"Markets can still fall from here. Six weeks ago, Dow was 30 percent higher than now. Corrections over a long run are good, it wipes out leverage and then reassert it. Hence, five years from now, those who are adding risk, will feel pretty good about it," he said. … [Read more...] about Economy will recover, take a deep breath and have a long-term perspective, says Larry Fink
Sky harbor west economy parking
"The fall since January 2020 is particularly steep - almost spectacular. It seems to have nosedived in March after having struggled to remain stable over the past two years," the CMIE said about the employment rate. … [Read more...] about Coronavirus impact | India’s unemployment rate hits 23.4%, sees sharp spike after mid-March
On February 1, 2020, when Finance Minister Nirmala Sitharaman presented the Union Budget, she was broadly confronted with challenges of households not spending, companies sitting on mounts of unsold inventory, distressed farmers, a gloomy economy and the extending queue of job hopefuls. … [Read more...] about Big Story | Should FM Sitharaman present Budget 2020 2.0 amid COVID-19 crisis?
“The measure will enable the exporters to realise their receipts, especially from COVID-19 affected countries within the extended period and also provide greater flexibility to the exporters to negotiate future export contracts with buyers abroad,” it added. … [Read more...] about Coronavirus pandemic | RBI announces more measures to deal with COVID-19 fallout
Why is the move a massive sixer? Government Securities were witnessing some transactions in the secondary market. But the market for corporate bonds and commercial papers had dried up. There were expectations in the market, that either the RBI allow repo in corporate bonds over and above G-Secs or it promote an SPV with capital from the government / RBI. That is, generate liquidity in some form, in the dysfunctional corporate bond market, which was not “working from home.” What has been done will have a similar effect; banks will borrow money from the RBI at around 4.4 per cent and deploy in good quality bonds where the yield levels are much elevated nowadays. It is free from mark-to-market volatility as it will be part of the HTM portfolio. Simply put, banks have been thrown open the door to borrow at around 4.4 per cent and deploy the funds at almost double the yield. RBI says investment grade, but banks can stick to AAA or A1+ rated papers from a risk management point of … [Read more...] about RBI comes out all guns blazing to sanitise a struggling financial system