The Monday Mix: May 25 – 31, 2020

people walking on street

Headlines discussed at LNWM’s Monday morning briefing:

Fed Chair Jerome Powell said the Fed is days away from making direct loans to small and mid-size US businesses, calling this “Main Street” program the Fed’s biggest challenge.

The US personal savings rate hit a record 33% in April, as Covid-19 has caused Americans to stockpile cash and curb spending.

Mortgage demand from US home buyers is unexpectedly strong, with  new applications up 9% last week from a year ago.

The US threatened to remove Hong Kong’s special trading status, as China edged closer to taking over Hong Kong, adding to already high US-China tensions.

Major US retailers (including Target, CVS, Nordstrom’s), already hurting from Covid-19, temporarily closed stores across the US as ongoing protests over police brutality turned violent.

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