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    Daily Digest 1/19 – ECB Is Capping Bond Yields But Don’t Call It Yield Curve Control, How Parler is trying to get back online

    by Daily Digest

    Tuesday, January 19, 2021, 5:34 PM

Economy

PPP reopens Tuesday for second round of small-business loans

The Paycheck Protection Program, a vital lifeline that helped keep pandemic-ravaged small businesses afloat, fully reopened to all participating lenders on Tuesday after initially limiting who was eligible.

In an attempt to rectify past criticisms that the program favored larger borrowers, the rescue fund – which provides forgivable loans to businesses if they maintain their payroll – had initially only been available to first-time borrowers, according to new guidance from the Small Business Administration and the Treasury Department.

Two Million People Have Died Worldwide Due To COVID-19

The global death toll from COVID-19 topped 2 million Friday as vaccines developed at breakneck speed are being rolled out around the world in an all-out campaign to vanquish the threat.

The milestone was reached just over a year after the coronavirus was first detected in the Chinese city of Wuhan.

ECB Is Capping Bond Yields But Don’t Call It Yield Curve Control

The European Central Bank is emulating its Asia-Pacific peers by controlling government borrowing costs, just in a uniquely European way.

The ECB is buying bonds to limit the differences between yields for the strongest and weakest economies in the euro zone, according to officials familiar with the matter, with one person saying the central bank has specific ideas on what spreads are appropriate. An ECB spokesman declined to comment.

Ice Cream In Northeastern China Tests Positive For COVID-19

If infecting more than 93 million people across the globe wasn’t enough, COVID-19 has now been found in ice cream.

Three ice cream samples — chocolate, strawberry and taro — tested positive for traces of the coronavirus after they were submitted for a food inspection in northeastern China’s Tianjin municipality, according to a report from local Chinese media on Friday.

Biden aims for best stock-market rally in 92 years ahead of inauguration

Former Vice President Joe Biden will be sworn in as the 46th U.S. president on Wednesday, and his to-do-lists will run extraordinarily long as he attempts to drag the country out of the worst pandemic in a century, and mend fractures in American politics.

But by at least one measure, Biden supporters might point to the incoming president’s bullish impact on the stock market since the Nov. 3 election as one early accomplishment, even if it’s hard to pin all of the recent gains on the change in regime from Donald Trump to Biden.

U.S. climbs above 400,000 COVID-19 fatalities as California becomes first state with 3 million confirmed cases

The number of global cases of the coronavirus-borne illness COVID-19 rose above 95.9 million on Tuesday, and the U.S. surpassed 400,000 deaths, with California becoming the first state with more than three million confirmed cases.

Things are so dire in the Golden State that air quality regulators in hard-hit Los Angeles County have lifted limits on how many cremations can be performed to help clear a backlog of bodies.

How Parler is trying to get back online

Parler tried to seek a hosting alternative to Amazon Web Services from at least six different potential providers once it became clear Amazon would no longer work with the social media platform — but was turned away, according to a court filing.

CEO John Matze said in Monday’s filing that Parler does not have the resources to host itself on its own servers. Amazon (AMZN)’s ban forced it to seek alternative providers, he said in the filing — which is part of an ongoing lawsuit between the two companies.

U.S. regulator finalizes rule banning banks from refusing loans to some business sectors

A leading U.S. bank regulator finalized a rule Thursday that prohibits large banks from refusing to lend to certain business sectors, after Republicans voiced frustration at what they saw as a reluctance by banks to finance gunmakers and energy firms.

The rule, proposed in November by the U.S. Comptroller of the Currency, has been fiercely contested by banks, which call it unworkable and politically motivated. It applies to banks with more than $100 billion in assets and stipulates that they must show legitimate business reasons for not providing services to certain borrowers.

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6 Comments

  • Wed, Jan 20, 2021 - 9:45am

    #1

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2393

    7

    On the new Administration’s first day in office they discover a cure for most Wuhan virus

    https://nypost.com/2021/01/04/hair-lice-drug-may-cut-risk-of-covid-19-death-by-80-percent/

    It’s a miracle! The Harris Administration discovered this cure for Wuhan virus on day one! I have such high hopes. Now on to white supremacy, inequity and climate change. By next week, we can lighten up on all that resiliency stuff.

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  • Wed, Jan 20, 2021 - 10:07am

    gyurash

    gyurash

    Status: Member

    Joined: Sep 07 2016

    Posts: 50

    4

    Only took 9 months

    Please note the linked article was dated Jane 4. Of possible larger significance is the study referenced in the article was conducted almost 9 months ago.

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  • Wed, Jan 20, 2021 - 12:20pm

    #3

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2393

    6

    Also on first day in office, Wall Street is beginning to declare victory over Wuhan virus

    The “Biden Donor Group” is beginning to predict victory over the Wuhan virus on the first day of the Harris Administration!
    https://www.zerohedge.com/markets/wall-street-declares-beginning-end-covid-crisis

    Also on the first day, left-leaning Politico begins laying the foundation for the removal of Old White Joe:

    https://www.politico.com/news/2021/01/19/joe-biden-inaugural-speech-lincoln-460506

    “I would never say this,” Biden once snapped at an aide, aghast over the prepared remarks he was reviewing, according to a person in the room during a speech prep session last year. “Where did you get this from?’”

    The aide explained that Biden had just said it in a public speech a couple of weeks earlier.

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  • Wed, Jan 20, 2021 - 10:55pm

    #4
    Bill in La Mesa

    Bill in La Mesa

    Status: Bronze Member

    Joined: Dec 16 2020

    Posts: 67

    3

    Bill in La Mesa said:

    Hot off the Financial Times press (Jan 20): Cheap, 'generic' drug reduces COVID-19 death risk by 75 percent, trials suggest

    https://www.yahoo.com/news/cheap-generic-drug-reduces-covid-150300202.html

    Praise the Lord!  We're Saved!  Thanks Joe!

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  • Thu, Jan 21, 2021 - 6:59am

    anastasio

    anastasio

    Status: Member

    Joined: Aug 26 2008

    Posts: 19

    2

    Give it a rest

    It's a study out of the UK, Biden isn't even mentioned in the article.

    Liverpool University virologist Andrew Hill has called the new study “transformational” in the search for a coronavirus therapy. His findings, based on data from over 1,400 patients, were made public in a video posted to YouTube in which Hill discusses his results in a previously aired livestream. The research currently awaits peer review prior to publishing.

    Pace youself thc0655. Youv'e got 4 yrs to gush your hate and disdain for Biden. Don't want to burn yourself out in the first week.

     

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  • Thu, Jan 21, 2021 - 8:16am

    #6
    nordicjack

    nordicjack

    Status: Gold Member

    Joined: Feb 03 2020

    Posts: 1013

    0

    THC - bending the curve

    What kind of joke is this - they state that its bending the curve due to modest increases in restrictions ( oh this didnt seem to work before )    and increase in herd immunity ( probably due the vaccinations ( 1% ) roll out.       I am uncertain how they can say this , it is impossible - after they predict a dark winter coming due to holiday season and winter season.,  AND no one really being vaxxed yet other than some folks in florida - and healthcare workers of which half do not want it.   So,  the only way this is possible  as they say, its because healthcare workers are the primary cause of spread.   Which actually may be possible.

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