Dax Now +6%,Stoxx 50 +5.3% as futures add to gains Dow, Spoos and nasdaq All >5.7% gains . All is well it appears as Positive Virus comments continue out of Italy ,New York and France at a minimum the Markets are ignoring the Bad and Focus on the Good news. Another New program announced by the Fed T he WSJ is reporting that the central is set to launch a secondary market for banks’ PPP loans, which they will then buy. It makes sense, given the sharp increase that we’ve already seen in C&I lending (see chart below). Taking the PPP loans off the books will give banks more room for additional lending.(Bloomberg)
These worries are the main reason why Hogs traded multi limits lower last week,traders will be on lookout for More stories like this “Tyson plant suspends operation after dozens of workers test positive” this is from a plant in Iowa, the state that slaughters the Most Hogs.This wont be last plant to shut for Virus worries. Prices at retail level will spike on this news but lean Hog front month futures will trade heavy until that supply is exhausted or Absorbed and back months will start to trade or price in less future supply as the back up in actual Hogs will force farmers into producing less .