FAST FIVE: Blain: "The Shortest Bear Market In History Ain't Over"
Testing in Germany has been more rigorous in the run up than in any other European country – but the German papers are still full of how difficult it is to get tested, suggesting even Germany has also under-tested.
If we have a high number of infected people, say 30% plus, then it's possible we could see government allow many workers to return to work, but with many social distancing measures remaining in place.
Every single country is publishing massive economic activity downgrades.
Soaring defaults, downgrade escalation, chronic illiquidity.
Topics might include some of the following danger areas: 1) Headline Coronavirus Shock Threats 2) Cash crisis across Globe 3) What a bond market meltdown means for all financial assets 4) Unintended Consequences of Rescue Policies 5) Policy Deliverables – the risk of failure to deliver economic rescue likely to destabilise sentiment 6) Fundamentals – demand and supply shocks to continue longer rather than abate.