Wednesday, March 18, 2020

Thursday's News Links

[Reuters] Wall Street sinks again as virus response falls short

[Reuters] Dollar rules; ECB stimulus boosts bonds

[Reuters] Credit markets flash red as coronavirus hits corporate America

[Reuters] Oil jumps after three-day slump but virus and oversupply still weigh

[Reuters] Fed opens new dollar swap lines with 9 new foreign central banks

[Reuters] ECB to print 1 trillion euro this year to stem coronavirus rout

[Reuters] U.S. Fed moves to ensure liquidity in money market mutual funds

[CNBC] UK prepares for lockdown; EU’s chief Brexit negotiator has coronavirus

[Reuters] Exclusive: China to ramp up spending to revive economy, could cut growth target - sources

[AP] Central banks deploy trillions to keep economy running

[Reuters] Japan may hand out cash to households in stimulus package to battle virus fallout

[Reuters] Australia embarks on QE, cuts rates to record lows

[Reuters] South Korea warns of global credit crunch, will support dollar funding needs

[NYT] Automakers to Close Factories in North America

[Bloomberg] Enormous De-Leveraging in Bond Market Smacks of Margin Calls

[Bloomberg] Dollar Soars to Record as Funds Dump Everything in Risk Exodus

[Bloomberg] Global Liquidation Triggers Limit Down in Multiple Asia Markets

[Bloomberg] Fed Starts Emergency Program to Aid Money Market Mutual Funds

[Bloomberg] China Builders Face Defaults as Cashflow Comes Under Pressure

[Bloomberg] World Could Need $26 Trillion Stimulus, Top Global Fund Says

[WSJ] Coronavirus Testing Chaos Across America

[WSJ] Consumers Face a Massive Credit Crunch. Lenders Are Still Figuring Out What To Do.

[WSJ] Turmoil in Funding Markets Drags Down Mortgage REITs

[FT] The shocking coronavirus study that rocked the UK and US

Wednesday Evening Links

[AP] Europe’s central bank launches new program to calm markets

[CNBC] Dow futures point to 300-point gain after ECB announces massive stimulus package

[Reuters] Government borrowing costs jump as virus-related support costs climb

[CNBC] Senate passes coronavirus relief plan to expand paid leave, sends it to Trump

[CNBC] Coronavirus live updates: NYC mayor wants ‘shelter-in-place’ order, US cases number over 7,500

[Reuters] Trump administration wants to send taxpayers $500 billion, $50 billion in loans for airlines

[Reuters] Brazil cuts interest rates to new low 3.75% in coronavirus fight

[AP] Automakers shut North American plants over coronavirus fears

[Reuters] U.S. restaurants seek $455 billion of federal aid due to coronavirus hit

[Yahoo] Merkel calls coronavirus 'biggest challenge since WWII'

[Bloomberg] Global Bond Rout Gains Steam Led by Treasuries in Flight to Cash

[Bloomberg] NYSE to Shut Trading Floors Monday, Says Two People Had Virus

[Bloomberg] Currency Liquidity Vanishes on Mounting Fears of London Hub Slamming Shut

[WSJ] Coronavirus Pandemic to Test Limits of How Much Debt U.S. Can Bear

[WSJ] Markets Enter New Phase—Where Cash Is All That Matters

[WSJ] America Needed Coronavirus Tests. The Government Failed.

[WSJ] Bridgewater Associates Performance Hit by Coronavirus

[FT] Fear grips markets as faith in intervention runs out

Wednesday Afternoon Links

[Reuters] Wall Street extends recent selloff, puts Dow on course to erase 'Trump-bump'

[CNBC] Oil falls 24% in 3rd worst day on record, sinks to more than 18-year low

[Reuters] Wall Street slumps, government bonds hammered as stimulus high fades

[CNBC] Here’s where things stand on the White House’s push for a $1 trillion stimulus package

[The Hill] GOP divided on next steps for massive stimulus package

[Reuters] U.S. restaurants ask for federal aid, could take $225 billion hit from coronavirus

[Bloomberg] Traders ‘Liquidating Positions Everywhere’ Upend Markets

[Bloomberg] ECB Buying Italian Bonds in Bid to Halt Market Rout

[Bloomberg] Private Credit Deals Dry Up in Rout With Pipeline Out of Reach

[Bloomberg] Credit Cracks Spark Historic Moves in Systematic Stock Trading

[WSJ] Short-Term Bond Market Roiled by Panic Selling

[FT] Bank-led freeze on stock buybacks could spread across US market