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Administrative Update
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United States: Non-manufacturing activity (ISM) strengthened in February, topping forecasts. Once again, all bets are off for March.
The index of new orders jumped.
United Kingdom: Gilt yields have been tumbling.
China: The stock market has recovered all of the post-holiday losses.
Metro passenger volumes have increased slightly.
Equities: The declines in Q1 and Q2 earnings growth expectations have accelerated.
Credit: Investment-grade bonds have substantially outperformed high-yield recently.
Food for Thought: The coronavirus vs. the flu:
Edited by Daniel Moskovits
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