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March 2020 State of the Markets

Last week of February priced in only a part of the negative supply-side shock of the Corona virus outbreak. When theme parks and public events such as the Olympics are either under consideration for cancelation or being canceled at an accelerating rate, people are staying home rather than going out such as in Italy and France or tourism falls to zero in some geographic regions, things are looking pretty bad. The virus tends to incubate within an infected person for…