United States: Credit card spending is now down 25% from the same time last year.
The US savings rate increased by the highest percentage in 39 years (see story)
China: China’s restaurant recovery has lost momentum.
Also, Macau gaming revenues are down 97% on a year-over-year basis.
Equities: Companies are suspending dividends, …
… while share repurchase activity has slowed.
Credit: Regional banks have accelerated loan loss provisions.
Rates: The market expects short-term rates to remain near zero for at least three years.
Food for Thought: Business failures during the Spanish Flu:
Edited by Devon Lall
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