Tracking by @jpmorgan of 30 million credit/debit cardholders shows spending has stalled since late June; with activity widespread across states, data suggest it may be difficult for risky assets to rise much further pic.twitter.com/8KO5yk2LPr
— Liz Ann Sonders (@LizAnnSonders) July 10, 2020
Coronavirus will cost banks over $2 trillion in loan losses: S&P Global t.co/0MshA5cNbO
— Reuters China (@ReutersChina) July 9, 2020
Back in March, during the height of the Coronacrisis, the Treasury extended the April 15 tax date to July 15. That means corporations and individuals will be making
large tax payments to the Treasury on July 15. We could see some funding pressure beginning next Wednesday
— Scott Skyrm (@ScottSkyrm) July 10, 2020
The country is in the middle of two simultaneous downturns — a short-term seizure caused by fear of coronavirus and a longer-term slump that will look more like a traditional recession. Unfortunately, the latter is just beginning.
With theaters, museums and stadiums closed, the city looks nothing like its usual self at the height of the summer tourist season.