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Moody’s cuts its outlook for Australia’s banking system to negative from stable

Key findings

"While Australian banks' current asset quality is very strong, it will deteriorate significantly if disruptions persist for a prolonged period and push up the unemployment rate, which will lead to more impairments of residential mortgages, which comprise approximately two thirds of banking system loans.”

"We view the current economic support packages, including fiscal stimulus, enhanced financial market liquidity and term funding to support credit intermediation, as measures that are temporarily increasing the level of indirect government support for the banking.”

US Treasury to tap Wall Street advisory firms on airline aid – WSJ

The US Treasury Department plans to hire PJT Partners Inc Moelis & Co and Perella Weinberg Partners to advise on the airline portion of Washington’s $
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Central banks dumped over $100 billion of US treasuries in three weeks to March 25

Central banks around the world offloaded US treasuries through March, as the sudden coronavirus-led sell-off in the global markets and recession fears
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