May 5, 2018

NYT: Trump knew about the Stormy payment

Photo: Michael Reynolds-Pool/Getty Images

President Trump knew about Michael Cohen's payment to Stormy Daniels "several months before he denied any knowledge of it to reporters aboard Air Force One in April," the NYTimes reports, citing two sources "familiar with the arrangement."

Why it matters: "Giuliani told The Times on Friday that the issue was 'primarily' about keeping Mr. Trump’s wife, Melania, from being embarrassed by the claim, which Mr. Trump has maintained was false."

The intrigue: "[T]hree people close to the matter said that Mr. Trump knew that Mr. Cohen had succeeded in keeping the allegations from becoming public at the time the president denied it."

  • "But if investigators determine that the hush payment was in effect a campaign expenditure, then how the funds were distributed could take on added legal significance."

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Special report: Health care workers vs. coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: Angela Weiss/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

  • And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.

Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.

What top CEOs fear telling America about the coronavirus shutdown

Illustration: Eniola Odetunde/Axios

Top CEOs, in private conversations and pleas to President Trump, are warning of economic catastrophe if America doesn't begin planning for a phased return to work as soon as May, corporate leaders tell Axios.

Why it matters: The CEOs say massive numbers of companies, big and small, could go under if business and government don't start urgent talks about ways groups of workers can return.