From yahoo.finance:
"Stock futures fell sharply on Monday before posting a stunning reversal, indicating a higher when Wall Street begins trading as world policymakers race to contain the fallout from the coronavirus pandemic.
Unprecedented levels of volatility and an economy in free-fall prompted the Federal Reserve to announce a broad new, open-ended effort to calm markets, which will include buying unlimited amounts of government and investment grade corporate debt.
“Fed policy is shifting into a higher gear to try to help support the economy which looks like it is in freefall at the moment,” Chris Rupkey, chief financial economist at MUFG Union Bank, wrote in an email. “The central bank is shifting from being not just the lender of last resort, but now it is the buyer of last resort. Don't ask how much they will buy, this is truly QE [quantitative easing] infinity.”
The Fed’s move “will go a long way to reassuring investors the Fed has their backs and will stop the growing credit crisis in its tracks,” Rupkey added. “Yield spreads should narrow and the stock market should rest easier now that the Federal Reserve is giving it all it's got.”"
Please google/whatever the post title to read more
Comments
Great move. Hyperliquidity will keep businesses afloat and enable them to take care of their employees. Let the corporations borrow on the open market . . . those that can. Please note that some that can't are airlines, casinos, hotels, cruiselines and Trump properties. That's what this is all about Trump is bankrupt.
Hopefully, these swine in Congress will head for their bunkers and leave us TF alone and not pass anything. America is better off without Washington.
And so it goes
Peace and Flatten the Curve
Rono