- Both the US and the UK launched new facilities to add more liquidity to markets, even as the S&P 500 Index is up over 25% since its March 23rd low (just over two weeks ago):
- The Fed just threw another “kitchen sink” at the markets (h/t Jim Bianco)
- new SPV to buy $500B of munis
- will buy junk now (if downgraded after March 22)
- will buy junk ETFs (now HYG)
- will buy PPP and CARES loans
- expanded existing SPVs
- HM Treasury and Bank of England announce temporary extension of the Ways and Means facility
- The Fed just threw another “kitchen sink” at the markets (h/t Jim Bianco)
- The next financial crisis: A collapse of the US mortgage system – Politico
- We are at a critical juncture for the market – Gavin Baker on Twitter
- Bond market turmoil echoes LTCM hedge fund collapse – John Authers on Bloomberg