Tuesday, March 17, 2020

Wednesday's News Links

[CNBC] Dow plunges 1,000 points as stretch of unprecedented volatility continues because of coronavirus

[Reuters] Stocks, oil sliding again in 'irrevocably changed' markets

[Reuters] Italian bond yields jump, central bank intervention brings some calm

[Reuters] U.S. crude hits 17-year low as lockdowns, restrictions spread

[Reuters] Dollar rockets to three-year highs as coronavirus fears fuel funding scramble

[CNBC] Trump says the US will close the border with Canada to ‘non-essential’ traffic

[CNBC] US housing starts total 1.599 million in February, vs 1.500 million expected

[CNBC] Weekly mortgage applications drop over 8% as interest rates jump briefly

[CNBC] Coronavirus live updates: Mnuchin warns of high unemployment, celebrities ‘tour’ social media

[Reuters] Japan's exports fall, imports from China slump as virus impact widens

[Reuters] Japan's Abe to launch panel to mull big stimulus package: source

[CNBC] US GDP could shrink by 13% in 2nd quarter as part of ‘severe global recession,’ Deutsche Bank says

[Bloomberg] Global Bonds Plunge Ahead of Debt Deluge From Pandemic Defense

[Bloomberg] Wall Street Says a Volatility Doom Loop Is Gripping Markets

[Bloomberg] Trump Told Mnuchin to Go Big, and a $1 Trillion Stimulus Emerged

[Bloomberg] German Bunds Post Longest Losing Streak in 2 ½ Years

[WSJ] Fed to Relaunch Primary Dealer Credit Facility

[WSJ] Behind Washington’s Stimulus Frenzy: the Prospect of Billions of Unpaid Bills

[Bloomberg] China Guts U.S. Press Corps in Beijing With Mass Expulsions

[FT] Government bonds buckle as investors dump haven assets for cash

[FT] Extreme market stress puts $6.4tn ETF sector under acute pressure

[FT] Fed to lend against stocks and bonds in bid to stabilise markets

[FT] China lacks the appetite to save the world economy, analysts warn

[FT] Emerging markets hedge funds stung in Covid-19 sell-off

[FT] China’s farmers fear food shortages after coronavirus restriction

Tuesday Evening Links

[CNBC] Dow rebounds more than 1,000 points as Trump seeks $1 trillion in stimulus for coronavirus fight

[Reuters] Fed moves to backstop funding for U.S. companies as coronavirus fallout spreads

[Reuters] Fed plans steps to ease short-term borrowing for companies

[Reuters] NY Fed says it will offer an additional $500 billion in overnight repo on Tuesday

[Reuters] Senate weighs emergency coronavirus pandemic funds; Trump seeks $850 billion more

[CNBC] Mnuchin says Trump administration is looking to get cash to Americans ‘immediately’

[CNBC] Regulators considering more changes to free up bank liquidity, sources say

[CNBC] Coronavirus live updates: Malaysia closes border, Italy death toll crosses 2,500

[CNBC] China expels journalists from New York Times, Wall Street Journal and Washington Post

[CNBC] Homebuilder sentiment falls, as coronavirus begins to factor in

[CNBC] New York state coronavirus cases soar to more than 1,300, hospitalizing 19%

[NY Post] 86% of people with coronavirus are walking around undetected, study says

[Reuters] UK confirmed coronavirus cases rise 26% to 1,950 in past 24 hours

[Reuters] Europe to shut borders as lengthy virus crisis looms

[Reuters] Spain unveils 'unprecedented' 200 billion euros coronavirus package

[Bloomberg] Fed Restarts Commercial Paper Facility to Ease Market Strain

[Bloomberg] Stocks Locked In to Credit’s Vortex With Solvency Risk Spreading

[NYT] Fed Unveils Emergency Lending Program to Shore Up Business Credit Markets

[WSJ] Lessons from Italy’s Hospital Meltdown. ‘Every Day You Lose, the Contagion Gets Worse.’

[FT] Rise in Italian yields has echoes of eurozone debt crisis

[FT] Global funding squeeze forces dollar higher

[FT] US leveraged loan prices slump to lowest since financial crisis