Port of Los Angeles is projecting a 25% drop in container volumes this month, as the economic impact of the coronavirus spreads across shipping operations and foreign supply chain. Imagine if 1 in 4 goods imported from Asia suddenly stopped coming. Impact just starting.
— Eric Lipton (@EricLiptonNYT) March 1, 2020
Probably the single most important headline this week:
– After just one week from the outbreak, Northern Italy is already considering expanding its hospital beds capacity because 1 in 11 patients goes in ICU
— Luca Dellanna (@DellAnnaLuca) March 1, 2020
Important factors if we bet on a speedy recovery of stocks:
– Central banks were already injecting billions and cutting rates.
– Macro data was already weak before the epidemic.
– Earnings' season was very poor.In other fast recoveries, growth and earnings were more robust. pic.twitter.com/la3Fn6JtKH
— Daniel Lacalle (@dlacalle_IA) March 1, 2020
49:32 – "58% of CFOs in America came in to 2020 saying 'We're in a cost-cutting mode'"
Concurrently, CEO departures skyrocketing. A "changing of the guard" is occurring while the "wheels are spinning" going nowhere.
h/t @DiMartinoBooth @jessefelderhttps://t.co/LkGindRYmH pic.twitter.com/cqUfdEcJz8
— Virgil (@virgil1618) February 29, 2020
Investors cast a wary eye on Monday's market open as bad news continues to pile up https://t.co/v0Ui5Cyihb
— Bloomberg Asia (@BloombergAsia) February 29, 2020
SAMSUNG CONFIRMS COVID-19 CASE AT GUMI S. KOREA SMARTPHONE PLANT – BLOOMBERG
— FXHedge (@Fxhedgers) March 1, 2020
The WHO now worried about stocks
What a joke pic.twitter.com/v95Ce0fOho
— Quoth the Raven (@QTRResearch) March 1, 2020
Never before now have 4 major public comp CEOs announced their departure on the same day. Yet that's what happened on Tue, at height of mkt panic over coronavirus. CEO departures were record 219 in Jan. 36.5% of departing CEOs stepped down into a board pos https://t.co/BGZJsYAMkc pic.twitter.com/nCcDF3pKrx
— Holger Zschaepitz (@Schuldensuehner) March 1, 2020
MT GLOBAL MARKETS Momentum & Sentiment Recap as of 28Feb20 wk9 thread 1/n
2020 The Year of Corona-Bat
• historic global RiskOFF
• huge vol spike
• rush to safe haven
• Creditspreads sharply wider
• corp bond new issuance frozen
• carry-unwound…no surprise: China PMI pic.twitter.com/s6nGTkYiN0
— 𝘬𝘢𝘪 (@MacroTechnicals) March 1, 2020
Economic impacts >>#Lufthansa Plans to Slash a Quarter of Flights on Virus’s Hit to Travel
German flag carrier to cut short-haul flights, ground planeshttps://t.co/Nt6mEVedLq #jetfueldemand pic.twitter.com/Tg7HTiefmW
— 𝕮𝖍𝖎 🛢️ (@chigrl) March 1, 2020