Otherwise still working on updates...
- The NYT tracks corona virus vaccines progress here
- 2-week average change in new covid-19 cases:
Florida up 215.6%
Texas up 144.4
- The FL former leading Covid-19 data scientist accused the FL administration of “cooking the books” in an effort to hide the true impact of the devastating pandemic.
- (Bloomberg)In April, the U.S. personal savings rate -- the percentage of disposable income that households manage to sock away -- jumped to 32.2%. Before Covid-19 in records that date to 1959, that number had never exceeded 17.3%, and had cleared 10% only once since 1995. Fresh monthly data from the Commerce Department Friday showed the savings rate subsided to the still-lofty level of 23.2% in May.
- MoM US existing home sales drop 9.7% in May.
- YoY sales are down 26.6%.
- (CNBC) As of Tuesday 4.68 million homeowners (8.8% of all active mortgages) were in forbearance plans, allowing them to delay their mortgage payments for at least three months.
- The IMF said it now expects global GDP to shrink 4.9% this year, up from the 3% predicted in April.
- Carnival Cruise lines moved its reopening from Aug. 1 to Sep. 30…Carnival is the latest cruise line to lose its investment-grade credit ratings..
- The Walt Disney Company is further delaying the reopening of Disneyland past July 17 - New date for reopening is TBD.
- Reuters said that holdings in SPDR Gold Trust (GLD), the largest gold ETF in the world, rose 0.58% to 1,166.04 tons on Monday - a level not seen since April 2013. (UGLD is the 3x leveraged one)
- St. Louis Federal Reserve President James Bullard said on Tuesday that "The bulk of the economy will return to prior production levels," Bullard further said that the coronavirus pandemic has not turned out as bad as initially feared…
- Austria sold 100-year bonds with a yield of 0.88% (10x oversubscribed) to desperate investors with a secure yield of something anything. With France and Italy having issued 50-year bonds is the US 30-year bond now short term?
- (Bloomberg) Euro-area inflation could dip below zero Isabel Schnabel said.
- China does not have enough Covid patients at home, so it is resorting to outsourcing its phase 3 clinical vaccination trials to the UAE.
- "Unilever said it will halt U.S. advertising on Facebook for at least the remainder of the year, citing hate speech and divisive content on the platforms"
- And Coca-Cola is pausing all ads on social networks for 30 days to reassess their media plan.
- And PG is undertaking a review to make sure its commercials don’t appear near offensive content.
- And Honda, and Hershey’s, and Verizon and REI and Patagonia……………and several smaller brands said they will join the boycott.
- FB lost 8.3% or $56 billion - so far..