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Originally Posted by bdub
Just breezing through the news this AM to get a feel for the market narrative for the coming week. Here's a few good ones.
"Market panic over the fast-spreading new coronavirus is uncalled for, the World Health Organization’s director-general said Sunday..."
Now the WHO is worried about the markets? I thought their expertise was world health issues.
"China: Manufacturing PMI will shock the market on Monday
China's manufacturing PMI has plunged to a level worse than that reached during the global financial crisis..."
Obvious.
"A $30 Oil Price Is the Real Virus Threat to OPEC
The oil cartel and its international partners will undoubtedly agree to productions cuts this week. But will they be big enough?"
Probably not.
"The Kuwaiti stock market dropped by 10.98 percent in the first 30 minutes of trading on Sunday morning as investors responded to the spread of the coronavirus across the Arabian Gulf..."
Ouch, what the headline doesn't say is they had to call a trading halt, think the Toronto market last week.
"The worry is that the market rout will turn into a credit crunch. If that looks likely, policymakers need to show they are ready to take decisive action..."
Yup, a crapload of debt out there. Hard to pay the bills when nobodies working.
And for all the Catholics out there you can take comfort in this one...
"Coughing pope cancels trip, but it’s just a cold, not coronavirus"
Must come a relief to all the people he shook hands with and the parents of baby's he's kissed over the last 2-3 weeks.
I'm thinking it's going to be another crazy week.
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I expect another crazy week or two, a continued decline , but with some people easing back into the markets, causing some bounces. I am expecting to be sitting on the sidelines for a while yet.