United States: Bloomberg’s consumer comfort indicator points to further deterioration in sentiment. But the levels remain well above the 2008 lows.
Part of the reason is that household balance sheets were much healthier going into this downturn than what we saw before the financial crisis.
Eurozone: Euro-area firms depend much more on banks for credit than their US counterparts (there is more reliance on bonds and syndicated loans in the US).
China: China recorded its first negative GDP quarter since reporting began in 1992.
Below is the year-over-year GDP growth.
Energy: US crude oil broke the $20 support, trading below $19 for the first time since early 2002.
Credit: The US speculative-grade default rate could end the year at 13.4% and edge higher to 14.4% by the end of March 2021, according to Moody’s.
Food for Thought: Online meeting platforms:
Edited by Daniel Moskovits
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