Today we will all be consumed by Coronavirus reports and the market collapse. Tomorrow’s elections will take a backseat.
We will be short today, too.
The Virus reporting has been epic. We think the immediate impact gets worse. As testing procedures become available we are likely to be hit with headlines of how many more are impacted. What that will mean is positive and negative.
The virus is more widespread.
The threat of it’s reported fatality numbers is much lower.
It will take time for the nation to adjust to this, and the hysteria will continue for the days ahead.
The other impact is the news that China’s cases are in decline. That South Korea acted swiftly and seems to have this under control. That the warm weather sites seems to have missed the virus leading to the question if it eases as the weather warms, similar to the flu.
Add the knowledge that it seems those most impacted are the elderly and those with pre conditions. Much like the flu.
If everything above is accurate then in a week or two that knowledge will come forward, but until then we are mired in the headlines and nervous reports. That will impact everything.
As for the election, the Democratic establishment has continued to come together and back VP Biden. With Harris and Booker joining the pressure to be part of the team is clear.If Biden can win Michigan tomorrow then Bernie is close to done.
His one chance would be in the deate later this week to attack Biden and put him on the spot. We don’t think Bernie will do that. He let Hillary off the hook with her emails four years ago, and we don’t see him going after Biden. He is solely focused on the unfairness of the system, and not the attacks he needs to be make gains.
Okay, watch the reports and the market today. Let’s see what happens.