Friday, February 28, 2020

Friday Evening Links

[SCMP] Coronavirus: China’s factories activity plunges to all-time low, worse than global financial crisis, February data show

[Reuters] S&P 500 drops for seventh day, posts biggest weekly fall since 2008 crisis

[Reuters] Dollar dives to seven-week low against yen on Fed rate cut hint

[CNBC] Trump says he hopes the Fed gets involved ‘soon’ to combat market sell-off from coronavirus

[CNBC] Fed’s Powell says coronavirus poses ‘evolving risks,’ pledges to ‘act as appropriate’ for economy

[CNBC] WHO raises coronavirus threat assessment, now says virus poses a ‘very high’ risk at a global level

[CNBC] Bill Gates: Coronavirus may be ‘once-in-a-century pathogen we’ve been worried about’

[Reuters] Iran rejects BBC Persian report of at least 210 coronavirus deaths

[Reuters] Exclusive: Tokyo has no 'Plan B' for Games despite coronavirus

[Reuters] Explainer: How U.S. markets will function if coronavirus breaks out in NYC

[Bloomberg] Powell Opens Door to Rate Cut on ‘Evolving’ Risks From Virus

[Bloomberg] China Posts Weakest Factory Activity on Record

[Bloomberg] History’s Fastest Crash Is the High Price for Unbridled Optimism

[Bloomberg] U.S. Consumer Sentiment Holds Up in Second Half of February

[NYT] Pence Will Control All Coronavirus Messaging From Health Officials

Friday's News Links

[Reuters] Dow drops 1,000 points as pandemic fears heighten

[CNBC] 10-year Treasury yield collapses to another record low of 1.16%, 2-year rate tumbles below 1%

[Reuters] Yen soars as investors stampede to safety

[MarketWatch] Global oil benchmark falls to 2 1/2-year low as coronavirus sparks demand fears

[Reuters] U.S. consumer spending slows in January; income surges

[CNBC] Coronavirus: WHO warns virus could spread to every country, Mexico confirms first case

[Reuters] WHO warns of coronavirus spreading worldwide as five countries report first cases

[CNBC] Fed’s James Bullard says rate cuts possible only if coronavirus turns into pandemic

[Reuters] World prepares for coronavirus pandemic; global recession forecast

[Reuters] South Korea coronavirus cases raises to 2,337, BTS cancels concert

[Reuters] Iran closes schools as coronavirus death toll rises to 34

[CNBC] Ex-Fed Gov Warsh sees coordinated global central bank action soon in response to COVID-19

[Reuters] India's economy grows slowly in Dec quarter, with virus impact to come

[Bloomberg] A Brief History of Central Bank Coordination as Debate Heats Up

[Bloomberg] Yen and Euro Stage World-Beating Rallies in Week of Market Chaos

[Bloomberg] Libor Plunges Most Since 2008 After Virus Spurs Bets on Fed Cuts

[Bloomberg] China Makes Bad Loans Disappear as Virus Pummels Banking System

[Bloomberg] Punch-Drunk Traders Now Focus Simply on ‘Survival, Not Returns’

[NYT] Virus Disrupts China’s Shipping, and World Ports Feel the Impact

[WSJ] Euro’s Surge Shows Power of Carry Trades Unwinding

[WSJ] The Invisible Forces Exacerbating Market Swings

[FT] Doubts cast on Federal Reserve’s ability to handle a pandemic