Thursday's News Links

[Reuters] Markets brush off ugly data, pin hopes on stimulus

[CNBC] Oil jumps 21%, extending Wednesday’s rally as traders bet on US production cuts

[CNBC] US weekly jobless claims hit 4.4 million, bringing 5-week total to more than 26 million

[Reuters] Coronavirus live updates: Labor market data shows continued collapse, US hot spots span the East Coast

[AP] EU leaders weigh massive virus economic recovery measures

[Reuters] EU edges towards joint financing for coronavirus recovery

[Reuters] Bankruptcy looms over U.S. energy industry, from oil fields to pipelines

[Reuters] Guards chief: U.S. warships will be destroyed if they threaten Iran in Gulf

[AP] Stopping virus a huge challenge at crowded US meat plants

[AP] China buys crude as prices collapse, adding to stockpiles

[Bloomberg] How the Coronavirus Crisis Pushed the Fed Into Truly Uncharted Territory

[Bloomberg] When $8 Trillion in Global Fiscal Stimulus Still Isn’t Enough

[Bloomberg] Europe Inches Toward a $2.2 Trillion Plan That May Never Happen

[Bloomberg] China’s Uneven Reopening Shows Fear Might Hold Back Economies

[Bloomberg] Oil Collapse to Worsen China’s Deflation, Open Path for PBOC

[Bloomberg] Fitch Warns of Credit Risks If Development Banks Pause Repayment

[NYT] Banks Gave Richest Clients ‘Concierge Treatment’ for Pandemic Aid

[WSJ] Europe Suffers Record Collapse in Economic Activity

[WSJ] Q&A: How Oil Markets Work, And Why Prices Fell Below Zero

[FT] China struggles with sharp rise in unemployment

Wednesday Evening Links

[Reuters] Wall Street surges as Congress preps more stimulus and oil bounces back

[CNBC] Coronavirus live updates: California to start scheduling certain surgeries again, local governments left out of next US relief package

[Reuters] U.S. auto sales show signs of life after gloomy coronavirus March: J.D. Power

[CNBC] Massive layoffs and pay cuts are likely coming to state and local governments as federal aid goes elsewhere

[The Hill] Five threats to US food supply chains

[Bloomberg] A ‘Wave of Defaults’ Is Coming for Retail and Hotels, NYC Developer Says

[Bloomberg] ECB Acts to Shield Weakest Euro Economies From Rating Cuts

[Bloomberg] Coronavirus Will be Largest Event in Insurance History, Says Chubb CEO

[Bloomberg] Hedge Funds Suffer Largest Quarterly Withdrawals Since 2009

[WSJ] Mnuchin Says ‘We Need to Spend What It Takes’ to Overcome Coronavirus Crisis

[WSJ] The Bonds the Fed Left Behind in Coronavirus Bailout Are Struggling