.S. Mortgages Face Reckoning in Market Spooked by Crisis
  Bloomberg
• How The Crisis Nearly Blew Up One Of The World’s Safest Trades
  Bloomberg
• Investors, Fearing Defaults, Rush Out of Junk Bonds
  WSJ
• Coronavirus Pandemic’s Global Economic Toll Mounts
  WSJ
• Why $2 Trillion Could Be Just the Start
  WSJ
• When central banks take over securities markets
  FT
• Coronavirus could wipe out US bank profits, says S&P
  FT
• Coronavirus shutdowns cause glitches in gold market
  FT
• Ford downgrades plunge its $36bn of debt into junk market
  FT
• Coronavirus threatens India’s banking recovery before it even starts
  FT

Wednesday, March 25, 2020

Evening

• Dow jumps more than 2%, posts first back-to-back gain since February
  CNBC
• Negative rates come to the US: 1-month and 3-month Treasury bill yields are now negative
  CNBC
• Coronavirus live updates: Hundreds flood NYC hospital ICU, ERs; global cases top 466,000
  CNBC
• World’s Rich Struggle to Get Hold of Gold in ‘Crazy’ Moment
  Yahoo/Bloomberg
• New York City hospitals are nearly ‘maxed out,’ former FDA chief says
  CNBC
• Bolsonaro calls Brazil coronavirus lockdown a 'crime', faces backlash
  Reuters
• Draghi: We face a war against coronavirus and must mobilise accordingly
  Free FT
• Absorb shock now or face permanent destruction, Draghi warns: FT
  Reuters
• Distressed Debt Balloons to Almost $1 Trillion, Nears 2008 Peak
  Bloomberg
• Oil’s 60% Crash Is the Tip of an Iceberg. The Reality Is Worse
  Bloomberg
• Gold Coins Have Never Sold at a Premium This High for This Long
  Bloomberg

General

• Stocks rebound passes 10% after $2 trillion U.S. stimulus boost
  Reuters
• White House, Senate reach deal on $2 trillion stimulus package
  The Hill
• U.S. Congress, negotiators reach deal on $2-trillion coronavirus aid package
  Reuters
• Coronavirus live updates: Prince Charles tests positive, Target withdraws forecast
  CNBC
• Coronavirus sweeps across New York, California fears it could be next
  Reuters
• US durable goods orders rose 1.2% in February, vs 0.8% drop expected
  CNBC
• Weekly mortgage applications tank 29% as coronavirus sidelines homebuyers
  CNBC
• Coronavirus stimulus package to exceed $6T, Larry Kudlow says
  NY Post
• Bank of Japan sees deeper economic pain, even after emergency easing
  Reuters
• Worldwide Dollar Crunch Raises Red Flags in Asia Debt Market
  Bloomberg
• Chinese Firms Either Fine or In Trouble, Depending Where You Are
  Bloomberg
• Loss Rate on Banks’ Real-Estate Loans Expected to Soar
  WSJ
• Look to Japan for Potential Emergency Moves From the Fed
  WSJ
• US shale bust wrecks hopes for energy independence
  FT
• Dash for cash: companies draw $124bn from credit lines
  FT
• The liquidity ‘doom loop’ in bond funds is a threat to the system
  FT
• More Reits warn they are unable to meet cash calls
  FT
• Scientists hopeful warmer weather can slow spread of coronavirus
  FT

Tuesday, March 24, 2020

Evening

• Stocks, gold surge on new stimulus from Fed, others
  Reuters
• Dow posts biggest percentage gain since 1933 on stimulus hopes
  Reuters
• 'Very close:' $2 trillion coronavirus aid deal takes shape in U.S. Congress
  Reuters
• White House tells anyone who has left NYC that they should self quarantine
  CNBC
• President Trump pushes to reopen U.S. economy, state governors push back
  Reuters
• Coronavirus live updates: Trump wants to ‘reopen’ economy by Easter, telemedicine OK’d for veterinarians
  CNBC
• Italy coronavirus deaths rise by 743 in a day, lifting total death toll to 6,820
  Reuters
• China’s Government Faces Worst Fiscal Stress Since 2009
  Bloomberg
• The Stock Buyback Binge May Be Over. For Now.
  NYT
• The West Is Misinterpreting Wuhan’s Coronavirus Progress—and Drawing the Wrong Lessons
  WSJ
• Goldman Sachs tells clients it is time to buy gold
  FT
• Non-bank lenders will bear brunt of credit crisis
  FT

