Daily Archives: Feb 28, 2020 at 08:01 am EDT

Welcome To Financial And Economic Re-education Camp

For the casual observer, the stock market’s rapid slide looks like madness. It was, after all, only last week that the S&P 500 closed at a record high. Six trading days later, the market has lost 12% (as of Feb. 27)–the fastest correction on record for declines of 10%-plus. But before we let recency bias take complete control of our minds, let’s consider if there’s a method in Mr. Market’s madness.

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Macro Briefing | 28 February 2020

World Health Organization: coronavirus outbreak at “decisive point”: BBC
World markets set for worst week since financial crisis: CNBC
Profiling stock market corrections since World War II: CNBC
Dozens of Turkish soliders killed in Syria by missile strike: NY Times
Turkey will no longer stop Syrian refugees from migrating to Europe: Reuters
Philly Fed’s ADS business cycle index still reflects modest growth: PF
Revised Q4 GDP data for US remains unchanged at +2.1%: Reuters
US durable goods orders edged lower in January: MW
US jobless claims rose last week but remain near historic lows: CNBC
World economy headed for worst year since financial crisis: BBG