In the spirit of staying connected and communicating with you, here are a few takeaways from March 17th, 2020 that we thought you should know about:
- The Federal Reserve will start buying Commercial Paper (CP) using a structure it created during the financial crisis. This is very good news. CP is issued by large firms looking for short term financing.
- The Federal government is proposing $850 billion in stimulus measures. That’s about 3.9% of GDP, which is significant.
- Congress is still deliberating on the new tax filing deadline for 2019. Tax experts expect this new date to fall somewhere between June 15 and October 15, 2020.
- Market action today was led by healthcare and names like Amazon, Verizon, and AT&T. At close, the Dow had recaptured roughly 5.2% of market value.
Raising a glass of green beer to you on a St. Patrick’s Day you’ll be sure to remember