March 18, Coronavirus economic update

March 18 Updates

NEW — state unemployment claims numbers. Updating as this come in. If you have more sources please send along.

WSJ: Stocks down 5%, not surprising. What is a little surprising is yields on government bonds are rising — 10 year treasury now above 1%. Still insanely low, but shows that there are intense liquidity needs.

Oil is down to $27 a barrel. Prices at the pump have still only dropped about 25 cents, but nobody is driving anyway.

FT: The rise in bond yields is people liquidating that need cash.

WSJ: Tracking store closings.

Jacob Robbins

Author: Jacob Robbins

Jacob Robbins is an assistant professor of economics at the University of Illinois at Chicago.

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