Temperatures very, very cool on the coast and snow going into the mountains through the day. Some of the freeways here and highway 24 is moderately heavy and it is not completely light. The rain has been complicating things a bit and the Richmond Bridge seems lighter than usual and 80 does not and hit and miss bay bridge toll plaza backed up and check the south bay and 7 01, back to the desk. California now has 337 confirmed cases of coronavirus and more than twothirds of them are in the bay area where 239 cases have been verified. Santa clara has the most with 116 cases and last night a third person died in the virus in that county. San francisco has 37 cases san mateo 32 and contracosta 29 and other counties have ten or less cases. Napa is the only bay area county with no confirmed cases of covid19. Trading was halted the third time this morning, thats the third time this month. Investors are worrying about the coronavirus and fear it may lead to a global recession. Stocks dropped ne
The idea was to inject liquidity into the market. Apparently the mark did not the market did not react positively. The liquiditynow problem may not be the main issue. I am pretty sure it is not the main issue. Later that might be needed. Right now, it is too soon. When you sell a liquidity problem, what does that mean . It means injecting enough capital into the economy so people will continue doing , theyss and have needs have access to do so. In response to your comment, this is the wall street journal just a few minutes ago. Stocks and bonds, yields comment aftereffects is the right. The center for American Progress, was going to settle is going to what settle investors . We dont know the medical nature of this virus. What will the government do about this . Once we are more clear about this i think we all will figure out a way to carry on with life in a normal way. Are there lessons to be learned from how congress and the federal government responded to the financial crisis of 2008
Distancing during the coronavirus outbreak. At some point, how much toilet paper is in an, really, seriously. Yesterday the president said, the Grocery Stores will stay open. There is no need to panic and by all your groceries all at once. I think some people, they see. You see the shells are empty and you have the feeling come up, i should get something. Kind of the panic mentality. We have to have it, that kind of thing. How many rolls of toilet paper do you need . It wont be forever. You have to hunker down and take it easy. Lets focus on the facts, the newest numbers. California has 337 confirm coronavirus cases, more than two thirds here in the bay area. 239 cases verify. Santa clara county has the most at 116 cases, last night a 3rd person died from the coronavirus in santa clara county. San francisco has 37 cases, San Mateo County has 32, Contra Costa County has 29. Other counties have 10 cases or fewer. Napa as of right now is the only bay area county with no confirmed cases of
This coming out of china this morning. The Unemployment Rates surge to 6. 2 in china, and bank of japan is boosting stimulus this morning doubling stocks purchases. They are buy equities at the bank of japan because yield and tenure fall this morning. Were down 18 basis is point on the tenure at. 800 . Over this 200 coronavirus cases now here in america. West virginia, the only state with no known cases. More school ises are closing major restrictions are being put on businesses and travel. The cdc urging no gatherings of more than 50 people. Vaccine trials meanwhile are starting today. That is one certainly note of optimism. Trump declared National Emergency urging americans against hoarding as Grocery Store is shelveses are emptying out. The president taking part in a Video Conference of with g7 lead percent today to coordinate a response to the coronavirus pandemic. Meanwhile this, senate is expected to vote in coronavirus release bill today. They were there late until 1 a. M. Frida
I will use another strong word. Panic. That is justified. Late yesterday, panicked investors drove the dow down 1191 points. Thats the biggest oneday point loss ever. Okay, thats the backdrop. Now todays reality. The dow at one stage early this morning, futures were down over 600 points. Right now we are down over 400 points. The s p down 50. The nasdaq composite, way down, another 2 lower, off 166 points. Today on this show, we will ask when do we get a rebound . Where are the bargains that longterm investors might go for . Now look at this. This, what you are seeing, is a worldwide rush to put money into ultrasafe u. S. Treasuries. The yield now, 1. 19 . At one stage earlier it was 1. 16 , an historic low. That is a classic flight to safety. Heres what happens when the Global Demand for oil falls out of bed. Sharply lower prices. At this moment, we have got, what, about i think its 45 per barr barrel. That is on the price of oil. Thats the latest on the market action. Now the latest