Afternoon

• Market comeback gains steam as Dow soars 1,600 points on stimulus deal hope
  CNBC
• Coronavirus live updates: New York cases soar to over 25,000, India locks down its 1.3 billion people
  CNBC
• Cuomo: Coronavirus infections growing faster than expected in NY; state needs help
  Newsday
• Coronavirus sinks U.S. business activity to record low: IHS Markit
  Reuters
• U.S. new home sales fall; January revised sharply up
  Reuters
• U.S. could become next coronavirus epicenter, WHO says
  Reuters
• Surveys show coronavirus pandemic savaging global economy
  Reuters
• Goldman says buy gold now: ‘Time to buy the currency of last resort’
  CNBC
• India’s prime minister orders lockdown of country of 1.3 billion people for 21 days
  CNBC
• Norwegian unemployment hits more than 80-year high 10.9% due coronavirus
  Reuters
• Airlines double estimated hit from coronavirus to $250 billion
  Reuters
• Hoping to escape coronavirus, city dwellers are fleeing to California's deserts and mountains
  MSN/LA Times
• In World’s Most Vulnerable Countries, the Pandemic Rivals the 2008 Crisis
  NYT

General

• Wall Street bounces from three-year lows
  Reuters
• Gold prices extend rally, surge by most in 11 years amid tight supplies and regime of limitless stimulus
  MarketWatch
• Oil prices rise as US ramps up economic support measures
  CNBC
• Nikkei jumps nearly 7% on hopes of BOJ buying; SoftBank Group soars
  Reuters
• Crude edges higher, U.S. gasoline slumps over 30% on sinking demand
  Reuters
• Congress is getting closer to a deal on the massive coronavirus stimulus bill
  CNBC
• Coronavirus live updates: New cases surge in Spain; Dow futures jump
  CNBC
• Q&A: What did the Fed do Monday and who will it help?
  AP
• Banks borrow record $89.3 bln from BOJ's dollar funding operations on Tuesday
  Reuters
• Fed's big move could help U.S. Treasury liquidity, but effects may not last long
  Reuters
• The Fed is providing way more help for the markets now than it did during the financial crisis
  CNBC
• Spain reports 6,600 new coronavirus cases overnight, over 500 dead
  Reuters
• German coronavirus cases rise by 4,764 cases to 27,436: Robert Koch Institute
  Reuters
• Italian coronavirus cases likely "10 times higher than reported"
  Reuters
• March FX daily turnover hits $2.3 trln as virus fuels volatility - CLS
  Reuters
• Euro-Zone Economy Crashes on Coronavirus Business Shutdowns
  Bloomberg
• Gold Rallies as Goldman Sees ‘Inflection Point’ After Sell-Off
  Bloomberg
• China’s Companies Have Worst Quarter on Record, Beige Book Says
  Bloomberg
• Grim News Blunts Federal Reserve’s Crisis Response
  NYT
• Negotiators Aim to Wrap Up Talks Tuesday on U.S. Stimulus Package
  WSJ
• Businesses Can’t Pay Rent. That’s a Threat to the $3 Trillion Commercial Mortgage Market
  WSJ
• Bezos, Other Corporate Executives Sold Shares Just in Time
  WSJ
• China property sector shows signs of deterioration
  FT
• From cover-up to global donor: China’s soft power play
  FT
• Oil industry faces biggest crisis in 100 years
  FT
• Companies axe dividends in global push for cash
  FT
• DE Shaw quant fund takes hit from markets gone haywire
  FT

Monday, March 23, 2020

Evening

• Dow futures rise more than 200 points as Senate haggles over virus bill
  CNBC
• Japan stocks jump almost 4% as Fed ramps up stimulus measures
  CNBC
• No more votes expected Monday after Senate coronavirus stimulus bill fails again
  CNBC
• Coronavirus live updates: US cases top 43,000, Florida institutes New York and New Jersey travel rules
  CNBC
• U.K. Prime Minister Boris Johnson orders nationwide lockdown
  Axios
• CDC says coronavirus survived in Princess Cruise ship cabins for up to 17 days after passengers left
  CNBC
• Quants Are Liquidating Stock Exposures at Fastest Pace on Record
  Bloomberg
• Mortgage Industry Proposes Plan for One-Year Payment Deferrals
  Bloomberg
• The Fed’s Message: The Money-Printing Presses Are Fired Up and Ready to Go
  NYT
• Fed Unveils Major Expansion of Market Intervention
  WSJ
• Federal Reserve’s full firepower fails to arrest slide in markets
  FT
• The Federal Reserve has gone well past the point of ‘QE infinity’
  FT

