Headlines discussed at LNWM’s Monday morning briefing:
— The Federal Reserve said it will gradually shift into buying individual US corporate bonds instead of bond ETFs, to better support market liquidity and function.
— The Federal Reserve has asked US banks to not comment on their financial stress test results until after the market close June 29; some banks could announce dividend cuts.
— New claims for US unemployment benefits totaled 1.5 million last week, the 13th straight week higher than 1 million, as economic pain persists.
— Apple Inc. said it is temporarily re-shutting some of its stores in Arizona, Florida, North and Sorth Carolina, due to Covid-19 upticks.
— With support from the European Central Bank, Eurozone banks are lending heavily — a record 1.3 trillion euros on tap last week — to counteract Covid-19 fallout on companies.
Disclaimer: Clicking on any of the above links will take you away from the LNW web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.
