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United States: Online search activity related to filing for unemployment has soared in recent days.
Asia-Pacific: Japan’s recession is deepening.
Energy: US crude oil dipped below $27/bbl while Brent is below $29. We are now near the 2016 lows.
Separately, Germany has been slowing its investment in wind turbines.
Equities: Correlations are near extremes.
The largest index ETF is registering substantial inflows. The demand could be coming from short-sellers who want to borrow the security (to short it).
Credit: The primary loan market has been essentially shuttered amid market volatility. Bids on institutional loans tanked.
Last week, Moody’s upgraded a relatively large amount of residential mortgage-backed securities (RMBS). The MBS market now has a reliable buyer – the Fed (see story).
Food for Thought: Is the spread of coronavirus in the US underestimated?
Edited by Devon Lall
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