A first planeload of protective and medical equipment donated to Africa by Chinese billionaire and Alibaba co-founder Jack Ma to help it fight the coronavirus arrived in the Ethiopian capital Addis Ababa on Sunday.
A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan not a cash payout, according to a copy of the proposal seen by Reuters.
(Bloomberg) — The dollar slipped in early trading in Asia on Monday as investors took stock of the latest developments on the coronavirus’s spread and more stringent measures from countries to control it.The New Zealand dollar fell after its central bank joined other countries in saying it will start buying bonds to stimulate the economy.The yen and Swiss franc edged up against the greenback. The open of U.S. equity futures trading will again be closely watched after the S&P 500 lost more than 4% on Friday, when Asian futures signaled more declines to come.As investors attempt to assess the severity …read more […]
Facebook Inc Chief Executive Mark Zuckerberg said on Sunday that the social media company has donated its emergency reserve of 720,000 masks to provide health workers with more protective gear.
Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic aid package in Washington. U.S. stocks have already fallen more than 30% from their mid-February peak as the pandemic has spread, with even the safest areas of the bond market experiencing liquidity stress in a market rout not seen since the 2008 financial crisis. “This is a biological event,” said Nela Richardson, investment strategist at Edward Jones in St. Louis. …read more […]
Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic aid package in Washington.
(Bloomberg) — Bond investors are looking for orientation points this week in a fog of panic that’s paralyzed parts of the world’s biggest and safest debt market.Roughly $340 billion of Treasuries are on the way. That burst of supply could help a market starved of high-quality securities if it lands in less chaotic conditions. But there’s hardly any guarantee of that: The 10-year yield, a benchmark for global borrowing costs, swung in a range of more than 50 basis points in each of the past three weeks, a phenomenon that hasn’t been seen in the past two decades. Rates-market volatility …read more […]
(Bloomberg) — Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.Bullard called for a powerful fiscal response to replace the $2.5 trillion in lost income that quarter to ensure a strong eventual U.S. recovery, adding the Fed would be poised to do more to ensure markets function during a period of high volatility.“Everything is on the table” for the Fed as far as additional lending programs, Bullard said in a telephone interview …read more […]
Goldman Sachs warns the S&P 500 profits will drop 33% in 2020 as Q2 will come with net losses. …read more […]
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