The Fed now owns Walmart's debt. Here's why it matters

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 25%
  • Publisher: 63%

What's happening: The Fed disclosed hundreds of millions of dollars in purchases of individual corporate bonds on Sunday, while identifying nearly 800 eligible issuers whose bonds it could buy down the line.

Philippines Headlines News

Philippines Latest News, Philippines Headlines

The action by the Federal Reserve has been lauded by investors for easing conditions in credit markets after they rapidly deteriorated in March, avoiding a potentially catastrophic corporate cash crunch that could have triggered a wave of bankruptcies.

The policy has proved"remarkably powerful" to fight this crisis, Goldman Sachs said. But it's not clear the Fed should use it as a regular tool to fight future recessions, per the investment bank. "It is unlikely that the cost-benefit tradeoff will be quite as favorable in the next recession," Goldman Sachs said.

The latest: Facebook shares plunged more than 8% on Friday, logging their worst day since March. They're down nearly 4% in premarket trading.CEO Mark Zuckerberg announced an expanded policy on hate speech Friday, which includes banning ads that scapegoat minorities, immigrants and asylum seekers. Facebook will also apply warning labels to user posts that are newsworthy but violate the platform's policies.

Chesapeake was once the nation's number two natural gas producer thanks to early bets on fracking. Aubrey McClendon, Chesapeake's late founder and CEO, was considered one of the leaders of the shale boom that transformed the United States into the world's largest oil and natural gas supplier.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in PH
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tennis: Davis Cup and Fed Cup Finals postponed to 2021
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Valenzuela City’s pandemic response: ‘Everything has to happen now’Mayor Rex Gatchalian says, 'If we can do it ourselves, do it on our own, it’s the most helpful thing we can do for the national government.' Read this in-depth piece by Jodesz Gavilan on Valenzuela City's quick coronavirus pandemic response: A subtle way to say that we cannot rely on the national government. Excuse me mayor rex. You deliver good public service to benefit your constituents. You don’t do it for the national government. Hindi si duterte and pinagsisilbihan mo, kaya nga public service di ba
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Melissa Gohing shares video of Rocco Nacino stopping car to rescue kitten on road“This is why I love this man so much,” said Melissa Gohing.
Source: gmanetwork - 🏆 12. / 63 Read more »

Rayver Cruz takes on the GMA Affordabox Dance ChallengeRayver Cruz does his very own version of GMA Affordabox Challenge!
Source: gmanetwork - 🏆 12. / 63 Read more »

Critics' ire turns on auditor EY after Wirecard collapseEY, which had been checking Wirecard's books since 2009, now faces legal challenges of its own. This is why 'external confirmation' is the primary procedure in the audit of cash, and therefore should never be neglected. A painful bummer for EY as well as for the entire audit industry. If there was a rogue employee within the ranks of Philippine bank, there's no way that EY could be held liable. They have the right to rely on the representation of a bank. This may be a case of negligence in the supervision of employees of PH bank. Maybe, I have no basis. Sometimes it makes you wonder if there is any chance of collusion. If KPMG can make a conclusion that their request of evidence was declined and therefore they couldn't verify the the existence of the fund, why wouldn't EY raise the same issue in the past years.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Tennis: Davis Cup and Fed Cup Finals postponed to 2021
Source: ABSCBNNews - 🏆 5. / 83 Read more »