{"id":40601,"date":"2020-03-25T18:37:10","date_gmt":"2020-03-25T23:37:10","guid":{"rendered":"http:\/\/prefblog.com\/?p=40601"},"modified":"2020-03-25T18:37:10","modified_gmt":"2020-03-25T23:37:10","slug":"march-25-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40601","title":{"rendered":"March 25, 2020"},"content":{"rendered":"
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Two Trillion bucks are on the way<\/a>:<\/p>\n

Stocks on Wall Street rose on Wednesday as investors sized up a $2 trillion coronavirus rescue package intended to shore up the American economy, but the gains faded late in the day as debate over the bill continued without a vote in the Senate.<\/p>\n

The legislation would be the biggest fiscal stimulus package in modern American history, and more than double the size of the roughly $800 billion stimulus package that Congress passed in 2009, during the last recession.<\/p>\n

The S&P 500 climbed more than 1 percent, adding to a 9.4 percent gain on Tuesday that had come as investors anticipated that Democrats and Republicans would reach a deal over the plans.<\/p>\n

Some of the companies expected to benefit from government help led Wednesday\u2019s gains. Boeing was up more than 20 percent, helping lift the Dow Jones industrial average. American Airlines and Carnival Corporation both jumped more than 10 percent.<\/p><\/blockquote>\n

But there are always some who are convinced of a vast conspiracy to do them out of what is rightfully theirs<\/a>:<\/p>\n

A last-minute dispute over jobless aid was delaying a final Senate vote expected on Wednesday to approve sweeping legislation to deliver $2 trillion in government relief for an economy battered by the coronavirus pandemic.<\/p>\n

Four Republican senators said they believed the bill, which would provide a substantial expansion of unemployment insurance, could lead to layoffs and incentivize workers to collect unemployment payments rather than take a job. They argued that because the unemployment benefits would in some cases be greater than people\u2019s regular wages, some employers and employees would decide that layoffs were preferable. The senators said they would object to fast-tracking a vote until their concerns were addressed.<\/p>\n

\u201cIf this is not a drafting error, then this is the worst idea I have seen in a long time,\u201d said Senator Lindsey Graham, Republican of South Carolina. \u201cWe need to create a sustainable system.\u201d<\/p><\/blockquote>\n

We all know someone like Lindsey Graham, eh?<\/p>\n

And it was a good day for Canadian markets<\/a>:<\/p>\n

Canada\u2019s main stock index climbed on Wednesday after the country\u2019s legislators approved a $27-billion stimulus bill to help people and businesses deal with the coronavirus pandemic. The bill also includes $55-billion in the form of tax deferrals.<\/p>\n

The Toronto Stock Exchange\u2019s S&P\/TSX composite index closed unofficially up 568.15 points, or 4.52%, at 13,139.23. It rose as high as 12,906.28 before paring gains late in the session.
…<\/b>
Ten of the index\u2019s 11 major sectors were higher, led by an 8-per-cent jump in the heavyweight energy sector and a 6.7-per-cent increase in financial stocks.<\/p><\/blockquote>\n

Of course, all the disruption is leading to shortages of vital supplies<\/a>:<\/p>\n

Sales of gold bars and coins have been soaring since the outbreak of the novel coronavirus and dealers are struggling to keep up with demand. While orders pour in, the supply has tightened considerably because of government lockdowns, grounded airlines and decisions by several bar and coin producers to close down for safety reasons.
…<\/b>
The U.S. Mint recently sold out of its popular Silver Eagle coin after sales soared by nearly 300 per cent in March. The Perth Mint in Australia, the country\u2019s official supplier of coins and bars, said demand was so strong it no longer had any gold bars in stock and only a limited supply of gold and silver coins.<\/p>\n

Last Friday, the Royal Canadian Mint suspended production of its coins and other products for at least two weeks because of the virus. In a statement, CEO Marie Lemay cautioned that while officials had a plan to resume \u201cmodified production\u201d next month, they anticipated \u201ca longer suspension of production and shipping for our numismatic collectable coins as we prioritise the support of trade and commerce.\u201d<\/p><\/blockquote>\n

The Fed’s support of the corporate bond market had some multiplier effect<\/a>:<\/p>\n

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