May 12, 2020 Weekly Report

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Highlight of the Week

The Fed ramps up program to buy corporate bond ETFs

  • The buying will target “fallen angels” that have been downgraded due to the coronavirus.
  • Asset management giant BlackRock will be running the program.

Rate Curves

222

Rapid Report:

Abelian Brand Mark

Coronavirus updates (as of Tuesday morning)

  • COVID-19 has registered 4.2 million cases and 287,000 deaths worldwide. There are over 1.5 million recovered cases.
  • The US has accounted for over 1.3 million cases and will surpass 82,000 deaths today. The US has registered over 262,000 recovered cases.
  • Georgia has almost 34,000 cases and 1,444 deaths. Georgia has conducted 252,288 tests to date. Fulton county leads the way with 3,516 cases (320 cases per 100k).

Technology giants help States address challenges due to unemployment claims

  • More than 30 million Americans have filed for unemployment benefits since efforts to contain the virus led to the widespread business shutdown in March. State labor departments nationwide have struggled with busy phone lines, website crashes, and delays in unemployment payments.
  • Amazon and Google are top brands to help states operating on decades-old technology update their equipment to streamline processes.

Georgia moves forward with I-85 widening northeast of Atlanta

Marietta-based contractor C.W. Matthews will charge $94.6 million for the project.

Category: Market Updates
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