China: The government-backed China Securities Journal emphasized on Monday the need for a “healthy” bull market to support the recovery. Beijing’s proxies have been hitting social media in droves, echoing the phrase “bull market.” The stock market is up 10% over the past week.
According to Markit, the nation’s service-sector activity is expanding at the fastest pace in a decade.
United States: Let’s begin with the June employment report, which topped economists’ forecasts by a substantial margin.
This chart shows where we are relative to previous recessions.
Commodities: Gold demand from ETFs topped consumer (jewelry) demand from China and India.
Energy: Longview Economics expects oil supply deficits to continue throughout 2020 and into 2021.
Credit: Here is some data on corporate defaults.
Food For Thought: Coronavirus hot spots over time:
Edited by Daniel Moskovits
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