The impact of Coronavirus continues to expose interesting scenarios. One that pops out is the corporate bond market is now frozen.
The first 3 weeks of February bonds in the US and Europe combined for $150B+ in new bonds. These bonds fund everything from M&A to factories to paying off other high interest rate debt.
Your Daily Money flash covering Interest Rates, Interbank rates and Repo Rate.
Interest Rate (%): 1.75
Interbank Rate (%): 1.68
Repo Rate (%): 1.62
The numbers are in and GE is continuing its downsizing, right sizing or what ever term you want to use to soften the conversation. But 78,000 employees removed from the payroll in 2019 with more coming in 2020. The aggressive position the CEO is taking will be playing out for 2020, 2021 and beyond. With the pressure that Harry Markopolos put on GE with fraud in GEs accounting, the race is on and GE is playing hard.
Your Daily Money flash covering Interest Rates, Interbank rates and Repo Rate.
Interest Rate (%): 1.75
Interbank Rate (%): 1.68
Repo Rate (%): 1.62
MGM automation announcement sending shock waves through the Vegas Strip. How can a hotel that just signed a new labor agreement already be looking to automate? Give MGM great credit in seeing ahead? It will take them years to implement. This is the time start. MGM's plan to save $300M by cutting 2100 workers is worth the effort.
Your Daily Money flash covering Interest Rates, Interbank rates and Repo Rate.
Interest Rate (%): 1.75
Interbank Rate (%): 1.7
Repo Rate (%): 1.65
With the bust of the wine industry coming, Silicon Valley Bank's Rob McMillan identifies several reasons for the decline of sales coupled with a surplus of grapes that will last for several years. McMillina put the top of the list an observation that should give everyone in the marketing world pause
Your Daily Money flash covering Interest Rates, Interbank rates and Repo Rate.
Interest Rate (%): 1.75
Interbank Rate (%): 1.69
Repo Rate (%): 1.65
Regardless of the medical severity of COVID-19, the economic impact unfolding in China will have be seen in the next 60 to 90 days when products not on the shelves. But looking beyond what is right in front of us, looking at shipping from China to the US will give the exact time interruptions will begin to hit the US. Just in time manufacturing demands not keeping inventory on hand to make or sell. Tech is going to take the big hit (not services tech per say but equipment tech), like Apple's announcement. The chip companies are going to get slammed and their supply chain.
Bloomberg identified an interesting trend between US and Canadian public Marijuana producers. The Canadians are running out of Cash. Some are to less than 3 months of cash. The conversation is now how to raise the cash. Are equity markets out of the question? May be if now consolidation or outright failure is required. 
Hershel Gerson makes the following observation