TOP MARKETS NEWS: Week 05/11 – 05/17

Weekend 05/16 & 05/17

Fed’s Powell says full economic recovery may require coronavirus vaccine: CBS – Reuters
Here’s What Would Happen If The Fed Launched Negative Rates – Ζerohedge
Eric Peters: “The Real Test Is Only Just Beginning, And Everything Is About To Change” – Ζerohedge
Here Is What Hedge Funds Bought And Sold In The Q1 Chaos: Full 13F Summary – Ζerohedge
Economic Virus Shock Crushes America’s Working Poor, Fed Finds – Ζerohedge



Friday 05/15

Investors brace for Covid-19 hit to eurozone economy – business live – guardian
Futures Tumble After US Restarts Trade War With China, Locks Out Huawei; China Vows Retaliation Against Apple, Boeing – Zerohedge

“Selling American”: Buffett Dumps Most Of His Goldman Stake, Trims JPMorgan In Turbulent First Quarter – Ζerohedge
J.C. Penney, 118-Year-Old Department Store, Files for Bankruptcy – nyt
Pilots at Lufthansa’s Austrian offer to take 43% pay cut until 2023 – Reuters
U.S. Factory Production Plummets by Most in Records to 1919 – Bloomberg
US Industrial Production Plunges By Most In Over 100 Years – Zerohedge
US Retail Sales Crash By Most Ever In April, Cars & Clothing Clobbered – Zerohedge
“Will Get Worse” – Virus Pushes Germany Into Recession – Zerohedge
Euro zone first-quarter growth plunge deepest on record as coronavirus hits – Reuters
Hong Kong economy slumps at record rate, virus clouds outlook – Reuters
German GDP shrinks by 2.2% in the first quarter as coronavirus lockdown weighs – cnbc
Unemployment ticks higher in China as coronavirus shock to economy persists – cnbc
Coronavirus forces HSBC to cut global growth forecasts, again – Reuters
As China reopens, factories fire up but jobs gloom keeps consumers at home – Reuters



Thursday 05/14

Markets drop as investors fear long-term economic harm from Covid-19 – business live – guardian

The Fed’s Visible Hand: Powell Buys $305 Million In ETFs In Two Days – Zerohedge
Coronavirus to leave a legacy of unprecedented global debt – Reuters
Opinion: What’s happened to value stocks? – Marketwatch
Seven weeks into coronavirus lockdowns, Fed has a new, darker message – Reuters
‘Rolling Shock’ as Job Losses Mount Even With Reopenings – nyt
Jobless claims climb by another 3 million amid coronavirus shutdowns – Marketwatch
“We Could Cut Off The Whole Relationship” – War Of Words Between Trump And Beijing Is Heating Up – Zerohedge
Global stocks slide after Fed chief warns of a slow recovery and Trump fans US-China tensions – businessinsider
A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns – cnbc
Fed’s credit operation launched, but job already done – Reuters
Sovereign debt risk after the virus – pictet
Deutsche Telekom profit, revenue increases – Marketwatch
Australia Employment Slumps by Record 594,300 – Bloomberg
Australia just lost 600,000 jobs. Economists warn the reality behind that figure is much worse. – businessinsider
Stocks drop as virus recovery begins to look distant – Reuters
WHO warns it could take up to 5 years before the coronavirus pandemic is under control – cnbc



Wednesday 05/13

UK economy shrinks by 2% as Covid-19 slump begins – business live – guardian
In Major U-Turn, NJ To Begin ‘Partial Reopening’ Monday; 5% Of Spain Already Has The Virus, Survey Shows: Live Updates – Zerohedge

