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  • FedEx Suspends 2020 Forecast

    ZeroHedge - Mar 17th 2020 4:25pm EDT

    FedEx Suspends 2020 Forecast After several consecutive quarters of missing the top and bottom line, the global logistics carrier finally had a good quarter… just as the world is grinding to a halt. FedEx reported adjusted Q3 EPS that beat the average analyst estimate, which was great, but not so great is that the company […]

  • Markets In Crisis: Gundlach Live Webcast

    ZeroHedge - Mar 17th 2020 4:17pm EDT

    Markets In Crisis: Gundlach Live Webcast Jeffrey Gundlach, the billionaire chief investment officer of DoubleLine Capital, is scheduled to conduct his periodic live webcast for his DoubleLine Total Return Bond Fund at 4:15 p.m. New York time. With the webcast coming in a time of markets in crisis, the theme of the webcast today is […]

  • ‘Helicopter Money’ Sparks Bond Backlash, Stocks Bounce On Fed Bailout, But Bank Liquidity Worsens

    ZeroHedge - Mar 17th 2020 4:00pm EDT

    ‘Helicopter Money’ Sparks Bond Backlash, Stocks Bounce On Fed Bailout, But Bank Liquidity Worsens US futures traded limit up overnight, plunge back to the lows of the day, soared back above overnight highs, dumped again, ripped again, then slumped… 1000s of Dow points in the swings on the back of various political and monetary headlines […]

  • Global Financial Crisis 2.0: CPFF Down, AMFL, MMIFF, PDCF And TAF On Deck

    ZeroHedge - Mar 17th 2020 3:50pm EDT

    Global Financial Crisis 2.0: CPFF Down, AMFL, MMIFF, PDCF And TAF On Deck Authored by Rabobank US rates strategist Phillip Marey Today the Fed finally relaunched its Commercial Paper Funding Facility (CPFF). Through this facility the Fed finances a special purpose vehicle that purchases 3 month commercial paper from eligible users. In this way the […]

  • Zoltan Stares Into The Abyss: Here Is What The Fed Must Do Right Now To Avoid Global Devastation

    ZeroHedge - Mar 17th 2020 3:35pm EDT

    Zoltan Stares Into The Abyss: Here Is What The Fed Must Do Right Now To Avoid Global Devastation Two weeks ago, on March 3, before a liquidity panic had gripped capital markets, corporations and global banks, Credit Suisse repo icon and former NY Fed staffer, Zoltan Pozsar issued a recommendation to halt the funding crisis […]

  • Peter Schiff: We’ve Passed The Point Of No Return

    ZeroHedge - Mar 17th 2020 3:20pm EDT

    Peter Schiff: We’ve Passed The Point Of No Return Via SchiffGold.com, The Federal Reserve cut rates to zero and expanded quantitative easing on Sunday. How did the markets reward this latest monetary stimulus? They crashed. In his podcast, Peter said he thinks we’ve passed the point of no return. The Dow Jones plunged another 2,997 points, a […]

  • More National Guard Troops Deployed In Geogia Than People Who’ve Tested Positive For Covid-19

    ZeroHedge - Mar 17th 2020 2:50pm EDT

    More National Guard Troops Deployed In Geogia Than People Who’ve Tested Positive For Covid-19 Authored by Mac Slavo via SHTFplan.com, If ever there was evidence that the media is overreacting and causing unnecessary mass panic amongst the public, it can be seen in Georgia.  The state’s governor has called in 2,000 national guard troops to […]

  • New York Suspends Collection Of Medical, Student Debt

    ZeroHedge - Mar 17th 2020 2:35pm EDT

    New York Suspends Collection Of Medical, Student Debt With the US – and global – economy now officially in recession as even Goldman capitulates, as tens of thousands of New Yorkers suddenly find they are unable to log into the state’s unemployment benefits website, as Elizabeth Warren renews her call for an unprecedented student debt […]

