Wednesday Evening Links

[Reuters] Wall St. surges on promising coronavirus drug

[Reuters] Dollar drops as Fed repeats vow to support economy

[AP] Fed signals it will likely hold rates near zero for months

[Bloomberg] Powell Warns of ‘Heartbreaking’ Harm of Virus, Fed Holds Rates

[Bloomberg] Credit Rally Defies Rotten Fundamentals After Central Bank Buys

[Bloomberg] A Wave of Bad Loans Could Swallow China's Banks

[Bloomberg] Fannie-Freddie Escape Plan at Risk of Collapse in Mortgage Chaos

[WSJ] Fed’s Powell Says More Spending Will Be Needed From Congress

[WSJ] Miscalculation at Every Level Left U.S. Unequipped to Fight Coronavirus

[WSJ] U.S. Borders to Remain Shut to Foreign Travelers as States Reopen

[FT] Fed keeps rates close to zero during pandemic fallout

[FT] Saudi central bank’s foreign assets fall by most in two decades