WHITE HOUSE WATCH: FED’S POWELL: ‘HAD TO DO MORE;’ TRUMP HAPPY
–FOMC Cuts Fed Funds Rate A Full Percentage Point to Near Zero –Stocks Futures ‘Limit Down’ Despite Fed Rate Cut –Corona Virus Testing Regime Days Away From Upgrade By Denny Gulino WASHINGTON (MaceNews) – The economic and financial response to the virus crisis took a giant step Sunday, a Federal Reserve rate cut to near […]
WHITE HOUSE WATCH: UK/IRELAND ADDED TO TRAVEL BAN; FED’S POWELL THREATENED
—Trump: Has ‘Right’ To Remove Powell as Fed Chairman –Senate Considering Virus Response Legislation By Denny Gulino WASHINGTON (MaceNews) – The NIH’s Tony Fauci Saturday repeated his warning that the corona virus fatalities will continue to mount in the U.S. in a briefing in which President Trump confirmed travel from the UK and Ireland is […]
WHITE HOUSE WATCH: INSTITUTIONAL BALM FOR MKTS BUT DEMAND DESTRUCTION DEEPENS
–Declaration of National Emergency Accompanied by New Testing Regime –S&P +9.29%; DJIA +9.36%; Nasdaq +9.35%; US 10-YR 0.981%; Euro/Dlr 1.1104; Dlr/Yen 107.98 By Denny Gulino THE WHITE HOUSE (MaceNews) – From the White House to Ottawa and Germany and beyond, governments Friday applied massive reinforcement of economies and health care mechanisms while the relentless spread […]
BANK OF CANADA CUTS RATES AGAIN
By Gloria Galloway OTTAWA (MaceNews) – The Bank of Canada has slashed its target overnight rate for the second week in a row as it attempts to prop up an economy jolted by the double punch of low oil prices and the spread of the pandemic coronavirus. The bank is cutting its overnight rate by […]
WHITE HOUSE WATCH: MIGHTY US ENGINE OF COMMERCE SLOWS ITSELF FROM CRUISING SPEED
–DJIA -9.99%; S&P -9.51%; Nasdaq -9.43%; WTI -2.485%/$30.69 By Denny Gulino THE WHITE HOUSE (MaceNews) – It’s been something to behold, how the United States is cautiously adjusting at every level to the threat of the corona virus – and how the stock markets have disregarded official reassurances. Day by day, in an orderly manner, […]
ECB RAMPS UP BOND BUYING; DECLINES TO CUT DEPOSIT RATE
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank defied market expectations by declining to move its main deposit rate further into negative territory to combat coronavirus-induced slowdown, but did announce a dramatic expansion of its quantitative easing program on Thursday. That puts the ECB out of step with other major central banks, following […]
WHITE HOUSE WATCH: AN EARNEST PRESIDENT TRUMP GETS SERIOUS
–WHO Declares Corona Virus Spread a ‘Pandemic’ –Stocks Enter a Bear Market With Losses of More Than 5% By Denny Gulino WASHINGTON (MaceNews) – President Trump, his breezy rally personality put aside, addressed the nation Wednesday night to lend gravity to the warnings that Americans must urgently prepare for the increasingly serious threat of the […]
WHITE HOUSE WATCH: CREEPING REALISM VS MARKETS’ EMBRACE OF OPTIMISM
By Denny Gulino THE WHITE HOUSE (MaceNews) – Market optimism overruled medical pessimism for a Tuesday moment, with dreams of some kind of fiscal policy panacea pitted against nightmare scenarios prompted by worsening news about the corona virus and its anticipatory side effects. Stocks roared with rebound buying accelerating into the close. The S&P 500’s […]
WHITE HOUSE WATCH: STOCKS OVERSOLD OR JUST PREMATURELY SOLD?
–President Trump Says Payroll Tax Cut, Income Supplements Suggested to Congress –DJIA Closes -7.8%; S&P -7.6%; Nasdaq -7.3%; 10-Yr 0.575%; German 10-Yr -0.858% –Markets Show a Positive Bounce After Trump Comments as Asia Markets Opened By Denny Gulino THE WHITE HOUSE (MaceNews) – “Good for the consumer, gasoline prices coming down!” Guess who tweeted that? […]
FED OFFICIALS SEE POTENTIAL SUPPLY, DEMAND SHOCKS FROM CORONAVIRUS
By Vicki Schmelzer NEW YORK (MaceNews) – The spread of COVID-19 globally is likely to create both demand and supply shocks, said Federal Reserve speakers Friday. “Supply shocks cause demand responses, cause effects in the banking system that are spillovers,“ said New York Fed President John Williams in Q&A following remarks to the Shadow Open Market […]