  • Port Of Los Angeles Container Volume Plummets Most Since Financial Crisis

    ZeroHedge - Mar 17th 2020 2:35pm EDT

    Port Of Los Angeles Container Volume Plummets Most Since Financial Crisis Over the weekend, the Port of Los Angeles has published its latest data about monthly container statistics. Surprising exactly nobody, it was very ugly. As Saxobank’s Christopher Dembik writes, the drop in container volumes at Port of Los Angeles was -22.87% in February, which […]

  • US Postpones April 15 Tax Deadline By 90 Days

    ZeroHedge - Mar 17th 2020 2:15pm EDT

    US Postpones April 15 Tax Deadline By 90 Days In news that will delight millions of Americans – at least those who end up owing Uncle Sam a tax bill instead of getting a refund – the US government will postpone the April 15 tax-payment deadline for tens of millions of taxpayers by 90 days, […]

  • The Wrong Bazooka: Dealers Take Just $10BN Of $500BN Repo

    ZeroHedge - Mar 17th 2020 2:06pm EDT

    The Wrong Bazooka: Dealers Take Just $10BN Of $500BN Repo The Fed may have hoped that when it announced up to $5 trillion in monthly repo capacity last week, it would ease the funding crisis that has dragged the dollar to three year highs. Alas, as Zoltan Pozsar explained earlier (when he demanded a Fed […]

  • “Bloody Tuesday”: In Unprecedented Move, China Expels All Foreign Journalists Working For NYT, WSJ, WaPo

    ZeroHedge - Mar 17th 2020 1:56pm EDT

    “Bloody Tuesday”: In Unprecedented Move, China Expels All Foreign Journalists Working For NYT, WSJ, WaPo In the latest escalation of tensions, China announced on Tuesday that it would expel all foreign journalists working for the New York Times, WSJ and the Washington Post. It also demanded that those outlets – as well as VOA and […]

  • Facebook Employees To Receive $1,000 Bonus During COVID-19 Outbreak

    ZeroHedge - Mar 17th 2020 1:45pm EDT

    Facebook Employees To Receive $1,000 Bonus During COVID-19 Outbreak Facebook is giving every employee a $1,000 bonus in order to help with bills during the coronavirus outbreak, according to The Information. CEO Mark Zuckerberg announced the cash relief in an early Tuesday internal company notice, adding that he wants to support employees working from home […]

  • Ron Paul: Be Wary Of Over-Reaching Government Responses To Covid-19

    ZeroHedge - Mar 17th 2020 1:30pm EDT

    Ron Paul: Be Wary Of Over-Reaching Government Responses To Covid-19 Authored by Ron Paul, op-ed via The Orange County Register, Governments love crises because when the people are fearful they are more willing to give up freedoms for promises that the government will take care of them. After 9/11, for example, Americans accepted the near-total […]

  • Congress Must Pass $2 Trillion TARP Or Face Global Depression: Minerd

    ZeroHedge - Mar 17th 2020 12:40pm EDT

    Congress Must Pass $2 Trillion TARP Or Face Global Depression: Minerd Guggenheim Investments’ CIO Scott Minerd has been very vocal about policymakers’ and the markets’ cognitive dissonance regarding its extreme fragility and the impact of the virus on the global economy. Having seen central banks and politicians begin to address the issue – and fail […]

  • Market Stalls As White House Task Force Warns “We’re Failing To Contain Virus”

    ZeroHedge - Mar 17th 2020 12:30pm EDT

    Market Stalls As White House Task Force Warns “We’re Failing To Contain Virus” The State Department’s Ambassador Deborah Birx poured some cold-water on Powell & Mnuchin’s coporate bailout rally when she told the American public that more must be done to contain this virus: “If Americans continue going to bars, restaurants, other public places, we […]

  • Did Obama-Era CDC Bureaucrats Botch The Coronavirus Testing Response?

