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Interview with Treasury Secretary Mnuchin on Federal Coronavirus ResponseMar 13, 2020 - 07:08:46 PDT
Treasury Secretary Steven Mnuchin joins "Squawk on the Street" to discuss the federal government's efforts to help Americans weather the health and economic difficulties brought on by the coronavirus outbreak.
‘Big Short’ Michael Burry Has a Bearish Bet, Warns of a Selling StampedeMar 13, 2020 - 07:00:03 PDT
Michael Burry said he amassed a “significant” bearish wager that’s performing well as riskier assets tumble and warned of an exodus from passive investments as the coronavirus pandemic batters the global economy.The California-based money manager, who shot to fame after betting against...
Swedish Central Bank Rolls Out $51 Billion Loan Plan to Ward Off RecessionMar 13, 2020 - 06:55:08 PDT
Sweden’s Riksbank has decided to lend up to 500 billion kronor ($51 billion) to the country’s banks in an effort to maintain the supply of credit to Swedish companies.
All of Wall Street’s eyes are on Washington again, but only Federal Reserve Chairman Jerome Powell is catching its gaze. With few encouraging signs of a comprehensive fiscal policy response from the U.S. government to the coronavirus, investors are looking to the central bank to fill the...
Asian central banks moved aggressively to counter the market carnage Friday, pumping liquidity into the financial system and discussing emergency action to fight the global economy’s biggest threat since the financial crisis.
Amplifying the fear is the fact that central-bank interventions haven’t been able to turn things around like they used to. The plea arising from markets is for governments to step into the breach and use their spending power to shore up economies -- in the short run.
The U.S. and world economies look increasingly likely to slip into recession as expanding swaths of commerce shut down and the Dow Jones Industrial Average suffered its worst day since 1987 amid the coronavirus pandemic.
Germany pledged to spend whatever is needed to dull the economic impact of the coronavirus, while the European Commission said it’s ready to green light widespread fiscal stimulus if the situation deteriorates.
Central banks worldwide acted to shore up money markets after cratering share prices drove a rush for cash, hitting many regional currencies and threatening a surge in short-term borrowing costs.
Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 7% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.
NY Fed unveils substantial liquidity package as analysts warn massive market disruption is possible...
It appears we've pretty much reached complete panic mode.The longest bull market in history came to an abrupt end on Wednesday. Wall Street followed up with another massive sell-off on Thursday. The S&P 500 had its worst day since Black Monday in 1987. Even gold was down. Meanwhile, the Fed tried to stem the tide, announcing a new round of quantitative easing. But the tide wasn't stemmed. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey gives an overview of the week's events and talks about the elephant in the room.
The sell off in equities this week has triggered margin calls, with investors looking for opportunities where they can cash in. At the same time, a stronger dollar has also curbed gold's appeal.
Gold rose slightly on Friday as investors weighed the economic hit from the coronavirus outbreak and as financial markets stabilized a bit after a rout...
Crypto's: $93.5 Billion Wiped off Value in 24 Hours, Bitcoin Plunges 48%Mar 13, 2020 - 04:51:55 PDT
The fall in cryptocurrency markets comes amid a broader sell-off in equities as governments worldwide continue to grapple with the spread of the new coronavirus.
The New York Stock Exchange is prepared for the possibility that someone working on its trading floor may contract coronavirus.
While much of the attention in the bond market has been focused on the Treasury side, corporate fixed income has been in its own state of turmoil.
Given that a deflationary crash is underway with the Fed about to slash rates to zero, the yield on the long bond ought to be dropping.
Mar 13, 2020 - 04:13:19 PDT
Are we due one? The archetype is an investor who has borrowed to fund his purchase and has his loan called. If there are lots of forced sellers, as can happen in periods of stress, the result is a rout.
Christine Lagarde delivered a disappointing set of measures to mitigate the impact of coronavirus