Economic data released last night out of China:
- CN Feb Retail Sales YY, -20.5%, 0.8% f’cast, 8.0% prev
- CN Feb Urban Investment (YTD)YY, -24.5%, 2.8% f’cast, 5.4% prev
- CN Feb Industrial Output YY, -13.5%, 1.5% f’cast, 6.9% prev
Out of the U.S. Empire manufacturing dropped to -21.5 vs forecast of 3 this was the lowest print since 2009.Scary thought is that this will probably get worse. New York,New jersey,Connecticut and Maryland announcing measure to slow down spread of virus , gyms restaurants bars closing and gatherings are limited to 50 people.
EUROPEAN COMMISSION HEAD VON DER LEYEN SAYS EU TO INTRODUCE TEMPORARY RESTRICTION ON NON-ESSENTIAL TRAVEL TO EU FOR 30 DAYS