Oil Bid today Driving a Bit of as Risk On! Reason
Though specific details were lacking, crude oil prices spiked more than 10% as China starts adding to its strategic petroleum reserves. “Beijing has asked government agencies to quickly coordinate filling tanks, the people said, asking not to be identified because the matter is confidential
President Trump said he is confident Russia and Saudi Arabia will reach a deal soon to solve the oil-price dispute and that he may join the talks if necessary.
Another slight positive for the overall Economy Fed: announced temp change to supp leverage ratio to ease strain in tsy mkt from effect of C-19, it will increase banking organizations’ ability to provide credit to households & biz; the change will temp decrease tier 1 capital requirements by approximately 2% in aggregate https://bit.ly/2UBkX7T (ITC Markets) this appears to be what’s behind the bid in treasury’s I believe this will help the treasury market function as it should and hopefully correct some of the issues that have made it Inefficient as of late. I need to research this topic a bit more. This will likely help Commercial paper and per Bloomberg relieve pressure in Funding markets
China and the U.S. continue to Spar about whom is to blame for virus, and the U.S. is accusing China lying about Total deaths, posturing.
Dr Fauci Says A Domestic travel ban Being Discussed, also Discussions from White House that Masks may be required for people in public
Be aware of Governor Cuomo Daily press briefings, markets react to his Honest yet Sobering Comments.
Worldwide cases likely to hit 1 million this week Scary.U. K to det out lockdown measures
More green the red on the quote board Bunds Lower worries about paying for the fiscal measures, Bonds higher due to treasury announcement. Gold +1% and Stocks with a small Bid Jobless claims another record 6.5 Million claims