Tuesday, March 24, 2020

Tuesday Evening Links

[Reuters] 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

[CNBC] White House tells anyone who has left NYC that they should self quarantine

[Reuters] President Trump pushes to reopen U.S. economy, state governors push back

[CNBC] Coronavirus live updates: Trump wants to ‘reopen’ economy by Easter, telemedicine OK’d for veterinarians

[Reuters] Italy coronavirus deaths rise by 743 in a day, lifting total death toll to 6,820

[Bloomberg] China’s Government Faces Worst Fiscal Stress Since 2009

[NYT] The Stock Buyback Binge May Be Over. For Now.

[WSJ] The West Is Misinterpreting Wuhan’s Coronavirus Progress—and Drawing the Wrong Lessons

[FT] Goldman Sachs tells clients it is time to buy gold

[FT] Non-bank lenders will bear brunt of credit crisis

Tuesday Afternoon Links

[CNBC] 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

[Newsday] Cuomo: Coronavirus infections growing faster than expected in NY; state needs help

[Reuters] 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

[CNBC] 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

[Reuters] Norwegian unemployment hits more than 80-year high 10.9% due coronavirus

[Reuters] Airlines double estimated hit from coronavirus to $250 billion

[MSN/LA Times] Hoping to escape coronavirus, city dwellers are fleeing to California's deserts and mountains

[NYT] In World’s Most Vulnerable Countries, the Pandemic Rivals the 2008 Crisis

Tuesday's News Links

[Reuters] Wall Street bounces from three-year lows

[MarketWatch] Gold prices extend rally, surge by most in 11 years amid tight supplies and regime of limitless stimulus

[CNBC] Oil prices rise as US ramps up economic support measures

[Reuters] 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

[CNBC] 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

[AP] Q&A: What did the Fed do Monday and who will it help?

[Reuters] 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

[CNBC] The Fed is providing way more help for the markets now than it did during the financial crisis

[Reuters] 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

[Bloomberg] 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

[NYT] Grim News Blunts Federal Reserve’s Crisis Response

[WSJ] 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

[FT] 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