TOP MARKETS NEWS: Week 03/02 – 03/08

Weekend 03/07 & 03/08

PIMCO sees mild recession due to virus but tight credit poses risk – Reuters
Assume Crash Positions: Goldman Cuts Brent Price Target To $30 “With Possible Dips Near $20” – Zerohedge

Oil now a ‘bigger problem for markets than the coronavirus,’ analyst says – cnbc

What is a state of emergency and why are governors declaring them as the coronavirus spreads? – Marketwatch

Market Bloodbath: Middle East Stocks Crater; Kuwait Halted; Aramco Below IPO; Dow Indicated Down 500 – Zerohedge
Saudi Arabia to hike oil output above 10 million bpd in April after OPEC+ deal collapse – Reuters
Saudi Arabia Launches Oil Price War Following OPEC-Russia Rift – theepochtimes
Global Air Traffic Set For Worst Year On Record – Zerohedge

Lebanon to default on debt amid financial unrest – DW
Goldman: A Corona Recession Will Send The S&P To 2,450 By Year End – Zerohedge
China reports almost all new infections outside Wuhan originated abroad – Reuters
China January-February exports tumble, imports slow as coronavirus batters trade and business – Reuters
Stock-market investors are dreading weekends as coronavirus spread accelerates – Marketwatch
Week ahead: (We are on) a rate cut highway to hell – nordea
Coronavirus: US firms expect outbreak to hit Taiwan economy, with China trade war fears also lingering – scmp
Spiraling Virus Fears Are Causing Financial Carnage – nyt
COVID-19: Implications for business – mckinsey
Factbox: The economic remedies for the coronavirus – Reuters

 

 

Friday 03/06

Stock markets fall as coronavirus pushes UK bond yields to record lows – business live – guardian
Bonds Hit Historic Lows, Prompting Fed to Ponder: What More Can We Do? – nyt
Robust U.S. job growth boosts economy as coronavirus rages – Reuters
OPEC oil cuts deal in trouble as Russia resists – Reuters
Gold surges, on pace for sharpest weekly rise since 2008 financial crisis – Marketwatch
10-year Treasury yield hits all-time low of 0.808% as coronavirus rocks markets – cnbc

 

 

Thursday 03/05

Businesss Live – guardian

Italian coronavirus death toll jumps, government doubles financial help – Reuters
It’s time to bet on risky cyclical stocks, top JPMorgan strategist says – cnbc
Indian Government Nationalizes 4th Largest Bank As Shadow Banking Crisis Looms – Zerohedge
Earnings estimates are plummeting in Europe. Here’s what that means for the US – cnbc
US Factory Orders Tumble In January – Sixth Straight Month Of YoY Contraction – Zerohedge
What companies are set to suffer in a COVID-19 recession? – saxo

U.S. stocks may fall another 11% due to virus damage-index provider MSCI – Reuters
Japan to suspend visas for Chinese, South Korean visitors, quarantine them – Reuters
GLOBAL MARKETS-Asian shares grind higher, virus risks block the way – Reuters

 

 

 

Wednesday 03/04

Governments urged to boost spending to fight coronavirus risks, as World Bank pledges $12bn – business live – guardian

Dow soars more than 1,100 points as market rallies off Biden win, UnitedHealth pops 10% – cnbc
‘Joementum’ Sparks Stock Buying-Panic, Rate-Cut Hopes Soar – Zerohedge
Bond Watch: Powell pushes the panic button – nordea
IMF chief says coronavirus erases hopes for stronger growth in 2020 – Reuters
These stocks soared the most after Biden burned Bernie on Super Tuesday – Μarketwatch
Beige Book Shows Growing Coronavirus Panic Across US Economy – Zerohedge
BMO: Negative Rates Are Coming To The US – Zerohedge
IMF chief says global growth outlook now ‘more adverse’ – Marketwatch
After Crushing Its Clients, JPMorgan Now Sees 50% Chance Of Zero Rates This Year – Zerohedge
Canada Shock And Awe: BOC Unexpectedly Cuts By 50bps, Most Since Crisis; “Ready To Adjust Further” – Zerohedge
US Services Economy Best In A Year Or Worst In 7 Years – Take Your Pick! – Zerohedge

ADP Employment Data Signals No Covid-19 Effects… Yet – Zerohedge
Italian government to close schools, universities to contain coronavirus:Ansa – Reuters
This Wasn’t Supposed To Happen: One Day After Fed Rate Cut, Repos Signal Record Liquidity Shortage – Zerohedge
Euro zone businesses stepped up pace in February but trouble brewing: PMI – Reuters
GLOBAL MARKETS-Asian shares struggle for traction as Fed cut fails to boost confidence – Reuters
China’s services activity plunges as virus wipes sales – Caixin PMI – Reuters

 

 

Tuesday 03/03

Donald Trump demands US rate cut ahead of G7 coronavirus talks – business live – guardian
Coronavirus update: 91,313 cases, 3,118 deaths, at least 105 sickened in the U.S. – Marketwatch

WHO says coronavirus death rate is 3.4% globally, higher than previously thought – cnbc
Trump calls on Fed to cut rates further after emergency move – Reuters
U.S. 10-year yields fall below 1% for first time ever – Reuters
Stocks Plunge, Erase Fed-Cut Spike – Here’s What Wall Street Thinks – Zerohedge

Federal Reserve announces its first emergency rate cut since the financial crisis – CNN
Liquidity Panic Is Back: Fed’s Repos Massively Oversubscribed Amid Market Turmoil – Zerohedge
Coronavirus: will China’s economy shrink for the first time since the Cultural Revolution in 1976? – scmp
Foxconn’s China production to return to normal this month – asianikkei

BMW releases details of its new electric car to rival Tesla – cnbc

G-7 countries promise to use policy tools but offer no specific actions to combat coronavirus – cnbc

Hottest Bond Market in History Is Starting to Make Some Nervous – Bloomberg

OPEC ministers to meet in Vienna to face coronavirus threat to oil demand – Reuters

Money, money, money: what’s at stake if Olympics fall victim to coronavirus – Reuters
Italy splashes cash to help virus-hit economy; hospitals reach breaking point – cnbc
Australia’s central bank cuts rates over outbreak – Marketwatch

 

Monday 03/02

Business Live – guardian
Stock market live updates: Dow rallies nearly 1,300, no more correction, Apple jumps 9% – cnbc

Stock market live updates: Dow jumps 1,290 points in biggest-ever point gain – yahoofinance
Fed Watch: Powell signals easing is coming – new Fed forecast – nordea
GE’s stock gets a boost from an upgrade by the last bearish analyst – Marketwatch
US asset markets: What Fed cuts mean for US Treasuries and the dollar – ing

Goldman now sees the Federal Reserve getting even more aggressive in the face of coronavirus scare – cnbc

Economists Slash Global Growth Forecasts as Coronavirus Spreads – nyt

Global Manufacturing PMI Crashes To Weakest Since 2009 – Zerohedge
Coronavirus hits global factories, policy easing prospects rise – Reuters
US Manufacturing Growth Slows As New Orders, Imports Slump – Zerohedge
A brief history of the Federal Reserve’s emergency rate shifts – BNNBBG
Bank Of Japan Buys Record 101 Billion Yen In ETFs To Stabilize Markets – Zerohedge