Governments and central banks are working to save the market 各国政府及央行致力救市的行动

European Central Bank announced measures to support bank lending and expanded its asset purchase program by 120 billion euros ($135.28 billion). 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. Britain also responded this week, unveiling a budget that included 30 billion pounds (about $38 billion) to address the pandemic. Italy has outlined plans to spend 25 billion euros (about $28 billion).

President Trump plans to declare a national emergency on Friday at 3 PM ET over the coronavirus outbreak, invoking the Stafford Act to open the door to more federal aid for state and municipalities, according to a report from Bloomberg, citing people familiar with the matter. ---Bloomberg

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

The Federal Reserve has accelerated its schedule for bond-buying, launching operations Friday across the duration spectrum as the market continues to struggle with coronavirus effects. In a morning announcement, the New York Fed said its trading desk will start with the long end of the market with 20- and 30-year securities in the morning and proceed through the day down the curve. The operations are part of the $60 billion in month the central bank already had been buying but targeted at short-term Treasury bills.  ---CNBC





欧洲中央银行宣布了支持银行贷款的措施，并将其资产购买计划扩大了1200亿欧元（合1352.8亿美元）。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。今晨继续采取行动的央行还有挪威央行降息50个基点，日本银行提出购买更多债券，中国人民银行削减某些银行的法定准备金率。英国也在本周做出回应，公布了包括300亿英镑（约合380亿美元）的预算，以应对这一大流行病。意大利已概述了支出250亿欧元（约合280亿美元）的计划。

彭博社援引知情人士的话说，特朗普总统计划在周五东安时间3时宣布有关冠状病毒爆发的全国紧急状态，并援引《斯塔福德法案》，为向州和市提供更多联邦援助敞开大门。 ---彭博

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

美联储加快了债券购买的时间表，由于市场继续面对冠状病毒的影响，周五开始在期限内进行操作。纽约联储在早间的公告中表示，其交易部门将从早上20到30年期证券的长期市场开始购买，然后到短期证券。这些操作是央行每月已购买的600亿美元的一部分，但目标是短期国库券。 --- CNBC