Opening Bell 26.03.2020

Your world at 9am

world equity market heatmap

Equities

Major
DAX(DEU) +1.79%
CAC(FRA) +4.47%
UKX(GBR) +4.45%
NKY(JPN) -3.80%
SPX(USA) +1.15%
MINTs
JCI(IDN) +6.65%
INMEX(MEX) +3.11%
NGSEINDX(NGA) -0.05%
XU030(TUR) -0.74%
BRICS
IBOV(BRA) +7.50%
SHCOMP(CHN) +0.05%
NIFTY(IND) +6.62%
INDEXCF(RUS) -0.01%
TOP40(ZAF) +5.17%

Commodities

Energy
Ethanol +0.00%
Natural Gas -1.08%
RBOB Gasoline -0.80%
Heating Oil -1.01%
WTI Crude Oil -1.31%
Brent Crude Oil -0.55%
Metals
Copper +0.00%
Palladium -1.65%
Platinum -2.07%
Silver 5000oz +0.00%
Gold 100oz +0.00%

Currencies

USDEUR:-0.33% USDJPY:-0.57%

MINTs
USDIDR(IDN) -0.93%
USDMXN(MEX) +0.37%
USDNGN(NGA) -2.12%
USDTRY(TUR) +0.57%
BRICS
USDBRL(BRA) -1.19%
USDCNY(CHN) -0.07%
USDINR(IND) -0.29%
USDRUB(RUS) +0.13%
USDZAR(ZAF) +0.18%
Agricultural
Cattle +0.00%
Coffee (Arabica) +0.00%
Coffee (Robusta) +0.00%
Lean Hogs +0.00%
Lumber +0.00%
Soybeans -0.20%
Cotton +0.04%
Feeder Cattle +0.00%
Sugar #11 +0.00%
Cocoa +0.00%
Soybean Meal -1.06%
Wheat -1.38%
Corn -0.72%
Orange Juice +0.00%
White Sugar +0.00%

Out of 43 world ETFs listed in NYSE that we track, 33 are trading above their 10-day SMA and 0 are trading above their 50-day SMA.

Must Reads

A thread written by @Kianayema
On the impending #IndiaLockdown, a few thoughts. 2. Have been reading various pieces on how economic slowdown from lockdowns may lead to *more* deaths than the virus.

Asset quality pressures might return to haunt banks as lockdown stretch cashflows: Icra
1 min read .

Tackling The Corona Crisis In India: Burn The Old Playbooks And Unshackle The Mind
The Systemic Risk Council, consisting of former central bankers and academics, lists out the principles that should govern decision-making by fiscal and monetary authorities in these times: (i) Provide direct aid to business sectors that are vital to addressing the health crisis, or essential to rev

To treat COVID-19’s economic impact, start by keeping the lights on
How should we think about containing the COVID-19 economic crisis? Christmas lights, when I was a kid, were wired in series. If one light bulb blew, the whole string went dark. My Depression-era parents taught me to fix it by checking each bulb, one-by-one, all one hundred of them.

New coronavirus research suggests vaccines developed to treat it could be long-lasting
A new study from Italian researchers suggests that the SARS-CoV-2 coronavirus, which is the cause of the COVID-19 pandemic currently causing a global health crisis, is relatively slow to mutate – meaning that any effective vaccine that is developed to prevent people from getting infected should be

An Optimistic Assessment of COVID-19
PIcture credit: Aleph Blog, and the same for all the graphs and charts in this post. All liability for mistakes here is mine. This post is different than any other I have done at Aleph Blog.

German economy could shrink by as much as 20% this year due to coronavirus: Ifo
BERLIN (Reuters) – German business morale tumbled in March to its lowest level since 2009, a survey showed on Wednesday, with an Ifo institute economist saying Europe’s largest economy could contract by as much as 20% this year due to the impact of the coronavirus.

Congress is getting closer to a deal on the massive coronavirus stimulus bill
Democrats and Republicans are getting closer to a deal on the massive stimulus package to combat the economic impact of the coronavirus. “There are still a few little differences. Neither of us think they are in any way going to get in the way of a final agreement,” he added.

Why the SpiceJet stock has crashed more than IndiGo in the coronavirus storm?
On March 9, when crude oil (Brent) crashed from $50 a barrel to $35 a barrel, aggravating the pain in many Indian stocks, the two listed airline stocks held out – IndiGo Airlines gained 3 per cent that day and SpiceJet closed flat.

Check out our Global Macro Dashboard for currency, commodity, bonds and credit charts.

Good luck!

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