What You May Have Missed During That Netflix Binge
In these extraordinary times for markets, there’s a lot that investors may have overlooked.
It's been a crowded schedule for market-watchers.
Photographer: Uwe Krejci/Vision Media/Getty Images
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These are extraordinary times. The Federal Reserve opened the week with a package of measures to support the market so drastic that Jim Bianco, head of Bianco Research and a Bloomberg Opinion contributor, commented: “At first blush, it looks like they are nationalizing financial markets, except for equities and high yield. This better work in stabilizing financial markets!” And yet U.S. stocks finished down for the day, as did bond yields, in part because of continuing Congressional drama that saw the Democrats continue to play a risky game and block a $2 trillion fiscal package. By the end of the day, Britain had been put under lockdown for three weeks. In one item of good news, the increase in the Italian death rate appears to be declining. Meanwhile, Spain appears to be entering its own nightmare.