As if the global economy, let alone the world itself, needed another thing to worry about, swine flu comes along. Having lived through the experience of SARS 6 years ago, the Hang Seng and Shanghai stock markets were hard hit. Economically sensitive commodities such as crude and copper are also weak.
The Mexican peso is having its biggest one day decline vs the US$ since Oct 22nd also in response as businesses where people congregate temporarily close. Most global bond markets are the sole beneficiary of the nervousness.
May German consumer confidence was a touch better than expected but the Euro is lower as two ECB members over the weekend said they will support another rate cut next week. The only question over the next few months is if they stop at 1% or not from 1.25% now. Earnings, auto restructurings, bank stress test capital raises and US Treasury supply will again be the focus this week.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.