Italy adopts massive coronavirus economic package – politico
The Worst Is Over: Goldman Finds US Economy Is Now “Through The Trough” – Zerohedge
Stocks Tumble After Powell Says “Fed Not Looking At Negative Rates” – Zerohedge
JPMorgan Says Benefit of Negative U.S. Rate Might Outweigh Costs – Bloomberg
PPI Exposes Real-Life Under Lockdown – Booze Costs Soar As Gas Prices Plunge – Zerohedge
Sub-Zero Gas Prices Seen Possible by One of China’s Biggest Sellers – Bloomberg
Stock buybacks are on track to be the lowest ever this quarter – cnbc
Euro zone industry output suffers deepest monthly fall on record – Reuters
JPMorgan is ‘underweight’ on financial stocks in emerging markets. Here’s why – cnbc
Norway oil fund dumps Anglo American, Glencore – Marketwatch
Maersk warns global container demand to shrink this year – Reuters
UK economy shrinks by 2% in the first quarter as coronavirus lockdowns begin to take toll – cnbc
Reserve Bank of NZ doubles bond purchases – Marketwatch

RBA Owns Nearly 7% of Australian Government Bond Market – Bloomberg




Tuesday 05/12

Companies strive to keep working under Covid-19 restrictions – business live – guardian

U.S. reports record $738 billion budget deficit in April – Reuters
India to provide $266 billion to boost pandemic-hit economy – cnbc
Public Pension-Fund Losses Set Record in First Quarter – wsj
Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound – businessinsider
Saudi Aramco profit falls 25% but dividend in line with planned payout for year – Reuters
Trump Hails ‘Gift’ of Negative Rates That Fed Officials Disdain – Bloomberg
US: Deflationary forces intensify – ing
Are the ECB and BoJ approaching the limits of conventional QE programs? – ftse
Core CPI Crashes By Most On Record; Food Costs Soar As Energy & Apparel Collapse – Zerohedge
China announces new tariff waivers for some U.S. imports – Reuters
Peter Schiff: These Jobs Aren’t Coming Back – Zerohedge
World’s Biggest Wealth Fund Faces Record $37 Billion Withdrawal – Bloomberg
GRAPHIC-$15 trillion and counting: global stimulus so far – Reuters
Negative Interest-Rates are arriving in the United States – notayesmanseconomics
Vodafone warns of coronvirus hit, swings to profit – Marketwatch
Japanese shares dip, Toyota drops after earnings warning – Reuters
Google parent Alphabet’s stock price target raised by Citigroup, sees strong rebound from COVID-19 in 2021 – Marketwatch
Stocks falter as anxiety grows over second coronavirus wave – Reuters
Fed Will Start Buying Bond ETFs Tuesday; Blackrock To Make Over $15 Million In Fees – Zerohedge


Monday 05/11

Global stocks lifted by Covid-19 lockdown relaxation measures – business live – guardian

Yuan, Futures Slide After Trump Orders Retirement Fund Investment In Chinese Stocks Blocked – Zerohedge
“A Tsunami Of Anger”: Chinese Officials Call For Renegotiation Of “Phase One” Trade Deal – Zerohedge
Saudi Arabia says it will cut oil production by an additional 1 million barrels per day – cnbc
Fed’s Q2 GDP Estimate At -34.90%… So What Now? – Zerohedge
The economic impact of Covid-19 in Europe and the US: Outbreaks and individual behaviour matter a great deal, non-pharmaceutical interventions matter less – vox
There are 6 reasons why Goldman Sachs sees the market dropping nearly 20% in 3 months – cnbc
Italy March Industry Output Plunges 28% Month-On-Month on Coronavirus Lockdown, Steepest Drop on Record – nyt
Avianca, one of Latin America’s largest airlines, files for bankruptcy – businessinsider
Key Events In The Coming Week: Things Finally Slow Down – Zerohedge
Saudi Arabia Running Out Of Money: Riyadh To Slash Spending By $27 Billion, Suspend Cost Of Living Allowance – Zerohedge
Pushed into austerity by virus and oil slump, Saudi triples VAT rate – Reuters
The economic devastation wrought by the pandemic could ultimately kill more people than the virus itself – latimes
Apple To Move A Fifth Of iPhone Production From China To India In Massive Supply-Chain Shift – Zerohedge
South Korea’s May 1-10 exports dive as coronavirus wipes out global demand – Reuters
Chinese investment in U.S. drops, pandemic to weigh on this year’s bilateral flows: report – Reuters