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The Monday Mix: March 2 – 8, 2020

Headlines discussed at LNWM’s Monday morning briefing:

The yield on 30-year Treasury bonds fell below 1% (to 0.85 basis points), a record low, as investors sought safety amid fears of rececession and conoravirus spread.

Italy became 1st western country to lock down an entire region, as coronavirus spread in the US, and CDC increased travel warnings.

Oil prices are down 50% so far in 2020 as OPEC + Russia failed to agree on production cuts; Saudia Arabia aiming to grab share by ramping up output.

The Federal Reserve cut its key lending rate by 50 basis points, to 1% – 1.25% — 1st emergency cut since 2008 — with more cuts and stimulus expected.

The US  job market remained strong in Feb., with 273,000 new jobs added, indicating economy was on solid footing as coronvarus hit.