Afternoon

• Dow sheds another 3% after coronavirus stimulus bill fails in Senate for a second time
  CNBC
• Coronavirus stimulus bill blocked again in Senate as talks continue
  CNBC
• U.S. credit spreads narrow after unprecedented Fed stimulus
  Reuters
• Brent crude extends fall as coronavirus shutdowns sap demand
  Reuters
• House Democrats to introduce a coronavirus stimulus plan Monday as Senate bill stalls
  CNBC
• Coronavirus live updates: Schumer says deal is close on stimulus bill, US mayors ask for protective equipment ‘now’
  CNBC
• Talks on coronavirus stimulus bill continue, vote pushed to noon
  CNBC
• New York coronavirus cases surge 38% overnight to 20,875
  CNBC
• This was the fastest 30% sell-off ever, exceeding the pace of declines during the Great Depression
  CNBC
• Germany launches 750 billion euro package to fight coronavirus
  Reuters
• Italy's coronavirus deaths slow, offering glimmer of hope
  Reuters
• Over 1.5 billion globally asked to stay home to escape virus
  AP
• Here’s everything the government has done to limit the economic destruction of coronavirus
  CNBC
• Stay-Home Decrees Crush Small Business, Erasing Millions of Jobs
  Bloomberg
• ECB Buys Most Bonds Since 2017, Even Before Latest Increase
  Bloomberg
• Bond Markets Embrace Fed’s Latest Debt-Buying Programs
  WSJ
• Mortgage Firm Struggles to Meet Margin Calls as Market Turmoil Continues
  WSJ
• As Economic Toll Mounts, Nation Ponders Trade-Offs
  WSJ
• ‘Great liquidity crisis’ grips system as banks step back
  FT

General

• Stocks fall even after Fed pledges unlimited asset purchases and Mnuchin says stimulus deal is close
  CNBC
• Stocks crumble as more nations shut for business to curb virus
  Reuters
• Treasuries - Yields tick up after Fed announces unprecedented stimulus
  Reuters
• Oil reverses losses, jumps 4% after Fed promises aggressive asset purchases to support markets
  Reuters
• The Federal Reserve just pledged asset purchases with no limit to support markets
  CNBC
• Fed takes aggressive new steps to combat coronavirus hit to economy
  Reuters
• Federal Reserve to lend up to $300B to businesses, cities
  AP
• Mnuchin says Congress is ‘very close’ to a stimulus agreement and must get it done ‘today’
  CNBC
• Coronavirus relief bill hits snag in U.S. Senate, talks continue
  Reuters
• Coronavirus live updates: Deaths in Spain surge, broad testing ‘weeks if not months’ away
  CNBC
• A Fed 'bailout' for Main Street? Speed, collateral stand in the way
  Reuters
• Much more serious than the 2008 crisis, former BoE Governor King says
  Reuters
• Wealth managers rein in leverage as clients battle markets downturn-sources
  Reuters
• Millions in India under coronavirus lockdown as major cities restrict daily life
  CNN
• Fed Ready for Unlimited QE and Aid for Companies, Municipalities
  Bloomberg
• Mortgage Bond Sales Flood Market Amid Pleas for U.S. Help
  Bloomberg
• Rupee Sinks to Record With Stocks as India Heads for Lockdown
  Bloomberg
• Spat Between China Diplomats Signals Internal Split Over Trump
  Bloomberg
• The U.S. Needs China’s Masks, as Acrimony Grows
  NYT
• Federal Reserve Unveils Major Expansion of Market Supports
  WSJ
• Bond ETFs Flash Warning Signs of Growing Mismatch
  WSJ
• Turmoil means delicate dance between hedge funds and brokers
  FT
• Nationalism is a side effect of coronavirus
  FT
• Gold bars in short supply due to coronavirus disruption
  FT

Sunday, March 22, 2020

Evening

• Stock futures drop more than 4%, briefly hit ‘limit down’ as investors await a stimulus agreement
  CNBC
• Oil drops as much as 8%, extending declines after worst week since 1991
  CNBC
• Coronavirus stimulus bill fails in key Senate procedural vote
  CNBC
• Coronavirus stimulus bill tripped up by key Senate procedural vote
  CNBC
• Coronavirus live updates: Rand Paul tests positive, Trump activates National Guard in California, New York and Washington state
  CNBC
• Wall Street braces for another bleak week, with coronavirus risks amplified
  Reuters
• Fed Could Provide Massive Support for Business, States in Bill
  Bloomberg
• Real Estate Billionaire Barrack Says Commercial Mortgages on Brink of Collapse
  Bloomberg
• Globe-Spanning Volatility Trade Is Hit Hard by Market Slump
  WSJ
• Coronavirus-Led Slowdown Tests the Mettle of China’s Shadow Banks
  WSJ
• Why markets gave a big shrug to the Bank of Japan
  FT
• Chinese banks pump money into consumer loans
  FT

