Greetings,

The United States: Banks have borrowed $165 billion from the Fed over the past week:

– $152.85 billion via the discount window and …

– $11.9 billion via the Fed’s new emergency facility (Bank Term Funding Program). And there is more to come …

The Eurozone: The central bank’s hawkish action shifted rate trajectory expectations sharply higher.

Energy: Crude oil appears to be oversold.

Equities: This chart shows financial sector performance globally since March 8th.

Investor sentiment has been moving deeper into bear-market territory.

Rates: Inflows into Treasury funds remain elevated.

Food for Thought: Projections for Medicare spending:

Edited by Josh Oldmixon

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