Whether its justified or not, Cornavirus is creating a strain on markets that should be a wake up call for everyone
https://finance.yahoo.com/news/credit-risk-concerns-build-key-124036016.html
Fiscal and monetary policy gone wrong has the US very exposed
"(Bloomberg) -- A key gauge of banking-sector risk is indicating stress in dollar funding markets as equities around the world tank on growing virus concerns and traders bet on further central bank easing.
The FRA/OIS spread, a U.S. money-market benchmark that measures the difference in rates between forward-rate agreements and overnight index swaps, soared to the highest level since the funding upheaval seen back in September. That may be an indication of growing interbank risk or dollar hoarding behavior. At one point on Friday it widened to as much as 51 basis points, double its level from last week. It pared its move to around 43 after 3-month dollar Libor dropped more than 10 basis points, but is still up dramatically on the week.
WHAT TOOLS DOES THE FED HAVE WHEN ITS ALREADY GONE TO ALMOST ZERO RATES