JPM says that its card users are starting to show similar behaviors as they were in March. Spending more at grocery/discount stores. Spending less on restaurants/entertainment. But it notes the magnitude of the swings are smaller than what we saw back then. pic.twitter.com/7QNd1XPtIq
— Joe Weisenthal (@TheStalwart) November 19, 2020
“Retailers giving up rights to landlords in exchange for big rent reductions…at the same time, retailers who saw strong online sales in recent months may decide they don’t need all the stores/markets they once wanted”https://t.co/MPx7lfpDIj
ht @GoldTelegraph_ pic.twitter.com/jAQhgnLozN
— Danielle DiMartino Booth (@DiMartinoBooth) November 19, 2020
Worrisome on several accounts, including the potential for the following vicious cycle:
Testing falls behind
More spreaders go undetected#Covid infections and hospitalization rise and
Test and trace systems are then completely overwhelmed, losing much of their effectiveness. pic.twitter.com/hxuA6QKPUr
— Mohamed A. El-Erian (@elerianm) November 19, 2020