Greetings,
United States: Let’s begin with the labor market. Over six million Americans filed for unemployment the week ending April 4th.
If the unemployment rate climbs to 15% (as recently projected by Goldman Sachs), we could be looking at 5.5 million past-due mortgages, according to Black Knight.
China: Economic activity has been rebounding.
Energy: The US oil rig count continues to decline.
Equities: Given the expected massive economic contraction, the latest stock market selloff has been relatively modest.
Credit: CCC spreads have not tightened much, even as better-rated credit rallied.
Food for Thought: Coronavirus stats for New York City:
Edited by Daniel Moskovits
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