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First-quarter US GDP may be as low as 1.2% because of coronavirus, but stocks don't seem to care

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A CNBC survey of 11 forecasters over the weekend finds first quarter GDP estimates averaging just 1.2%, down nearly a point from the fourth quarter.

Deutsche Bank shaved 0.3% off its first quarter number due to the Coronavirus effects and 0.4% because of Boeing.A volunteer measures a passenger's body temperature. In light of a coronavirus outbreak in China, Hong Kong district councillors and residents formed makeshift quarantine stations, screening passengers arriving from China, Feb. 4, 2020.

Deutsche Bank shaved 0.3% off its first quarter number due to the Coronavirus effects and 0.4% because of Boeing. "Most of the lost output is expected to be recouped in the back half of the year," the bank wrote in its recent report.But there's concern that equity markets are not taking the threat as seriously as bond market. The 10-year yield is off about 37 basis points since the beginning of the year. The S&P 500, meanwhile, remains up almost 100 points.

Barclay's economists have heeded at least some of the bond market's warning. While they argue that recent economic data suggests an upswing in global activity, they note that "the potential impact from the novel coronavirus outbreak—not yet reflected in recent data prints—now casts a shadow over this optimistic scenario."

 

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QE infinity so powerful and wonderful?

Wait for the numbers.

Good old CNBC always talking down America

TOTALLY FAKE MARKETS

The CoronaVirusExcuse

Plunge Protection commence!!!

Thata because the federalreserve is injecting 50 billion a day into the stock market.

Plenty of jobs. LOW RATES SWEEEET SPOT

The CoronvirusExcuse

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