As stocks plummet, there have been calls to close the markets. But the counter-argument is that it would starve companies of capital and make it impossible for investors to liquidate their assets during the coronavirus outbreak. Dan digs in with Tal Cohen, the Nasdaq's head of North American markets.

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Foreigners bought a record amount of Chinese local bonds in May

Illustration: Eniola Odetunde/Axios

The amount of foreign money flowing into onshore Chinese bonds more than doubled in May from its previous monthly total and the proportion of the bonds held by foreign investors rose to the highest level on record, Chinese government data showed.

What's happening: Ultra-low bond yields in the U.S., eurozone and other developed markets seem to be driving money to China, even as its yuan currency depreciates below 7-to-1 against the dollar.

How the Robinhood effect is moving the stock market

Reproduced from BCA Research using Bloomberg data; Table: Axios Visuals

A report from BCA Research published Monday finds Robinhood users are moving into speculative bets at an incredible rate, radically increasing holdings in three groups of stocks — airlines, cruise ships and mortgage REITs.

What's happening: "Retail investors have provided institutions with an opportunity to exit stocks in the three stressed groups," Doug Peta, BCA's chief U.S. investment strategist, writes in the note.

Shale's uncertain future amid coronavirus pandemic

Illustration: Sarah Grillo/Axios

The shale sector is entering a "great compression" that could bring a "deep consolidation" as companies collectively face hundreds of billions of dollars worth of write-downs on their assets, a new Deloitte analysis finds.

Why it matters: The report shows how depressed oil prices stemming from the COVID-19 pandemic are slated to take a big toll on the sector, which was already struggling with debt and weak cash flow even before the crisis.