Off Cycle Commentary -Viruses & Economic Impact – 03-09-2020 – Herb Morgan
By Herb W. Morgan, III, Efficient Market Advisors
Viruses & Economic Impact
What started as a Coronavirus Correction has now spilled over into credit. At this point we just don’t know how much impact the virus will have on the economy. To be sure, there will be an impact. What is particularly frustrating is that this all comes as economic data was accelerating into the new year.
We just had back-to-back months (January & February) of 273,000 gains in employed Americans. Weekly claims remain low and the overall unemployment rate was at 3.5%. We had strong auto and retail sales. All of this occured against the backdrop of a growth friendly policy agenda and an accomodative central bank. Continue Reading Here