After desperately trying to ramp to green, stocks are tumbling (along with bond yields) right after the Fed implicitly confirmed there is now a shortage of bonds as demonstrated by the recent repo ops that saw zero submissions – as discussed earlier as instead of using repo to park bonds with the Fed Dealers merely sell them back to the Fed – … … when it [...]
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Prime minister of the Libyan Government of National Accord (GNA), Fayez Al-Sarraj, announced on Thursday the launch of Operation Peace Storm, in response to the continued attacks carried out by Haftar’s forces. This was announced in a statement posted on Facebook by the Libyan prime minister’s media office. On Wednesday, the GNA forces took control of strategic locations south and west of Tripoli, most notably Al-Watiyah [...]
The United Arab Emirates will impose overnight curfews as a temporary measure this weekend to carry out a nationwide disinfection campaign starting Thursday to curb the spread of the new coronavirus. The regional business hub, which has confirmed 333 cases of the virus with two deaths, has not announced an official curfew or work suspension but has increasingly clamped down on movement, Reuters said. Authorities said [...]
Fox News will be holding a two-hour virtual town hall on Tuesday with President Donald Trump and key members of the White House coronavirus task force. The town hall, airing at noon ET, will be co-moderated by Harris Faulkner and Bill Hemmer, and will feature contributions from Fox News contributors Dr. Nicole Saphier and Dr. Marc Siegel, along with Dr. Mehmet Oz. Viewers will be able [...]
Qatar has announced $150 million in aid to the Gaza Strip over a period of six months. The decision was taken to support United Nations humanitarian programs in the Palestinian territory as well as efforts to contain the coronavirus outbreak there, the state-run Qatari Committee to Rebuild Gaza tweeted on Monday. The densely populated Gaza Strip reported its first cases on Sunday, Reuters said. Authorities announced [...]
Andy Cohen announced on social media Friday he has tested positive for coronavirus. The news comes on the heels of Cohen announcing plans for an “at-home” edition of Watch What Happens Live on Sunday featuring Jerry O’Connell, Nene Leakes, and Ramona Singer. Earlier today Cohen told Variety, “My show has always been something of a little coffee klatch, party-line type show. And this seemed like a [...]
New York Gov. Andrew Cuomo announced a “stay at home” order for all residents on Thursday, the strictest measure yet to fight the spread of the novel coronavirus in the nation’s largest city. “Remain indoors, go outside for solitary exercise. Don’t go to a house with multiple people. Don’t go to your daughter’s house,” he said. “That is a mistake.” There are at least 4,000 confirmed [...]
New York Gov. Andrew Cuomo announced that “100 percent of the workforce must stay home” on Friday while giving an update on the coronavirus outbreak. Cuomo explained there are “two basic rules” for New Yorkers during the global pandemic. “Only essential businesses will be functioning,” and “remain indoors to the greatest extent to protect physical and mental health.” “On the businesses, on the valve, we reduced it to [...]
Jordan will impose a countrywide lockdown from Saturday to combat the coronavirus, barring people from moving except for emergencies, the government said. The measures will apply from 0700 local time (0500 GMT) on Saturday until further notice. King Abdullah has enacted an emergency decree giving the government sweeping powers to enforce an army-imposed curfew and other measures that infringe on civil and political liberties, Reuters reports. [...]
With the Fed throwing the kitchen sink at the global dollar funding shortage problem, and failing to make much of a dent on the renewed surge in the dollar, last night we said that we expect even more aggressive swap lines with global central banks to be revealed by the Fed in the coming days in hopes of easing the $12 trillion dollar margin call. That [...]
19 Mar, 2020 04:28 The Federal Reserve has introduced yet another emergency measure to ease the economic impact of the global coronavirus epidemic, injecting liquidity into money markets and mutual funds to meet growing demand for cash. The Fed announced the new Money Market Mutual Fund Liquidity Facility (MMLF) late on Wednesday night, creating a program similar to a one rolled out during the 2008 financial [...]
Earlier this afternoon we said that because “the Fed’s Bazooka #1 was an epic dud. Here comes Bazooka #2”, and this time it is the ECB that will try to fire. Sure enough, almost three hours later, and just before 1am CET, the ECB announced plans to buy a whopping €750bn in more bonds in the delightfully named Pandemic Emergency Purchase Program (because we clearly needed [...]
