, recovering to 5.5% for the whole year - the worst showing since at least 1990. Yet markets refuse to be too discouraged. A pan-European index is in fact opening at record highs, buoyed by … answers on a postcard.
The thinking appears to be the virus impact will not last, it’s not spreading outside China as fast as feared and above all, central banks can step in — slower growth will bring more stimulus, or at least lower interest rates for longer. That makes shares more appealing. The virus causes a near-term demand shock, of course, but it’s a problem easily solved by central bank liquidity, is the message from research notes.
When it reaches deaths of 1 million and more, then, and only then, will I be interested.
CNN: According to WHO, there are more than 47,000 laboratory-confirmed cases of the novel coronavirus worldwide, with the vast majority in mainland China.
Everyone is scorning China for not acting sooner but other countries including the U.K. are all doing the same! In denial and watching it unfold. It’s viral and impossible to fully track so is only going in one direction!
We will never know the real numbers, but they will be a lot worse than we are told.
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