Community Spread in the US
THREAD: On New #COVID19 Diagnosis in California Tonight: We will have community spread of #coronavirus in the U.S. It is likely that we have — right now — more cases that remain undiagnosed but will soon be revealed. We need to keep in mind several key points: 1/n— Scott Gottlieb, MD (@ScottGottliebMD) February 27, 2020
Trump Admin Incompetence
Alarming new Washington Post report says U.S. workers not wearing protective gear assisted coronavirus evacuees from China. A whistleblower filed a formal complaint. https://t.co/ocJDPbVTgD— Derick Waller (@wallerABC7) February 27, 2020
Iran's "Screaming Mary" Infected
??#Iran’s VP tests positive for #coronavirus, after other government leaders were found to be infected.— Dr. Dena Grayson (@DrDenaGrayson) February 27, 2020
The high number of deaths (26+) relative to reported cases (254) suggests a much larger #CoronavirusOutbreak in Iran than reported.@thespybrief https://t.co/reJg6VYV5F
How Many Iranians are Really Infected?
Japan to Close All Schools
Futures US Headline?— Jim Bianco (@biancoresearch) February 27, 2020
Prime minister Shinzo Abe urged all schools to close — a de facto order from the central government—until the end of the spring break on April 8 in an attempt to reduce social contact and halt the spread of the virus.https://t.co/qBVOkgRzgo
Let's Get Those Exports to China Humming
Look at the items the U.S. Commerce department is recommending for export to China. Ventilators, respirators, masks, MASK MANUFACTURING MACHINES…— Matt Stoller (@matthewstoller) February 27, 2020
This is nuts. pic.twitter.com/0bUIooueJ9
Trump wants to exports masks to China. Hey, why not?
Bianco's Latest Charts
Clorox Doing Well
Few winners emerge after brutal stock sell-off— The Long Game (@7LongGame) February 27, 2020
Cruise Ships and Casinos Not Doing Well
Cruises and casinos getting crushed— Ben Carlson (@awealthofcs) February 27, 2020
Amazing how close all of these drawdowns are to one another
Massive re-pricing of industries all at once pic.twitter.com/YtnkZCzYmw
You have not lost enough money yet.— Jim Bianco (@biancoresearch) February 27, 2020
*LAGARDE SAYS VIRUS NOT YET AT STAGE REQUIRING ECB RESPONSE: FT
Too Soon For a Rate Cut?
Jay Powell, you're up!— Jim Bianco (@biancoresearch) February 27, 2020
The market is pricing a 53% chance you cut in March.
Greater than 50% means it is now expected.
Are you listening to the market's "forward guidance."
You can trade these odds herehttps://t.co/36oZ9wbTcE@DavidBeckworth @GeorgeSelgin https://t.co/OZxGhNeWQW
How About a Surprise Rate Cut?
Now a 68% chance the Fed cuts on Mar 18 ... this also mean mkts are BEGINNING TO price in an inter-meeting cut BEFORE March 18.— Jim Bianco (@biancoresearch) February 27, 2020
To be clear, inter-meeting is still low, but it is moving off zero. Even yesterday this was an impossible.
When does the emergency Fed meeting start? pic.twitter.com/yxDKp3Fz7F
Twice in the past week I mentioned the possibility of a surprise rate cut.
If it happens, I won't be surprised.
All News Must Funnel Through VP Pence
The CDC seems fairly incompetent monitoring over 4,000 people who may be spreading the disease as I type, with only 200 test kits.— Mike "Mish" Shedlock (@MishGEA) February 27, 2020
But coordinating through Pence is 100% guaranteed to exacerbate the problems.https://t.co/tWsR27jDnH https://t.co/WFsmejnFiC
US Censorship Already
- Feb 19: Fed Minutes Highlight Coronavirus Concerns and Uncertainty 8 Times
- Feb 24: Bond Yields Crash and Gold Soars on Pandemic Threat
- Feb 25: CDC Admits Spread of Coronavirus in the US Appears Inevitable
- Feb 25: Lie of the Day: This is Not a Pandemic
- Feb 25: Nearly 50% Odds of "At Least" 3 Rate Cuts by December
- Feb 26: Trump says We are "Very, Very Ready for the Coronavirus, for Anything"
- Feb 27: Useless Act: California Monitors 8,400 People for Coronavirus; 33 Test Positive
- Feb 27: Containment Fails: Coronavirus Tweets of the Day
Rate cuts odds started rising before coronavirus threat materialized on news Largest Global Shipping Decline Since 2009.
In regards to point 6 and Trump's comment that we are "very, very, ready", excuse me for pointing out that California is monitoring 8,400 people and has 200 test kits.
And monitoring people in and of itself is useless. By the time anyone show symptoms, they have been a carrier for as long as 19 days.