Coronavirus Without End
The U.S. reported around 25,000 new cases nationwide on Saturday alone, but most of those cases did not require hospitalization.
President Trump’s stance on no more lockdowns could spell trouble for markets as some call for re-closing in some states. Germany’s government said it would reimpose lockdowns if the infection rate rises and Finland said no more lockdowns for them.
Dr. Anthony Fauci said in an article in The Telegraph today that people should be wearing masks and not congregate in large numbers. The exclusive interview is for subscribers only.
The gradual emergence from the crisis in the U.S. and China has given the market a reason to be bullish. Investors have taken a breather. We may be back to pre-pandemic volatility where the Dow rocketed up 700 points on one day, and collapsed 1,100 points the next.
“There are reasons to be optimistic about the recovery: correlations are normalizing, economic data have been surprising positively and earnings revisions are improving — all factors we reckoned were necessary before markets could sustainably recover,” says Oliver Brennan, a macro strategist for TS Lombard.
Fiscal support remains powerful in the U.S. and Europe. Interest rates are low in China, India, Brazil and Russia.
U.S. Treasury is extending support directly to Main Street in a first of its kind stimulus with record high unemployment insurance, grants and the payroll protection program.
According to Cognovi Labs, a behavioral science-based tech company using artificial intelligence to track how people react to the coronavirus, their Pandemic Panic Index has gone from 41 on Sunday to 46 on Monday on a scale of zero to 100.
Fears of a spike in the coronavirus death toll stands at 19 on a scale of 100, up from 13 on Sunday.