Wednesday, April 1, 2020

Wednesday Evening Reads 星期三晚阅读


Latest World and US COVID-19 statistics, source BNO News:





。Dow closed down 4.44% for its worst day since March 20 when the Dow lost 4.55%. Year to date: Dow is down 26.61%, on pace for its worst year since 2008 when the Dow lost 33.64%.Dow is 29.17% below its intraday all-time high of 29,568.57 from Feb. 12. S&P closed down 4.41% for its worst day since March 18 when the S&P lost 5.18% Year to date: S&P is down 23.53%, on pace for its worst year since 2008 when the S&P lost 38.49%. S&P is 27.2% below its intraday all-time high of 3,393.52 from Feb. 19 .  ---CNBC

。President Donald Trump on Wednesday said he was confident Russia and Saudi Arabia would resolve an oil-price dispute that has damaged the industry. "I have confidence in both that they'll be able to work it out," Trump said at a White House press briefing. The two countries are engaged in a price war. Trump also said he'd meet with oil-industry chief executives, which the Wall Street Journal reported would happen Friday. "We don't want to lose our great oil companies," he said.---MarketWatch

。Economists are serving up a menu of alphabet soup in trying to forecast the world economy’s recovery from what is set to be the deepest recession since at least 2009 and perhaps since World War II. A V-shape in which the rebound is as swift as the slump was the favored trajectory early on, but now more are starting to worry about a U-shape. The most pessimistic are looking at global growth tracing an L or a W -- or a more mangled path that bears little resemblance to Roman letters. ---Bloomberg

。IHS Markit now believes the COVID-19 recession will be deeper than the one following the global financial crisis in 2008-09. Real world GDP should plunge 2.8% in 2020 compared with a drop of 1.7% in 2009. Many key economies will see double-digit declines (at annualized rates) in the second quarter, with the contraction continuing into the third quarter. It will likely take two to three years for most economies to return to their pre-pandemic levels of output. More troubling is the likelihood that, because of the negative effects of the uncertainty associated with the virus on capital spending, the path of potential GDP will be lower than before. This happened in the wake of the global financial crisis.---Mish Talk

。Reuters reported that a county in central China's Henan province announced on Wednesday it had "virtually banned all outbound movement of people, following several cases of coronavirus infection in the area." According to a post on its social media account, Jia county - which has a population of about 600,000 - said that no one can travel out of Jia county without proper authorization. Additionally, residents are not allowed to leave their homes for work unless they have clearance to do so.---ZeroHedge

。The Crisis Sentiment Index (CSI) produced by the Directors and Chief Risk Officers group (DCRO). The CSI has been reactivated for the Covid-19 crisis. They surveyed over 200 CROs at leading investment firms. The higher the number from 0-100 the worse the crisis. Their current number is 68 – “indicating substantial stresses”.

64% expect a 50% chance of Global Depression with GDP falling 15%

64% are planning for significant disruptions in activity for 6 months or more.

93% believe there is 50% chance of material global impact

10% believe it is likely the Pandemic will be under control within 3 months.

---Bill Blain

。A nonpartisan think tank believes that 20 million US workers will likely be laid off or furloughed by July.  In a blog post on Monday, the Economic Policy Institute estimates that this will bring unemployment rates “into the mid-teens.”---CNN

。World Health Organization officials are “deeply concerned” about the “rapid escalation and global spread” of the coronavirus outbreak, saying global infections will eclipse 1 million with 50,000 deaths in a few days.“Over the past five weeks, we have witnessed a near exponential growth in the number of new cases, reaching almost every country, territory and area,” WHO Director-General Tedros Adhanom Ghebreyesus said at a news briefing at the organization’s Geneva headquarters Wednesday. “Three months ago we knew almost nothing about this virus.”---CNBC






最新的世界和美国COVID-19统计数据,来源BNO新闻:





。道指收盘跌4.44%,为自3月20日以来最糟糕的一天,当时道指下跌4.55%。 年初至今,道指下跌了26.61%,创下自2008年以来最糟糕的一年,当年道指下跌了33.64%。道指较2月12日的盘中历史高点29,568.57低了29.17%。标准普尔指数收盘下跌4.41%。 自3月18日以来,标准普尔下跌了5.18%以来最糟糕的一天。迄今为止,标准普尔下跌了23.53%,是自2008年以来标准普尔下跌38.49%以来最糟糕的一年。 标普500较2月19日的盘中高点3933.52低27.2%。 --- CNBC

。唐纳德·特朗普总统周三表示,他有信心俄罗斯和沙特阿拉伯将解决损害该行业的石油价格争端。 特朗普在白宫新闻发布会上说:“我对他们都能做到这一点充满信心。” 两国正在进行价格战。 特朗普还表示,他将与石油行业的首席执行官会面,据《华尔街日报》报道,这将在周五举行。 他说:“我们不想失去我们的大型石油公司。” --- MarketWatch

。经济学家们正忙着尝试用一系列字母来形容自2009年以来(也许自第二次世界大战以来)最严重的衰退中复苏。先前,V型曲线的反弹速度与深跌一样迅速,但现在,更多人开始担心会有U型曲线复苏。 最悲观的是,全球经济复苏的轨迹是L或W,或者是更复杂不像罗马字母的路径。---彭博

。IHS Markit现在认为,COVID-19造成的衰退将比2008-09年全球金融危机之后的衰退更深。 2020年实际GDP将下降2.8%,2009年时为下降1.7%。许多主要经济体在第二季度将出现两位数的下降幅度(按年率计算),紧缩将持续到第三季度。 大多数经济体可能需要两到三年才能恢复病毒大流行前的产出水平。 更令人不安的是,由于与病毒相关的不确定性对资本支出的负面影响,将来的GDP趋势将比以前更低。 这是在全球金融危机之后也发生过。---Mish Talk

。路透社报道说,中国中部河南省的一个县周三宣布,“在该地区发生了几例冠状病毒感染之后,实际上禁止了所有人员的出境流动”。根据其社交媒体帐户上的帖子,人口约60万的Jia县表示,未经适当授权,任何人都不能出travel县。 此外,除非获得许可,否则居民不得离开家中上班。---ZeroHedge

。董事和首席风险官小组(DCRO)编制的危机情绪指数(CSI)。 CSI已针对Covid-19危机重新启动。 他们对领先投资公司的200多位CRO (Chief Risk Officer)进行了调查。 0-100评分,分数越高,危机越严重。 他们目前的分数为68 –“显示有很大压力”。

64%的人预计全球萧条的几率为50%,GDP下降15%

64%的人计划在6个月或更长时间内严重中断活动。

93%的人认为忧0%几率全球会有实质上的重大影响。

10%的人认为病毒大流行病有可能在3个月内得到控制。

-比尔·布莱恩

。无党派智囊团认为,到7月,可能有2000万美国工人被解雇或无薪休假。经济政策研究所在周一的一篇博客文章中估计,这将使失业率“进入两位数”。---CNN

。世界卫生组织官员对冠状病毒爆发的“迅速升级和全球蔓延”感到“深切关注”,称全球感染将在几天内超过100万人,造成50,000例死亡。 世卫组织总干事特德罗斯·阿德诺姆·格布雷耶苏斯(Tedros Adhanom Ghebreyesus)周三在该组织日内瓦总部的新闻发布会上说,“过去五周,我们目睹了新病例数几何级数增长,几乎遍及每个国家,和地区。 “三个月前,我们对这种病毒几乎一无所知。”---CNBC

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