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US Soars while Rivals are Hobbled
We are approaching the mid-point of the first quarter, and the coronavirus from China is the new key development for businesses and investors. The economic impact appears to be still growing as the disruption to supply chains, production, and demand continues. The re-opening of China from the extended Lunar New Year holiday brought some relief to the markets as officials ensured ample liquidity, leaned against short selling, and offered concessions to businesses and encouraged forbearance by lenders. The markets have a penchant for overreacting to non-economic developments. The US-Iran conflict escalated, and Brent ... (full story)