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Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic aid package in Washington. U.S. stocks have already fallen more than 30% from their mid-February peak as the pandemic has spread, with even the safest areas of the bond market experiencing liquidity stress in a market rout not seen since the 2008 financial crisis. “This is a biological event,” said Nela Richardson, investment strategist at Edward Jones in St. Louis. …read more […]

(Bloomberg) — Bond investors are looking for orientation points this week in a fog of panic that’s paralyzed parts of the world’s biggest and safest debt market.Roughly $340 billion of Treasuries are on the way. That burst of supply could help a market starved of high-quality securities if it lands in less chaotic conditions. But there’s hardly any guarantee of that: The 10-year yield, a benchmark for global borrowing costs, swung in a range of more than 50 basis points in each of the past three weeks, a phenomenon that hasn’t been seen in the past two decades. Rates-market volatility …read more […]

(Bloomberg) — Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.Bullard called for a powerful fiscal response to replace the $2.5 trillion in lost income that quarter to ensure a strong eventual U.S. recovery, adding the Fed would be poised to do more to ensure markets function during a period of high volatility.“Everything is on the table” for the Fed as far as additional lending programs, Bullard said in a telephone interview …read more […]

Goldman Sachs warns the S&P 500 profits will drop 33% in 2020 as Q2 will come with net losses. …read more […]

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Hollywood is being forced to adapt amidst the coronavirus pandemic as some studios have decided to go direct-to consumer earlier than anticipated. …read more […]

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Walt Disney Co. (DIS) has raised almost $6 billion in a debt offering, as the impact of the coronavirus outbreak is putting its cash flow position under strain. COVID-19 will make it more challenging for management to “estimate future performance of our businesses” over the near to medium term, the entertainment giant said in a Securities and Exchange Commission filing. “The impact on the capital markets could impact our borrowing costs”, the company said. Walt Disney has closed theme parks, suspended cruises and theatrical shows, delayed theatrical distribution of films both domestically and …read more […]

The impact of border closures, travel restrictions, restaurant closures and more is already wreaking havoc on the U.S. oil industry, and it is likely to get much worse …read more […]

Since February 19, stock markets have been falling, with the series of roller coaster sessions leaving investors reeling. In the last two weeks, markets fell in six out of ten trading sessions, and the drops were larger than the gains. The S&P 500 finished Friday’s trading session down by 4.4%, and hit a three-year low. Falling markets, however difficult they may be for traders’ portfolio values and companies’ market caps, can be accommodated. Investors can get used to lower stock prices, or can switch to bearish strategies to cope. The bigger question now is, will the economy as a whole …read more […]