Economy
Coronavirus, the potential for a vaccine, and the cytokine storm! (PP Admin)
After updating on the latest case information, this video explains what a cytokine storm is, how that actually is the cause of harm, and additional troubling information that nCoV (now “covid-19”) spreads through the air. Can a vaccine be developed soon? Well, a prior attempt to create one for SARS ended up doing more harm than good in animal models. This means we may need to temper our hopes for a quick vaccine and allow the process to run. It may take a while – a year or more?
Asia’s Stocks Trade Mixed, Treasuries Hold Losses: Markets Wrap (jasonw)
Asian stocks opened in mixed fashion Wednesday as investors weighed the spreading coronavirus against expectations for policy support. Treasuries held modest losses.
Australia’s shares ticked up after earnings from the country’s biggest bank and the nation’s bond yields advanced. Japanese stocks swung in early trading, reopening after a holiday. South Korea’s equities were little changed amid a surprise increase in the country’s unemployment rate. Meanwhile, New Zealand’s central bank left interest rates unchanged and said forecasts showed no chance of a cut this year. The kiwi dollar advanced.
A ‘highly pathogenic strain’ of H5N1 bird flu has been reported in China’s Hunan province (jasonw)
A “highly pathogenic” strain of the H5N1 bird flu has been reported in China’s Hunan province, Chinese officials said, according to a Saturday report from Reuters.
The outbreak was reported on a farm in the city of Shaoyang in the Hunan province, according to China’s Ministry of Agriculture and Rural Affairs. Of the 7,850 chickens on the farm where the outbreak occurred, 4,500 died of the H5N1 avian flu, Reuters reported.
195 Americans Released From Coronavirus Quarantine At Southern California Air Base (jasonw)
The 195 Americans who were evacuated from Wuhan, China, last month have now been released from the first mandatory quarantine the Centers for Disease Control and Prevention has ordered in more than 50 years.
The group, which faced numerous health screenings both in China and during their trip and quarantine, has now been “medically cleared,” health officials said Tuesday, clearing the way for them to leave the March Air Reserve Base in Southern California.
New Coronavirus Disease Officially Named COVID-19 By The World Health Organization (jasonw)
The new coronavirus disease that was first identified in Wuhan has received an official name from the World Health Organization: “COVID-19.”
“COVI” comes from coronavirus. The “D” stands for disease. The 19 represents 2019, the year the virus was first identified, in December.
WSJ Publishes “Highly Classified” Evidence Proving Huawei Spies For Beijing (jasonw)
Late last week, British media reported the details of a particularly tense phone call between President Trump and UK PM Boris Johnson. During the call, Trump effectively chewed out Johnson over the UK’s decision to allow Huawei equipment to be used during the construction of “non-core” segments of the country’s 5G network
Though Johnson tried to play down the significance of the decision, there’s no question that he had willingly risked a serious break in his relationship with Trump and Washington. We suspect Trump was so enraged because he has frequently bragged about striking a “big, beautiful” trade deal with Johnson. As the Vindman twins can attest, Trump doesn’t tolerate embarrassment.
A Store, a Chalet, an Unsealed Pipe: Coronavirus Hot Spots Flare Far From Wuhan
A handful of buildings around the world have been linked to multiple cases of the new virus, raising fears of rapid transmission.
An apartment building in Hong Kong, its units linked by pipes. A department store in the eastern Chinese city of Tianjin, where more than 11,000 shoppers and employees mingled. A ski chalet in France, home base for a group of British citizens on vacation.
‘Like Europe in Medieval Times’: Virus Slows China’s Economy
Workers are stuck in their hometowns. Officials want detailed health plans before factories or offices can reopen. Assembly lines that make General Motors cars and Apple iPhones are standing silent.
More than two weeks after China locked down a major city to stop a dangerous viral outbreak, one of the world’s largest economies remains largely idle. Much of the country was supposed to have reopened by now, but its empty streets, quiet factories and legions of inactive workers suggest that weeks or months could pass before this vital motor of global growth is humming again.
Energy
Oil Traders Could Lose Big On Coronavirus Panic (michael s.)
In a market environment in which the majority of day-to-day traders are retired, moved on, or fired within a decade or less, the reaction to events of a type that have not been seen in that timescale tend to be overdone. This suits the more seasoned traders who decided not to retire but to trade on their own account or for hedge funds because they can let these less-experienced traders skew the price before stepping in and scooping up big profits from corrections based on reality.
Oil Sinks To Prices Not Seen Since 2018 (michael s.)
Market fears and weak oil demand have prompted a continued oil price slide, with both the Brent crude and WTI crude benchmarks falling on Monday to lows not seen since the end of 2018.
Gold & Silver
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The post Daily Digest 2/11 – New Coronavirus Disease Officially Named COVID-19, 195 Americans Released From Coronavirus Quarantine appeared first on Peak Prosperity.
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