Monday, May 4, 2020

Tuesday's News Links

[Reuters] Stocks climb on oil gains, easing of lockdowns

[Reuters] Oil spurt lifts stocks out of three-day losing streak

[Reuters] Euro drops after German court ruling fuels uncertainty

[Reuters] Oil prices extend gains on demand hopes as lockdowns ease

[Reuters] German court hands ECB three-month ultimatum to justify stimulus scheme

[Yahoo/Bloomberg] German Court Issues a Dangerous Verdict for the ECB

[MarketWatch] U.S. trade deficit soars 12% in March as coronavirus slams exporters and tourism

[CNBC] Coronavirus live updates: Starbucks to open 85% of US locations this week as cases are set to rise

[Yahoo/LA Times] A mutant coronavirus has emerged, even more contagious than the original, study says

[Reuters] Companies tap bond markets at record rate to ride out coronavirus downturn

[Reuters] U.S. mortgage firms push for support as borrowers halt payments

[AP] Trump’s anti-China rhetoric aimed at boosting US leverage

[Bloomberg] ECB Must Justify QE Bond Purchase Program, German Judges Rule

[Bloomberg] ECB Weighs Reply After German Ruling Casts Doubt on Crisis-Fighting Program

[Bloomberg] EU Court Faces ‘Declaration of War’ From Germany’s Top Judges

[Bloomberg] Italy Bonds Slide on Risk Ruling on ECB’s QE Opens Pandora’s Box

[Bloomberg] Hong Kong Retail Faces Record Weakness as China Consumers Vanish

[Bloomberg] Luxury Home Prices From Hong Kong to Vancouver Will Fall Sharply, Knight Frank Says

[WSJ] U.S. Treasury Expects to Borrow $4.5 Trillion in Fiscal Year as Stimulus Spending Soars

[FT] German court has set a bomb under the EU legal order

[FT] Hedge funds bet on gold as refuge from ‘unfettered’ currency printing

[FT] Wall Street ‘flying blind’ after companies scrap guidance

[FT] Who pays the bill? The coming deluge of pandemic litigation

[FT] Argentina ready to consider 9th sovereign default, says Guzm├ín

Monday Evening Links

[CNBC] Dow futures rise 100 points in overnight trading as investors focus on reopening of economy

[Reuters] Global shares fall on U.S.-Sino spat but Wall Street rebounds

[Reuters] U.S. Treasury blasts records with $3 trillion borrowing need this quarter

[AP] Fed enters a risky new world with ‘Main Street’ loan program

[CNBC] Coronavirus live updates: Global death toll tops 251,000, China reports one new confirmed case

[Reuters] White House makes appointments that could impact pension fund decision to invest in China

[Bloomberg] Trump Official Warns China of Populist Backlash Over Repression

[Bloomberg] Why There’s a Looming Debt Crisis in Emerging Markets

[WSJ] California Is First State to Borrow From Federal Government to Make Unemployment Payments

Monday Afternoon Links

[CNBC] The S&P 500 ekes out a small gain to start the week, supported by strength from big tech

[CNBC] US Treasury seeks to borrow a record $3 trillion this quarter

[Reuters] U.S. banks tightened loan standards in first quarter as coronavirus outbreak took hold

[CNBC] Coronavirus live updates: FDA clamps down on antibody tests as former chief questions their reliability

[Reuters] NY Fed says outlook for Fed balance sheet is 'highly uncertain" due to coronavirus

[Yahoo/AFP] As lockdowns lift, 'second wave' concerns grow

[CNN] More than 370 workers at a pork plant in Missouri tested positive for coronavirus. All were 
asymptomatic

[Bloomberg] Hedge Fund Stock Exposure Is the Highest in at Least Three Years

[WSJ] Coronavirus Sweeps Across Brazil, a Land Ill-Equipped to Fight It

[FT] The US and China’s dangerous blame game will do no good

[FT] Europe prepares to exit lockdown amid business and labour concerns

[FT] ‘Too hard to tell’ if US travel ban will be lifted, says Mnuchin

[FT] Brazil’s business leaders fret over Bolsonaro