Thursday Links

1. How Bill Ackman Turned $27 Million Into $2.6 Billion During the Coronavirus Crisis
   Shorting historically tight credit spreads, as it turns out. That's how you 100x $27 million.
   

2. The Pandemic in My Neighborhood - Michael Lewis, Bloomberg

3. FRED Restaurant Data

4. The Changing World Order - Ray Dalio

5. The Fed Goes All In With Unlimited Bond-Buying Plan - Jeanna Smialek, NYT

   Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate,

   Indeed.

6. The Fed Asks for BlackRock’s Help in an Echo of 2008 - Matthew Goldstein, NYT

7. How the Pandemic Will End - Ed Yong, The Atlantic

8. The Cheesecake Factory Tells Landlords Across the Country It Won’t Be Able to Pay Rent on April 1 - Matthew Kang, Eater
   Cheesecake Factory is the largest dine-in restaurant group in the country, and they're not paying their rent this month. How do you think mom and pops are going to manage? It's gonna be a rough month for commercial landlords and CMBS.

9. Nobody Wants a Margin Call Right Now - Matt Levine, Bloomberg