March 23 (Monday)

YRI Express
Morning Briefing PDF 
Daily Markets Overview

Markets
Wall Street braces for another bleak week, with coronavirus risks amplified R
Stock futures drop more than 4%, briefly hit ‘limit down’ as investors await a stimulus agreement C
The Worst of the Selloff Isn’t Here Yet, Banks and Investors Warn W

Credit & commodities
Treasury Market in Tumult Stares Down $340 Billion More Debt B
Virus and Oil-Price Plunge Buries Shale and Occidental’s Big Bet W

Central banks
Fed’s Bullard: Coronavirus shutdown not a recession but an investment in survival R

US
Top Economists See Echoes of Depression in U.S. Sudden Stop B
Coronavirus-Triggered Downturn Could Cost Five Million Jobs W
Big Companies Display Largess During Crisis—but for How Long? W
How CEOs Are Handling the Challenges of an Upside-Down World W

China
Coronavirus-Led Slowdown Tests the Mettle of China’s Shadow Banks W

US politics
Democrats Block Senate Economic Stimulus Bill as Talks Falter B
Coronavirus aid bill includes $3,000 for families, $4 trillion liquidity for Fed: Mnuchin R
The government budget deficit is about to explode to fight the coronavirus C
Biden Says ‘No Need’ to Postpone November Vote Over Virus B

Industries & companies
Agriculture: Coronavirus Hits Already Frail U.S. Farm Economy W
FAANGs: OK, Fine, Let’s All Get Back on Facebook W
Financials: Goldman makes bold upgrade of Boeing shares, saying it has enough cash and air travel will return C
Hotels: Marriott, Hotel Owners Furlough Thousands of Workers, Cut Staff W
Technology: Samsung’s Shift Away From China Looked Smart, Then Coronavirus Hit W

Virus I
Coronavirus cases top 300,000 worldwide as US becomes one of worst hit countries C
These charts show how fast coronavirus cases are spreading — and what it takes to flatten the curve C
New York state has more coronavirus cases than France or South Korea as infections soar to 15,168 C
Italy Bans Movement Inside Country as Another 651 People Die B
Jails Release Prisoners, Fearing Coronavirus Outbreak W

Virus II
Nearly a third of U.S. under orders to stay at home R
Trump activates National Guard in California, New York and Washington state: ‘This is a war’ C
A Onetime Germ-Warfare Site Is Army’s Front Line in Coronavirus Battle W
FDA grants ‘emergency use’ coronavirus test that can deliver results in 45 minutes C
Pence Vows Coronavirus Testing Backlog Resolved by Midweek B

Virus III
Sen. Rand Paul tests positive for coronavirus C
Chancellor Angela Merkel in quarantine after contact with doctor who tested positive for coronavirus C
Harvey Weinstein Tests Positive for Coronavirus, Deadline Says B
IOC Considers Postponing Tokyo Olympic Games W

Corporate finance
WeWork’s Board Prepares for a Fight as SoftBank Gets Cold Feet W

Offbeat
One start-up investor told companies to scrap 2020 forecasts and just get through the quarter C