World stocks bounced off their lows on Friday on hopes of more central bank stimulus and government spending, but were still set for their worst week since the 2008 financial crisis, with coronavirus panic-selling hitting nearly every asset class. European stock markets rose on hopes of a coordinated stimulus package from world governments after several sessions of sustained, heavy losses on expectations of a global recession that could be prolonged.---Reuters
The jury may still be out on Christine Lagarde’s performance at the European Central Bank yesterday, with the policy moves made overshadowed by her comment that the bank is “not here to close spreads” which sent panic though Italian bond markets. That misfire aside, there was a lot for markets in the package announced. By size, however, the Federal Reserve won the day with a liquidity package which could extend to more than $5 trillion dollars as it announced a series of one and three-month operations. The moves continued this morning, with Norway’s central bank cutting rates by 50 basis points, the Bank of Japan offering to buy more bonds and the People’s Bank of China cutting the required reserve ratio for certain banks.---Bloomberg.com
One day after the biggest drop in European stocks since the financial crisis, German stocks have come roaring back and bond yields have plunged after Finance Minister Olaf Scholz said Friday that Germany would abandon the 'debt break' and will spend "billions" to cushion the economy from the vicissitudes of the global coronavirus outbreak. ---ZeroHedge
After a day of intense negotiations between Speaker Nancy Pelosi of California and the Treasury secretary, Steven Mnuchin, Ms. Pelosi told reporters that “we’ve resolved most of our differences” and the House would vote on Friday on the measure “one way or another.” It would then go to the Senate, which called off a recess that had been scheduled for next week in anticipation of a compromise. The legislation, according to a letter Ms. Pelosi sent to her members, will include enhanced unemployment benefits, free virus testing, aid for food assistance programs and federal funds for Medicaid. The package also ensures 14 days of paid sick leave, as well as tax credits to help small- and medium-size businesses fulfill that mandate. Language was still being drafted for provisions related to family and medical leave, according to a Democratic aide, as staff members worked through the night to prepare the bill. ---New York Times
Treasury Secretary Steven Mnuchin said Friday that the current market sell-off will be short-lived and, as such, looks like a compelling investment opportunity for investors looking to buy equities at a discount. “This is a short-term issue. It may be a couple of months but we’re going to get through this and the economy will be stronger than ever,” the secretary said from the White House. “I look back at people who bought stocks after the crash in 1987, people who bought stocks after the financial crisis. For long-term investors, this will be a great investment opportunity,” he said.---CNBC
标普500期货上涨了5..66％，触及市场熔断机制而停止交易。
周五，世界股市从低点反弹，原因是希望有更多的央行刺激措施和政府支出，但仍处于自2008年金融危机以来最糟糕的一周，冠状病毒的恐慌性打击几乎了所有资产类别。欧洲股市上涨，原因是世界各国政府在全球经济衰退可能会持续很长时间的预期下而连续数次遭受重大持续损失之后，世界各国政府将采取协调一致的刺激计划。--路透社
克里斯蒂娜•拉加德（Christine Lagarde）昨日在欧洲中央银行的表现可能仍未得到认可，这一政策举措因她对欧洲央行“不在此拉近价差”的评论而蒙上阴影，这引起了意大利债券市场的恐慌。除了那个出师不利外，宣布的一揽子计划中有很多利好市场的。然而，按规模计算，美联储在当天宣布了一系列为期一个月和三个月的行动后，可能获得超过5万亿美元的流动性刺激。今晨央行宽松仍在继续，挪威央行降息50个基点，日本央行提议购买更多债券，中国人民银行削减某些银行的法定存款准备金率。---彭博社
在欧洲股市自金融危机以来最大跌幅的一天后，德国财政部长奥拉夫·舒尔茨（Olaf Scholz）周五表示，德国将放弃“债务减免”政策，并将花费“数以亿计美元”来缓解全球冠状病毒爆发对经济的打击。德国股市回升，债券收益率暴跌。 ---Zero Hedge
经过经过来自利福尼亚州的议长南希·佩洛西（Nancy Pelosi）与财政部长史蒂芬·姆努钦（Steven Mnuchin）进行了一天的紧张谈判之后，佩洛西女士告诉记者，“我们已经解决了大多数分歧”，众议院将在周五对这一措施进行投票。”然后去参议院，参议院取消了原定于下周休会的休会期，以期达成妥协。佩洛西女士给她的成员的一封信说，这项立法将包括增加失业救济金，免费的病毒检测，对食品援助计划的援助以及联邦对医疗补助的资金。该计划还确保14天带薪病假，以及税收抵免，以帮助中小型企业履行该任务。一位民主党助手称，由于工作人员通宵准备该法案，有关家庭和病假规定的语言仍在起草中。- - -纽约时报
财政部长史蒂芬·姆努钦（Steven Mnuchin）周五表示，当前的市场抛售将是短暂的，因此，对于希望以折扣价购买股票的投资者而言，这似乎是一个诱人的投资机会。“这是一个短期问题。 可能要等上一两个月，但我们将解决这个问题，经济将比以往任何时候都强大。” 他从白宫说。“我回头看看在1987年买进股票的人，在金融危机之后买进股票的人， 对于长期投资者而言，这将是一个绝佳的投资机会。”他说。---CNBC
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