A few observations as I look across the landscape.
Unemployment
10 million have filed for unemployment benefits in just two weeks time.
3.3 million last week. 6.6 million this week.
That pushes the total unemployment rate to over 9%
The Federal Reserve Bank of St. Louis suggests the unemployment rate could reach 32% before the end of June. In the Great Depression of the 1930's the highest unemployment rate reached was 25%.
Air Travel
Air Travel is down 94% from this time last year.
136,023 flew by air on April 1, 2020. 2,280,522 flew exactly one month ago on March 1.
If you need further proof, this is the TSA area at the Denver airport at 530pm CDT on April 2 which would normally be packed.
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| Credit: @Cernovich |
Restaurants are closed throughout the United States except for take-out and delivery. The same is true for other countries as well. This graph shows the % change in diners from the end of February to the end of March. It is not easy to lose 100% of your business in two weeks no matter where you are in the world.
If you think it is tough in the United States what do you think it is going to be like in the other 150 countries in the world impacted by this?
Asset Class Returns
Here is a chart of various asset class returns in March, since the market high on 2/19 and YTD. If you were an investor, there were plenty of way to lose money. These charts are all from Bespoke Investment Group.
US-related Equities
Global Equities
Bonds
Commodities
Changing Google Search Trends
Who ever thought that we would be searching "toilet paper delivery"?
Which States Are Showing The Worst ( and Best) Test Results
Michigan looks like the next big hot spot. Are there any flights still going to Hawaii?
A Sight On The Landscape We Would Like To See More Of
This is the drive-thru test site closest to my home. Not a car in line or in sight at 10am this morning. Workers standing ready but no business. This is one thing we want to see out of business SOON.
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