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Stranger Than Fiction
A brief daily note of things you might find interesting or useful
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TOP NEWS
A coronavirus bill fails in the Senate. The bill was focused on bailing out corporations and did not provide enough aid to individuals facing unemployment and loss of income. The 47-47 vote on a procedural motion to move the bill forward fell short of the 60 votes needed to proceed.
Fed announces more moves to steady markets. The Fed said it would lend up to $300 billion to corporations, small businesses and will purchase whatever amount needed of Treasuries, an unlimited bond-buying plan. Meanwhile, the U.S. ordered up to a year break on mortgage payments for homeowners struggling during the coronavirus crisis.
Markets reacted overnight to the delay for Congress to act. S&P futures halted down 5% but later resumed and since bounced back to being down 3%. European and Asian markets fell sharply.
German chancellor Angela Merkel was placed under quarantine. A doctor who administered a vaccine to her last Friday tested positive for the coronavirus. Her deputy, FM Olaf Scholz will run the cabinet meeting today to draft an emergency budget which includes raising borrowing to €150 billion this year and loan guarantees to help businesses.
India moved to suspend all but essential services and closed much of its public transportation. Domestic flights have been suspended, incoming international flights have been halted. As of yet, the country with one of the largest populations in the world only has seven deaths and 415 confirmed cases.
New Zealand imposing self-isolation. All-non-essential services, schools and offices in New Zealand are to be shut over the next 48 hours as the number of coronavirus cases more than double.
THE ELECTION
THE COMMENT
“The way it happened is that after he made that statement [suggesting China could have revealed the discovery of a new coronavirus three to four months earlier], I told the appropriate people, it doesn't comport, because two or three months earlier would have been September. The next time they sit down with him and talk about what he’s going to say, they will say, by the way, Mr. President, be careful about this and don't say that. But I can't jump in front of the microphone and push him down. OK, he said it. Let's try and get it corrected for the next time.” - Anthony Fauci, Director of National Institute of Allergy and Infectious Diseases
THE STRANGEST
THE AV ROOM