Retailers Prepare For Civil Unrest; Boarded-Up Stores Seen From SoHo To Beverly Hills

March 30, 2020@5:25 PM TFP Editor 0

Retailers Prepare For Civil Unrest; Boarded-Up Stores Seen From SoHo To Beverly Hills High-end stores across the country have been boarding up their stores in anticipation of civil unrest due to the Chinese coronavirus pandemic. In Beverly Hills, the Pottery Barn and West Elm stores near Rodeo Drive were spotted with boards across the windows according to TMZ. Meanwhile, stores in New York, San Francisco, Seattle, Chicago, Paris, Vancouver and elsewhere were similarly boarded up. The “Magnificent Mile” in Chicago today. It looks like Chile [Read More]

Coronavirus: Millions of garden plants set to be binned

March 30, 2020@4:31 PM TFP Editor 0

Image copyright Getty Images Millions of plants, shrubs and trees could be binned in the coming days and weeks, meaning ruin for UK growers. The closure of 2,000 garden centres and nurseries mean makers of what’s called “ornamental horticulture” have no outlet for their plants. The Horticultural Trades Association (HTA) is asking the government for financial assistance of up to £250m to help the industry avoid collapse. It warned that up to a third of producers could go bust. Ornamental plant growers’ main assets are [Read More]

“Stop The Revolver Run”: Cash-Strapped Banks Quietly “Discourage” Companies From Drawing Down Their Loans

March 30, 2020@4:05 PM TFP Editor 0

“Stop The Revolver Run”: Cash-Strapped Banks Quietly “Discourage” Companies From Drawing Down Their Loans One week after the Fed expanded its “bazooka” by launching a “nuclear bomb” in the words of Paul Tudor Jones , at fixed income capital markets which it has now effectively nationalized by monetizing or backstopping pretty much everything, some signs of thaw are starting to emerge in the all important commercial paper market, where the spread to 3M USD OIS is finally starting to tighten, coming in by 60bps overnight. [Read More]

Stocks Bid Into Month-End Despite Americans’ Unprecedented Scramble For Cash

March 30, 2020@3:01 PM TFP Editor 0

Stocks Bid Into Month-End Despite Americans’ Unprecedented Scramble For Cash Amid an ever-escalating guess at the size of pension fund re-allocations funds (latest we saw was $150 billion) into month-end, both bonds and stocks were bid early on today, but as the day wore on, bonds weakened as stocks gained (driven by record IG issuance-driven rate-locks)… Source: Bloomberg But while some are rebalancing into stocks, the scramble for cash among average Americans has almost never been more panicky… Source: Bloomberg Just as notably, crude oil [Read More]