I don’t trust today, one minute it goes really up then slowly down. Monday is going to go way down. I was right, I ended the day starting with the same amount as this morning!
Futures are already down by nearly 2%
On a lighter note, which I suspect everyone needs to some extent - I certainly do
Check out from 15:45, Joseph Carlson discussing Howard Marks’s take on where the bottom of this market is.
(Spoiler he doesn’t know, but excellent foresight on when to start buying in)
F1 teams have engineering capabilities that could speed up the production of the units, which are in short supply.
The aerospace and automotive sectors are also engaged in the discussions.
"Working with Innovate UK, the High Value Manufacturing Catapult team and University College London and UCL hospitals, the teams are evaluating a number of routes to support in conjunction with existing manufacturers and organisations from the aerospace and automotive sectors.
A number of teams have applied-technologies divisions that could directly feed into the national production capacity of ventilators in the UK, particularly McLaren, Red Bull, Williams and Mercedes.
But all teams have advanced manufacturing capability that could potentially be used to make complex devices such as this, and as many will help as can.
The idea is to increase the supply of the existing design of ventilators rather than try to come up with a new approach.
The UK is estimated to need an extra 20,000 ventilators to deal with the crisis as it develops over the coming months.
History doesn’t repeat but it rhymes
When did we see this before?
- Deficits go up due to major crisis that must be tackled
- Debt to GDP rises
- Debt ratings fall and interest rates on bills and bonds rise. Not a problem unless if they rise to unsustainable levels which varies from country to country
- Austerity, you’re back
Goldman Sachs predicts a -24% drop in GDP in Q2 for the USA.
Freetrade community predicts Goldman Sachs will never get good at predicting. #nocrystalball
Illinois, DC are joining CA and NY:
Shortages have also been an issue in Spain and France, which have the highest death tolls in Europe outside Italy.
At Mount Sinai Health System’s Morningside hospital in New York City, the number of coronavirus patients at the 500-bed facility doubled in two days this week.
Los Angeles County health officials advised doctors to give up on testing patients in the hope of containing the coronavirus outbreak, instructing them to test patients only if a positive result could change how they would be treated.
The guidance, sent by the Los Angeles County Department of Public Health to doctors on Thursday, was prompted by a crush of patients and shortage of tests, and could make it difficult to ever know precisely how many people in L.A. County contracted the virus.
-> Walgreens-Boots Alliance, CVS, Walmart, Target
A week after leaders of Walmart, Target, CVS Health and Walgreens pledged to set up coronavirus testing in their parking lots, the public is still waiting for their widespread availability.
Only one of the companies — CVS — has opened a testing site so far. The company opened its first drive-through test site Thursday afternoon in Massachusetts, but it is limited to police, firefighters, nurses and other first responders who are referred by government or public health officials.
In the next few days, Walmart said it will open two sites and Walgreens said it will open one site in the Chicago area. Target has not yet announced any detailed plans.
General Motors to assist with ventilator production.
They have already partially shut their factories in NorthAm:
I look after a mortgage collections function for a high street bank and it was definitely the right decision to cancel the annual stress testing.
The tests are normally face to face and over a period of days, that was changed a couple of weeks ago to a 1 day dial in given the current situation and then cancelled all together given how the last week has gone.
We are in a stressed environment now and executing all of our business continuity measures, resource is better placed else where and not sat in front of the regulator playing through a hypothetical situation which is actually different to the one we face now as a society and a bank.
All my guys have been doing this week is processing payment holidays and looking to support customers who can’t pay their mortgages. We are impacted ourselves tho, losing colleagues due to school closures and self isolation.
Too late now.
US path so far is worse than Italy, UK is actually somewhat better than quite a few countries. Surprised me somewhat.
Another dividend cut. Got to say these seem like the right moves.
Well, for the whole truth you will have to take into consideration that the UK just stopped testing. So these numbers are way too small. All the other big european nations test many more people and have thus higher cases. Same goes for the US. Trump and Johnson both follow the path: What we don’t know cannot make me lose reelection.
Trump is hilarious isn’t he?!