Black 2020.
Black 2020.
Archives of “March 2020” month
rssThis month the S&P 500 is more volatile than Bitcoin.
China reports 1,541 asymptomatic coronavirus cases as of 30 March
Well, well, well..
It looks like China still has quite a number of virus cases to deal with, besides their current focus on imported cases as well.
Just take note that previously, China did not include these cases in their official count because the patients were not showing symptoms. However, they have tested positive for COVID-19.
Again, I’d argue that take the number with a pinch of salt and follow the trend instead. Also, continue to keep an eye on government measures for a better clue of the situation.
Tokyo said to report 78 new coronavirus cases today
NHK reports with the figure
As mentioned yesterday, it is hard to get a read on the situation in Tokyo because testing procedures are unclear right now. Yesterday, Tokyo reported just 13 new coronavirus cases and on Sunday it reported 68 new cases.
The 78 cases reported today will exceed the Sunday figure and will mark the biggest daily increase in confirmed cases in Tokyo, bringing the total tally to 521 cases.
It certainly looks like it is going to be a matter of time before the numbers here blow up over the next few days/weeks.
Nikkei 225 closes lower by 0.88% at 18,917.01
The Nikkei posts its biggest quarterly loss since Q4 2008
A mixed day for Asian equities sees the Nikkei end lower as the index posts a quarterly loss of 20% in Q1, the largest decline since Q4 2008.
Elsewhere, he Hang Seng is up by 0.7% but is on course for a 17% drop in the first quarter while Chinese indices are flat, with the CSI 300 index set to close 10% down in Q1 2020.
As for today, US futures are still looking more tepid and indecisive despite some solid gains overnight. E-minis are now down by 0.2%, little changed on the day.
In the currencies space, the dollar is keeping slightly firmer but so is the likes of the aussie and kiwi to start the European morning session. USD/JPY is up to 108.20 currently but off highs of around 108.70 earlier in Asia Pacific trading.
The virus epidemic is far from over in the Asia Pacific region, WHO official warns
The official says that government measures are merely buying time for countries to prepare for large-scale community transmissions
Adding that the risk of transmission will not go away so long as the coronavirus pandemic continues across the globe, says the official.
It brings into question the long-term planning by many countries and their lockdown and containment efforts. Are they trying to bring the virus spread to near zero? If so, what other health measures are being put in place to ensure that once they lift restrictions?
Or is this all merely to manage hospitalisations and deaths? It feels like this is what every country is doing and hoping that this helps to resolve the former issue as well.
The opening up of international borders everywhere is going to be a really tricky situation for all countries all over the world. All it takes is losing track of one case and the panic returns.
This chart should be watched closely!
The Federal Reserve Money Printing Programs: QE1 = $1.7 Trillion QE2 = $600 Billion
QE3 = $1.6 Trillion #Covid_19 QE (so far) = $3.3 Trillion!
The Fed printed roughly $970,000 EVERY SECOND last week to keep the market alive.
China official PMIs for March: Manufacturing 52.0 (expected 44.8) Services 52.3 (42.0)
These are the official survey PMIs, Caixin/Markit PMIs will follow later this week.
Manufacturing surged to 52.0 and leaps back into expansion
- expected 44.8, prior 35.7
Non-manufacturing, 52.3 and pretty much ditto
- expected 42.0, prior 29.6%
Composite 53.0
- prior 28.9
National Bureau of Statistics says the PMIs alone do not mean the economy is back to normal.
Some of the sub measures:
March and February figures
- Output 54.1 27.8
- New orders 52.0 29.3
- Inventories of raw materials 49.0 33.9
- Employment 50.9 31.8
- New export orders 46.4 28.7
- Input prices 45.5 51.4
- Output prices 43.8 44.3
And people wonder how banks make money…
Morgan Stanley on US COVID-19 spread – accelerating mortality increasing exponentially
MS on coronavirus, saying the April 30 goal for winding back restrictions is likely to be extended.
- spread of COVID-19 in the U.S. is on a potentially worse trajectory than Italy
- forecast for the U.S. calls for a peak of approximately 570,000 cases in about 20 days
- “We would highlight that the biggest risk to this forecast is that while we have reasonable confidence the East and West coasts will reach peak cases in the next 2-3 weeks, the interior of the country is now exhibiting signs of new outbreaks.”
MarketWatch hove a piece up on the MS analysis, link is here for more.