Afternoon

• As crisis deepens, congressional rescue deal teeters
  AP
• The government budget deficit is about to explode to fight the coronavirus
  CNBC
• Coronavirus live updates: Pelosi signals disagreement on massive relief package
  CNBC
• Italy coronavirus deaths rise by 651 in a day, lifting total death toll to 5,476
  Reuters
• China scrambles to curb rise in imported coronavirus cases, Wuhan eases lockdown
  Reuters
• Chancellor Angela Merkel in quarantine after contact with doctor who tested positive for coronavirus
  Reuters

General

• Virus aid bill includes $3,000 for families, $4 trillion liquidity for Fed: Mnuchin
  Reuters
• Congress is working on a massive coronavirus relief package — it might not be enough for businesses
  CNBC
• Fed’s Bullard: Coronavirus shutdown is not a recession but an investment in survival
  CNBC
• Coronavirus live updates: Fed’s Bullard calls shutdown ‘massive investment in public health’
  CNBC
• Explainer: Hobbled IRS tax agency may need months to put cash into Americans' hands
  Reuters
• NY airports, hospitals feel pressure as virus alarms grow
  Reuters
• Treasury Market in Tumult Stares Down $340 Billion More Debt
  Yahoo/Bloomberg
• Russia: Gulf nations, not us, to blame for oil prices fall -TASS
  Reuters
• Top Economists See Some Echoes of Depression in U.S. Sudden Stop
  Bloomberg
• Dire Dollar Shortage Shows World Failed to Fix Key Crisis Flaw
  Bloomberg
• Chinese Home Sales Point to Tentative Recovery After Collapse
  Bloomberg
• Bruised Hedge Funds Ask Clients for Fresh Cash to Buy the Dip
  Bloomberg
• Why It’s So Difficult to Stop the Spread of the Coronavirus
  WSJ
• White House adviser says US stimulus could top $2tn
  FT

Saturday, March 21, 2020

Evening

• U.S. Senate races to agree on massive coronavirus relief package
  Reuters
• Kudlow says coronavirus relief package worth more than $2 trillion
  CNBC
• Coronavirus live updates: FDA OKs ‘emergency use’ test, global cases top 300,000
  CNBC
• Italy deaths jump by almost 800 from coronavirus
  Reuters
• Spain warns the 'worst is yet to come' as coronavirus deaths surpass 1,300
  Reuters
• Exclusive: Goldman injects $1 billion into own money-market funds after heavy withdrawals
  Reuters
• China to stimulate private investment, accelerate 'new infrastructure' development
  Reuters

General

• U.S. seeks comments on tariff cuts for Chinese imports to aid coronavirus battle
  Reuters
• Coronavirus live updates: US hospitals seek $100 billion in aid, Spain death toll tops 1,300
  CNBC
• Congress toils on $1 trillion rescue, Trump unleashes fury
  AP
• Germany eyes 156 bln euros of new borrowing, 200 bln euros in debt authorisation
  Reuters
• EU executive moves to formalize suspension of EU budget rules
  Reuters
• Fed Already About Halfway Through Bond-Buying Announced Sunday
  Bloomberg
• U.S. Junk Bonds Enter Distress, Spreads Top 1,000 Basis Points
  Bloomberg
• Covid-19 Is Becoming the Disease That Divides Us: By Race, Class and Age
  Bloomberg
• China Orders Local Staff to Leave U.S. News Outlets in Beijing
  Bloomberg
• Coronavirus Recession Looms, Its Course ‘Unrecognizable’
  NYT
• American Oil Drillers Were Hanging on by a Thread. Then Came the Virus.
  NYT
• How Coronavirus Shut Down America
  WSJ
• Financial Engineering Made Risky Loans Seem Safe. Now They Face a Huge Test.
  WSJ
• BlackRock, Vanguard Raise Price of Cash Redemption for Some ETFs
  WSJ
• Corporate borrowing costs soar amid default fears
  FT
• Federal Reserve buys more mortgage bonds as rates rise above 4%
  FT