CNBC market summary —> https://archive.vn/urIKC
Morgan Stanley’s Chief Economist attempted to quell fears in a recent report reposted by ZeroHedge today.
“We remain confident that the global economy will regain its pre-COVID-19 levels in four quarters and DM economies in eight quarters.”
He then went on to suggest that unemployment wasn’t nearly as important of an indicator for future consumption trends as many might natural expect by referencing how consumption had almost completely recovered in Q3 2010 while unemployment continued to remain high..
“We argue that the link between the labour market and consumption is looser than commonly thought.”
Judging by the comments, it’s pretty safe to say that nobody was buying it. Read more
Update: Never mind, the market somehow “shook off fears”, opening up 200 points…??
30 Facts About COVID From Swiss Policy Research
-Overview According to the latest immunological and serological studies, the overall lethality of Covid-19 (IFR) is about 0.1% and thus in the range of a strong seasonal influenza (flu).
-In countries like the US, the UK, and also Sweden (without a lockdown), overall mortality since the beginning of the year is in the range of a strong influenza season; in countries like Germany, Austria and Switzerland, overall mortality is in the range of a mild influenza season.
-Even in global “hotspots”, the risk of death for the general population of school and working age is typically in the range of a daily car ride to work. The risk was initially overestimated because many people with only mild or no symptoms were not taken into account.
-Up to 80% of all test-positive persons remain symptom-free. Even among 70-79 year olds, about 60% remain symptom-free. Over 95% of all persons develop at most moderate symptoms.
-Up to 60% of all persons may already have a certain cellular background immunity to Covid-19 due to contact with previous coronaviruses (i.e. common cold viruses). The initial assumption that there was no immunity against Covid-19 was not correct.
-The median age of the deceased in most countries (including Italy) is over 80 years (e.g. 86 years in Sweden) and only about 4% of the deceased had no serious preconditions. The age and risk profile of deaths thus essentially corresponds to normal mortality.
-In many countries, up to two thirds of all extra deaths occurred in nursing homes, which do not benefit from a general lockdown. Moreover, in many cases it is not clear whether these people really died from Covid19 or from weeks of extreme stress and isolation.
-Up to 30% of all additional deaths may have been caused not by Covid19, but by the effects of the lockdown, panic and fear. For example, the treatment of heart attacks and strokes decreased by up to 60% because many patients no longer dared to go to hospital.
-Even in so-called “Covid19 deaths” it is often not clear whether they died from or with coronavirus (i.e. from underlying diseases) or if they were counted as “presumed cases” and not tested at all. However, official figures usually do not reflect this distinction.
-Many media reports of young and healthy people dying from Covid19 turned out to be false: many of these young people either did not die from Covid19, they had already been seriously ill (e.g. from undiagnosed leukaemia), or they were in fact 109 instead of 9 years old. The claimed increase in Kawasaki disease in children also turned out to be false.