The Monday Mix: March 9 – 15, 2020

Headlines discussed at LNWM’s Monday morning briefing:

The Federal Reserve cut its target interest to zero and announced $700 billion in gov’t bond purchases, on top of $1.5 trillion in liquidity for overnight lending market; US stock markets fell on the news.

Chinese manufacturing fell 13% in Jan. and Feb. 1st drop in modern history, with retail down 20%; some foresee a drop in China’s 1st quarter GDP. 

The House, with support from Trump admin., voted to provide relief for Americans affected by coronavirus, including paid sick leave, unemployment and healthcare coverage.

Eight of the largest US banks, including JP Morgan, BoA, Citibank, will stop buying back their own stock, per industry trade group. 

Germany is open to deficit spending (after decades of a balanced budget), as the Eurozone teeters on recession and ECB stimulus falls short. 

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