Tuesday, March 17, 2020

Tuesday Evening Links

[CNBC] Dow rebounds more than 1,000 points as Trump seeks $1 trillion in stimulus for coronavirus fight

[Reuters] Fed moves to backstop funding for U.S. companies as coronavirus fallout spreads

[Reuters] Fed plans steps to ease short-term borrowing for companies

[Reuters] NY Fed says it will offer an additional $500 billion in overnight repo on Tuesday

[Reuters] Senate weighs emergency coronavirus pandemic funds; Trump seeks $850 billion more

[CNBC] Mnuchin says Trump administration is looking to get cash to Americans ‘immediately’

[CNBC] Regulators considering more changes to free up bank liquidity, sources say

[CNBC] Coronavirus live updates: Malaysia closes border, Italy death toll crosses 2,500

[CNBC] China expels journalists from New York Times, Wall Street Journal and Washington Post

[CNBC] Homebuilder sentiment falls, as coronavirus begins to factor in

[CNBC] New York state coronavirus cases soar to more than 1,300, hospitalizing 19%

[NY Post] 86% of people with coronavirus are walking around undetected, study says

[Reuters] UK confirmed coronavirus cases rise 26% to 1,950 in past 24 hours

[Reuters] Europe to shut borders as lengthy virus crisis looms

[Reuters] Spain unveils 'unprecedented' 200 billion euros coronavirus package

[Bloomberg] Fed Restarts Commercial Paper Facility to Ease Market Strain

[Bloomberg] Stocks Locked In to Credit’s Vortex With Solvency Risk Spreading

[NYT] Fed Unveils Emergency Lending Program to Shore Up Business Credit Markets

[WSJ] Lessons from Italy’s Hospital Meltdown. ‘Every Day You Lose, the Contagion Gets Worse.’

[FT] Rise in Italian yields has echoes of eurozone debt crisis

[FT] Global funding squeeze forces dollar higher

[FT] US leveraged loan prices slump to lowest since financial crisis

Tuesday's News Links

[Reuters] Stocks higher after Wall Street's steepest plunge since 1987

[Reuters] German Bund yields reach one-month high, French, Spanish sell-off continues

[Reuters] Asian stocks fall in volatile session after historic Wall St. plunge

[Reuters] Oil falls to $30 on recession fears and Saudi pump war

[Reuters] Offshore dollar funding markets flash amber as squeeze intensifies

[Reuters] Trump administration to seek $850 billion to stem virus' economic fallout: report

[Reuters] Trump and U.S. states ramp up drive to slow spread of coronavirus

[AP] Retail sales fall 0.5% in February, indicating weakness before virus hit with force

[Reuters] Large U.S. banks plan to access Fed's discount window

[CNBC] Coronavirus live updates: Iran frees prisoners; Macron says ‘we are at war’

[Reuters] Coronavirus to cause global recession, surge in defaults: S&P Global

[Reuters] Goldman sees China's economy shrinking 9% in first quarter amid coronavirus outbreak

[Reuters] Turkish central bank cuts rates early, by 100 basis points

[Bloomberg] Treasury Futures Domino That Helped Drive Fed’s $5 Trillion Repo

[Bloomberg] ECB Provides Banks With $120 Billion to Prevent Squeeze

[Bloomberg] Central Banks Preferring to Blast Through Ammo, Not Save It

[Bloomberg] Evaporated, Collapsed: Strategists Dissect Stock Liquidity Woes

[Bloomberg] France Ready to Nationalize Firms as EU Heavyweights Take Charge

[Bloomberg] India Could be Next Virus Hotspot With an ‘Avalanche’ of Cases

[Bloomberg] ‘We Call It Uninvestible’: Views on Markets After Another Rout

[Bloomberg] Trump’s ‘Chinese Virus’ Tweet Adds Fuel to Fire With Beijing

[NYT] As Market Convulses, Big Banks Plan to Borrow Funds From Fed

[WSJ] Fed Deploys Its Full Arsenal, but It Still Has Some Tools

[WSJ] How Bad Could Markets Get? History Says Much Worse

[WSJ] A Generational War Is Brewing Over Coronavirus

[FT] Coronavirus forces Manila to shut all financial markets

[FT] Coronavirus sell-off weighs heavily on bond and equity issuance