Fed Is All In: Here Are the Key Features of Its Lending
By Christopher Condon (Bloomberg) — The Federal Reserve has announced a raft of emergency lending programs, with approval from the Treasury Department, to help the U.S. economy weather the devastating impact of the coronavirus pandemic. These could ultimately deploy trillions of dollars in lending. The programs seek to keep financial markets functioning and, in unprecedented steps, […]
Fed Takes Next Step Toward Launching Muni Lending Facility
By Matthew Boesler (Bloomberg) — The Federal Reserve took another step toward launching an emergency lending program for state and local governments, publishing an online document on Friday for would-be borrowers. The so-called notice-of-interest document is for eligible issuers in the municipal debt market “to express interest in selling notes to the special purpose vehicle” set […]
Scientists race to find a cure or vaccine for the coronavirus. Here are the top drugs in development
Health officials and scientists across the world are racing to develop vaccines and discover effective treatments against the coronavirus, which has infected more than 4.2 million people worldwide in as little as four months, according to data compiled by Johns Hopkins University.
Some hope for the recovery in the dismal jobs report: 78% of workers say their layoff is temporary
The economy lost a record 20.5 million jobs in April, but nearly 4 in 5 workers surveyed by the government see their layoffs as temporary.
‘Feels like we’re at the bottom’: Some executives see signs of recovery in April
The coronavirus pandemic ground the U.S. economy to a near halt in March and April. But in the last couple of weeks, many company executives and investors across industries say they are seeing small signs business is picking up again. At the very least, there is evidence the sharp downturn has hit bottom.
Smartphone shipments in China up 17% in April, signalling likely rebound: government data
Smartphone shipments from China’s factories to vendors rose 17% in April compared to the same month a year ago, according to government data released on Tuesday.
Wall Street Titans See Tax Hikes Whether They Like Them or Not
By Sridhar Natarajan and Max Abelson Dalio and Fink predict higher individual, corporate rates Blankfein says pandemic response means more revenue is needed (Bloomberg) — It’s a line you don’t hear every day from Wall Street titans: Maybe we really should pay higher taxes. The pandemic has bold-face names like Larry Fink and Lloyd Blankfein thinking out loud that it might be […]
S&P 500 Has Upside to 3,300 to Price in a 50% Recovery
Fair Value Model 2Q20 Gina Martin Adams & Michael Casper S&P 500 Has Upside to 3,300 to Price in a 50% Recovery (Bloomberg Intelligence) — The S&P 500 could stretch to 3,300 to price in a recovery half as strong as average beginning in 2H, according to our scenario analysis, but it will take EPS […]
How Facebook’s Reliance Deal Upends a $1 Trillion Digital Arena
An innocuous WhatsApp “Hi” could end up transforming a $1 trillion industry. Facebook Inc. bought its way into India’s internet commerce sphere last week with a $5.7 billion investment in Reliance Industries Ltd., a sprawling conglomerate in everything from telecom to energy. They launched their first pilot within days, a program covering three Mumbai neighborhoods where consumers can send […]
U.S. Stocks Don’t Need to Fall on Economic Damage, Goldman Says
U.S. stocks may be able to look through a dismal earnings season or two, and the deepest economic contraction in modern history, according to analysis by Goldman Sachs Group Inc. That’s based on historical analysis that suggests equities price in macroeconomic performance over a two-year horizon. As long as projections are — as they indeed […]