Wednesday, March 11, 2020

Thursday's News Links

[Reuters] Futures hit down trading limit on Europe travel shock

[Reuters] Stocks plummet after Trump bans travel from Europe to contain coronavirus blow

[Reuters] Oil falls 7% as Trump surprises with travel ban

[Reuters] Corporate credit risk heightens as coronavirus impact spreads

[Reuters] Bitcoin plummets as cryptocurrencies suffer in market turmoil

[CNBC] US producer price index fell 0.6% in February, vs 0.1% drop expected

[AP] European Central Bank offers stimulus to offset virus impact

[Reuters] U.S. will loan $50 billion to small businesses, defer taxes to fight coronavirus, Trump says

[Reuters] U.S. suspends travel from Europe as coronavirus forces Italy to tighten lockdown

[CNBC] Coronavirus live updates: WHO urges world to ‘double down,’ Spain’s top soccer league suspended

[Reuters] U.S. House leaders unveil coronavirus bill; Capitol tours suspended

[Reuters] Trump tried to pressure Fed Chair Powell on coronavirus response: Washington Post

[Reuters] China says 'immoral and irresponsible' U.S. officials shift coronavirus blame

[AP] China auto sales plunge in February amid virus shutdown

[Reuters] Mnuchin says IMF and World Bank funds won't repay debts to China

[CNBC] EU condemns Trump’s coronavirus travel ban, imposed ‘unilaterally and without consultation’

[Bloomberg] Here’s What Investors Are Saying About Trump’s Shock Virus Plan

[Bloomberg] Dash for Cash Is On as Corporate Titans Draw Down Credit Lines

[Bloomberg] China Credit Calm Masking Increasing Risks in $5 Trillion Market

[Bloomberg] T-Bills Are Scarce and the Shortage Is About to Get Even Worse

[Bloomberg] A $100 Billion Debt Wave to Crash Over Europe’s Riskiest Firms

[WSJ] Coronavirus Looms Over Crucial Spring Season for Housing Market

[WSJ] Wall Street Plunge Stresses Banks, Treasury Markets

[FT] BofA calls for swift US action as Treasury market ‘deteriorates’

[FT] China’s debt problem is really an asset problem

[FT] Oil crash hits South Korea market for exotic investment products

Wednesday Evening Links

[IBD] Dow Jones Futures Tumble As Trump Bans Travel From Europe; Coronavirus Stock Market Correction Is A Bear

[BBC] Trump suspends travel from Europe to US

[The Hour] Trump urged Mnuchin to pressure Fed's Powell on economic stimulus in explosive tirade about coronavirus

[Reuters] Wall Street tumbles, Dow confirms bear market

[CNBC] Fed boosts money it’s providing to banks in overnight repo lending to $175 billion

[Reuters] Treasuries - U.S. Treasury yields climb as market awaits stimulus guidance

[Yahoo/Bloomberg] Treasuries Yielding Next to Nothing Aren’t Hedge They Used to Be

[CNBC] Coronavirus live updates: Trump meets with Wall Street execs, US cities ban large gatherings

[CNBC] Boeing halts hiring, limits overtime as coronavirus poses ‘global economic disruption’, shares down 13%

[Reuters] Washington considers actions to bolster U.S. economy as coronavirus cases mount

[Reuters] U.S. eyes direct deposit to workers, tax delays, airline aid to counteract coronavirus

[Reuters] U.S. senator says Trump administration mulling use of oil reserve to help crude producers

[Reuters] World Health Organization describes coronavirus outbreak as pandemic

[CNBC] Washington state and San Francisco ban large gatherings to slow the coronavirus outbreak

[Reuters] Italian daily coronavirus deaths jump 31% to 827

[CJ] Boeing Plans Full Drawdown of $13.825 Billion Loan

[Reuters] Mnuchin says no need for intervention in markets due to coronavirus

[Reuters] Exclusive: U.S. SEC steps up scrutiny of private debt 'financial games'

[Reuters] Exclusive: Russia to OPEC: deeper oil cuts won't work

[Reuters] U.S. oil company workers made a big, bad retirement bet: their own stock

[Vox] The WHO just declared the coronavirus a pandemic. Here’s what that means.

[Bloomberg] Fed Pledges More Than $500 Billion to Keep Funding Markets Calm

[Bloomberg] Junk Investors Seen Pulling Cash, Setting Exit Record

[Bloomberg] Mnuchin Says Treasury May Forego Seasonal Cuts to Bill Issuance

[Bloomberg] $50 Trillion in Question After U.S. Treasury Liquidity Dries Up

[Bloomberg] Risky Munis Haven’t Fallen This Much Since Trump’s Election

[Bloomberg] Blackstone, Carlyle Urge Portfolio Companies to Tap Credit

[NYT] Coronavirus May Light Fuse on ‘Unexploded Bomb’ of Corporate Debt

[WSJ] Saudi Arabia’s Crown Prince Tanked Oil Markets. Here’s the Back Story.

[FT] Tett: A deadly disease, globalisation and me