Monday, March 23, 2020

Tuesday's News Links

[Reuters] Wall Street bounces from three-year lows

[MarketWatch] Gold prices extend rally, surge by most in 11 years amid tight supplies and regime of limitless stimulus

[CNBC] Oil prices rise as US ramps up economic support measures

[Reuters] Nikkei jumps nearly 7% on hopes of BOJ buying; SoftBank Group soars

[Reuters] Crude edges higher, U.S. gasoline slumps over 30% on sinking demand

[CNBC] Congress is getting closer to a deal on the massive coronavirus stimulus bill

[CNBC] Coronavirus live updates: New cases surge in Spain; Dow futures jump

[AP] Q&A: What did the Fed do Monday and who will it help?

[Reuters] Banks borrow record $89.3 bln from BOJ's dollar funding operations on Tuesday

[Reuters] Fed's big move could help U.S. Treasury liquidity, but effects may not last long

[CNBC] The Fed is providing way more help for the markets now than it did during the financial crisis

[Reuters] Spain reports 6,600 new coronavirus cases overnight, over 500 dead

[Reuters] German coronavirus cases rise by 4,764 cases to 27,436: Robert Koch Institute

[Reuters] Italian coronavirus cases likely "10 times higher than reported"

[Reuters] March FX daily turnover hits $2.3 trln as virus fuels volatility - CLS

[Bloomberg] Euro-Zone Economy Crashes on Coronavirus Business Shutdowns

[Bloomberg] Gold Rallies as Goldman Sees ‘Inflection Point’ After Sell-Off

[Bloomberg] China’s Companies Have Worst Quarter on Record, Beige Book Says

[NYT] Grim News Blunts Federal Reserve’s Crisis Response

[WSJ] Negotiators Aim to Wrap Up Talks Tuesday on U.S. Stimulus Package

[WSJ] Businesses Can’t Pay Rent. That’s a Threat to the $3 Trillion Commercial Mortgage Market

[WSJ] Bezos, Other Corporate Executives Sold Shares Just in Time

[FT] China property sector shows signs of deterioration

[FT] From cover-up to global donor: China’s soft power play 

[FT] Oil industry faces biggest crisis in 100 years

[FT] Companies axe dividends in global push for cash

[FT] DE Shaw quant fund takes hit from markets gone haywire

Monday Evening Links

[CNBC] Dow futures rise more than 200 points as Senate haggles over virus bill

[CNBC] Japan stocks jump almost 4% as Fed ramps up stimulus measures

[CNBC] No more votes expected Monday after Senate coronavirus stimulus bill fails again

[CNBC] Coronavirus live updates: US cases top 43,000, Florida institutes New York and New Jersey travel rules

[Axios] U.K. Prime Minister Boris Johnson orders nationwide lockdown

[CNBC] CDC says coronavirus survived in Princess Cruise ship cabins for up to 17 days after passengers left

[Bloomberg] Quants Are Liquidating Stock Exposures at Fastest Pace on Record

[Bloomberg] Mortgage Industry Proposes Plan for One-Year Payment Deferrals

[NYT] The Fed’s Message: The Money-Printing Presses Are Fired Up and Ready to Go

[WSJ] Fed Unveils Major Expansion of Market Intervention

[FT] Federal Reserve’s full firepower fails to arrest slide in markets

[FT] The Federal Reserve has gone well past the point of ‘QE infinity’

Monday Afternoon Links

[CNBC] Dow sheds another 3% after coronavirus stimulus bill fails in Senate for a second time

[CNBC] Coronavirus stimulus bill blocked again in Senate as talks continue

[Reuters] U.S. credit spreads narrow after unprecedented Fed stimulus

[Reuters] Brent crude extends fall as coronavirus shutdowns sap demand

[CNBC] House Democrats to introduce a coronavirus stimulus plan Monday as Senate bill stalls

[CNBC] Coronavirus live updates: Schumer says deal is close on stimulus bill, US mayors ask for protective equipment ‘now’

[CNBC] Talks on coronavirus stimulus bill continue, vote pushed to noon

[CNBC] New York coronavirus cases surge 38% overnight to 20,875

[CNBC] This was the fastest 30% sell-off ever, exceeding the pace of declines during the Great Depression

[Reuters] Germany launches 750 billion euro package to fight coronavirus

[Reuters] Italy's coronavirus deaths slow, offering glimmer of hope

[AP] Over 1.5 billion globally asked to stay home to escape virus

[CNBC] Here’s everything the government has done to limit the economic destruction of coronavirus

[Bloomberg] Stay-Home Decrees Crush Small Business, Erasing Millions of Jobs

[Bloomberg] ECB Buys Most Bonds Since 2017, Even Before Latest Increase

[WSJ] Bond Markets Embrace Fed’s Latest Debt-Buying Programs

[WSJ] Mortgage Firm Struggles to Meet Margin Calls as Market Turmoil Continues

[WSJ] As Economic Toll Mounts, Nation Ponders Trade-Offs

[FT] ‘Great liquidity crisis’ grips system as banks step back