Global Coronavirus Death Toll Nears 100k As Thousands Die In Britain & America: Live Updates
The number of new coronavirus cases confirmed worldwide climbed at a rate of roughly 85k overnight yesterday, a rate that was roughly consistent with the prior two days. That would lead scientists to believe that the global outbreak might finally have “plateaued” – word that’s been thrown a lot lately.
Unfortunately, while the number of new cases remained stable, deaths in the US and UK continued to climb. But while thousands of families bid a distant farewell to their loved ones, the Fed’s latest intervention – couched as a lifeline for small business – has sent badly beaten junk bonds on their strongest daily rally since 2009 as spreads collapsed.
Now that the Fed has apparently extinguished credit risk from the market, ensuring that thousands of “zombie” firms will continue to borrow at extremely attractive rates, allowing them to lumber on through another day as ‘moral hazard’ is extinguished. What’s worse, almost, is that no one seems to care.
With markets around the world closed for Good Friday, and millions of Christians around the world observing the holiday while stuck inside their homes, the biggest story of the day is the fact that the global death toll will likely top 100k before midnight on the East Coast of the US. Roughly 17k – about 20% – of those deaths are from the US.
Then again, it’s extremely likely that the true number of deaths has already passed that number, as more reportsare finding that Americans are almost certainly being left out of the counted dead, just like many Italians and Chinese probably were.
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