A few things…

@DrMattMcCarthy Compare what’s happening in Italy & Germany. These 2 countries have the highest percentage of citizens over age 65 in Europe & seem uniquely vulnerable to##coronavirus. But mortality rates couldn’t be more different: In Italy, the mortality rate = 9.9%; in Germany = 0.4%. Why? One theory holds that Germany was aggressive in early testing & isolation. True. But there’s another reason: Germany has the highest nurse rate among heavily-hit countries (13.2/1000 people). Italy’s nurse rate = 5.2. Northern Italy’s hospitals are overwhelmed; Germany’s are not.(Mizuho)

1m and 3 m Generic U.S. Yields below Zero as Cash finds a home

1 month yields horz line=Zero
3m horz line=zero

Kitchen Sink possibly being thrown in according to EU Sources “

“ECB Said to Be Open to Launching Draghi’s 2012 Bond-Buying
Tool  OMT was designed in 2012 after former President Mario Draghi   
pledged to do “whatever it takes” to save the euro during the  
region’s debt crisis. It allows the ECB to buy nearly unlimited
quantities of a nation’s sovereign debt, pushing down bond     
yields that risk making much-needed fiscal stimulus            
It has never been used, and has faced pushback from Germany’s  
Bundesbank, which is worried it would breach EU law against    
monetary financing of governments.

Volume in Spoos a bit lighter then the 5 day Average take form that what you may. Spoos higher as a bits of Positive news regarding Virus from NY,Italy and California slight good news and ECB and EU news mentioned above all providing a reason to buy Spoos. if Spoos can trade top 2530 it would complete a 300 handle move higher from yesterdays lows!

The Simplest look at Credit markets shows the HYG, The High Yield ETF higher for second consecutive day +2.8% after closing higher by 4.8% yesterday. Some easing in credit worries simplest take away and also A positive for spoos

Graph below is the Gold basis April Gold Futures minus Spot Gold,Yesterdays fears about deliveries of the futures contracts resulted in a huge rush to Cover short gold Futures potions before 3-31 first notice day.the run up in Futures prices left spot gold behind and caused one of the largest intra- day move in basis in Decades. Daily close only chart. look at gyrations last few days. the covid 19 impact showing up in all corners of the markets from Gold basis to cattle complex.

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