The S&P just wrapped up its best week since 1974 (markets are closed today for Good Friday)
FIRST LOOK: PPP ESTIMATES
“The panel is optimistic about a return to economic growth in the latter half of 2020, anticipating an annualized real GDP growth rate of 2.0% in the third quarter … Panelists expect a short, sharp recession.”— Our Zachary Warmbrodt: “Banks are warning that a beleaguered $350 billion small business rescue program could become even more backed up Friday when the nation's self-employed business owners will be eligible to apply for the government-backed loans.
“The Federal Reserve and other regulators in recent weeks have allowed banks to hold less loss-absorbing capital on their books, delayed rules that would require them to start preparing earlier for potential losses on new loans and made it easier for smaller banks to operate under a higher debt load, among other moves.”— Our Ben Schreckinger: “On Monday, Fox News’ Sean Hannity took to the airwaves to call on ….
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Wall Street rises on Fed's $2.3 trillion backstopWall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses, while oil prices gained on expectations of a drastic cut in output.
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