    ZeroHedge - Mar 17th 2020 12:25pm EDT

    Did Obama-Era CDC Bureaucrats Botch The Coronavirus Testing Response? By now, it’s become abundantly clear that the federal government’s sluggishness in distributing functioning tests to labs around the country is one reason why governors and big-city mayors across the country are closing schools and businesses in preparation for a de facto 2 week quarantine. The […]

  • Dollar Shortage Unexpectedly Surges After Fed Commercial Paper Bailout

    ZeroHedge - Mar 17th 2020 11:55am EDT

    Dollar Shortage Unexpectedly Surges After Fed Commercial Paper Bailout The stock market is rallying, VIX is falling, and bond yields are rising modestly following The Fed’s decision to reinstate its Commercial Paper bailout facility (CPFF). As Bloomberg notes, the spread of Libor to overnight index swaps should tighten as the Federal Reserve ramps up the […]

  • Watch Live: White House Holds Daily Coronavirus Task Force Briefing

    ZeroHedge - Mar 17th 2020 11:41am EDT

    Watch Live: White House Holds Daily Coronavirus Task Force Briefing With US stocks back in the green, White House is holding yet another press conference to discuss the latest progress in the response. Will Trump announce the massive $850 billion stimulus package that has been kicking around all morning? Watch live:     Tyler Durden […]

  • Risk Limits Hit: When Too Little Is Too Much

    ZeroHedge - Mar 17th 2020 11:40am EDT

    Risk Limits Hit: When Too Little Is Too Much Authored by Lance Roberts via RealInvestmentAdvice.com, For the last several months, we have been issuing repeated warnings about the market. While such comments are often mistaken for “being bearish,” we have often stated it is our process of managing “risk” which is most important. Beginning in mid-January, we […]

  • Online Searches For “Unemployment Benefits” Soar After Virus Crashes Gig-Economy

    ZeroHedge - Mar 17th 2020 11:25am EDT

    Online Searches For “Unemployment Benefits” Soar After Virus Crashes Gig-Economy It was only Monday when we reported New York’s unemployment website crashed as tens of thousands of people out of work tried to file a claim all at once.  Last week, we warned that the gig-economy and service industry was expected to implode as a “coronavirus winter” unfolded across […]

  • Nomura: ‘Quad Witch’ Friday Could Trigger “Un-Sticking” Of Insanely High Volatility

    ZeroHedge - Mar 17th 2020 11:10am EDT

    Nomura: ‘Quad Witch’ Friday Could Trigger “Un-Sticking” Of Insanely High Volatility It’s ‘quad witch’ week, which historically has meant a collapse in vol and surge in stocks – no matter what the news. But, this week (and last) has been different, to say the least. However, as Nomura’s Charlie McElligott explains below, this Friday’s option […]

  • The Lehman Playbook Is Back: Fed Announces Bailout Of Commercial Paper Market

    ZeroHedge - Mar 17th 2020 10:55am EDT

    The Lehman Playbook Is Back: Fed Announces Bailout Of Commercial Paper Market It was supposed to be announced late on Sunday, but instead Powell hoped that the bazooka of QE/ZIRP/FX swaps would be sufficient to ease the funding panic. It wasn’t, and instead, with a 2-day delay, moments ago the Fed announced that, just as […]

  • Fed Again Announces Extra $500BN Repo To Stabilize Funding Markets

    ZeroHedge - Mar 17th 2020 10:45am EDT

    Fed Again Announces Extra $500BN Repo To Stabilize Funding Markets Earlier this morning, when discussing the latest Fed repo injections, which at $189BN between overnight and term repos, seemed insufficient to ease the stress in the repo market where GC repo jumped by 40bps to 60bps this morning… we said that “with no other repos […]

  • “What The F**k Are These Guys Smoking…?”

    ZeroHedge - Mar 17th 2020 10:30am EDT

    “What The F**k Are These Guys Smoking…?” Authored by Bill Blain via MorningPorridge.com, “Well, it has to happen. Because if it doesn’t happen, we hit the wall next week. We’re already in breach.” Happy St Patricks day. Extra points for identifying the moment in Irish history in this morning’s quote…  Meanwhile… back in Today Yesterday […]