President Donald Trump today announced a number of new actions the White House is taking to address the coronavirus pandemic. At one point, POTUS announced, “The Department of Housing and Urban Development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of April.” “So we’re working very closely with Dr. Ben Carson and everybody from HUD.” The president [...]
The British government has said it will not fund probes into unsolved killings dating from the period of the Troubles in Northern Ireland, backtracking on an earlier agreement with the Irish government and NI political parties. London said Tuesday that a new independent body would be formed to investigate the killings, saying that this would put an “end to the cycle of reinvestigations.” The latest announcement [...]
One of the first prospective crypto banks in the United States is hiring its C-suite. Avanti Financial Group, the first firm to announce its application to be a special purpose depository institution in Wyoming, announced five new executive hires who will also be co-founders on Tuesday, including Bitcoin Core developer Bryan Bishop and Figure Technology’s Zev Shimko. “It was important to find people with experience in [...]
Governor Andrew Cuomo has promised more closures in the state of New York, yet rejected the idea of a quarantine in the Big Apple. He also pleaded for help from the federal government as coronavirus deaths and cases rise steeply. “It’s possible we will be doing more dramatic closings,” Cuomo said at a Tuesday press conference, only a day after announcing the closing of gyms, casinos [...]
Earlier this morning, when discussing the latest Fed repo injections, which at $189BN between overnight and term repos, seemed insufficient to ease the stress in the repo market where GC repo jumped by 40bps to 60bps this morning… we said that “with no other repos scheduled for today, and the next $500BN 84-day facility not due until Friday, banks may soon find themselves in another funding [...]
Tim Warner/Getty Images After months of speculation, Tom Brady has announced he is leaving the New England Patriots. In a pair of posts to twitter, the legendary six-time Super Bowl-winning quarterback announced his departure from the team. “Although my football journey will take place elsewhere, I appreciate everything that we have achieved,” Brady wrote. FOREVER A PATRIOT pic.twitter.com/QSBOJBs4uy — Tom Brady (@TomBrady) March 17, 2020 LOVE [...]
Program Executive Office, Aviation announces the Project Agreement holders for the Future Long Range Assault Aircraft (FLRAA) Competitive Demonstration and Risk Reduction (CD&RR). The Army’s PEO Aviation, working with Army Contracting Command, Redstone recently awarded the FLRAA CD&RR project agreements under the Aviation and Missile Technology Consortium Other Transaction Authority (OTA) to Bell Textron Incorporated, and Sikorsky Aircraft Corporation. These competitively awarded OTA agreements consist of [...]
Emma McIntyre / Getty Images Idris Elba announced on Twitter Monday afternoon he has tested positive for the coronavirus. The Wire and Luther star said he got his test results back today “and it sucks.” He and his wife are doing okay and he currently does not have any symptoms. This morning I tested positive for Covid 19. I feel ok, I have no symptoms so [...]
The premier of Germany’s southern state of Bavaria on Monday declared a state of emergency as the number of new coronavirus cases continues to rise, Reuters reported. Markus Soeder also announced a fund worth up to €10 billion ($11.21 billion) to help the region withstand the coronavirus outbreak. “The situation is very serious and changing daily, unfortunately not for the better,” the Bavarian leader said. He [...]
The Pentagon on Saturday afternoon said it has moved toward “minimal staffing” over coronavirus fears a day after President Trump formally declared a national emergency. CBS national security correspondent Cami McCormick broke the news, describing: Defense Dept. officials have raised alert level at the Pentagon to Bravo. There will now be “minimal staffing” at the Pentagon due to coronavirus. Crucially this alert level refers to staffing levels [...]
Vice President Mike Pence said Saturday that new travel bans would be implemented on the United Kingdom and Ireland as the novel coronavirus pandemic spreads. At a White House press conference with President Trump, Pence said the ban would take effect from midnight Monday. Source
President Donald Trump made a surprise appearance at a White House Coronavirus Task Force briefing, where he made brief remarks that included another victory lap over Friday’s partial stock market rally. Prior to the briefing, White House correspondents reported that the administration has instituted new precautions, taking every reporter’s temperature and denying entry to at least one who had a 99.9 degree temperature. Trump then took [...]