Category: Trucking News

Apple Shuts Stores; Spain’s Cases Surge; U.S. Plan: Virus Update

(Bloomberg) -- Apple Inc. will close hundreds of retail stores outside of Greater China until March 27 and is moving to remote work. Countries across Europe tightened border restrictions with new cases and deaths reported across the continent. In the U.S., the House passed an economic relief plan backed by President Donald Trump to deal with the virus outbreak.German Chancellor Angela Merkel urged people to avoid unnecessary social events, even within their own families. Production at a Renault-Nissan plant in Barcelona was halted due to disruptions in the supply chain.Key Developments:Cases rose to more than 140,000 worldwide, with deaths topping 5,100China now has 80,824 confirmed coronavirus cases, with its death toll rising by 13 on Friday to 3,189Spain reported a 36% jump in new cases to 5,753Apple closes stores outside of Greater ChinaMore countries across Europe are adding border restrictionsSubscribe to a daily update on the virus from Bloomberg’s Prognosis team...

Nightmare on Wall Street Was All About Liquidity

(Bloomberg) -- Ian Burdette stared at his computer screens on Thursday afternoon in New York and could hardly believe his eyes. Everywhere that the head of term-rates trading at Academy Securities Inc. looked, there were massive anomalies and signs of unprecedented stresses in markets.Ultra Long Term U.S. Treasury Bond Futures, which moved about 1.3 points per day on average in January, were down more than seven points on the day and off 36 points from Monday’s high. Italian sovereign debt had simply imploded. An index of costs to insure corporate debt with credit-default swaps surged the most since Lehman Brothers collapsed, and the CBOE Volatility Index measuring costs to hedge against losses in U.S. stocks was the highest since November 2008.In almost every single market, the difference between bid prices from buyers and ask prices from sellers was soaring. The spreads had become, Burdette said, “astonishingly wide.”“There are so many flashing...