Tuesday, March 24, 2020

Tuesday, March 24, 2020
Doug Noland Posted on March 23, 2020

[Reuters] S&P hits upper trading limit after another brutal session

[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

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