E Market Briefing For Wednesday, June 17

  • COVID-19 may dominate what happens ahead as if we can't successfully reopen the economy without a massive 2nd wave, it should be evident it impacts the prospects for business and need for additional monetary and fiscal stimulus, which impacts credit markets too.
  • While it may seem indirect, the death of a couple dozen Indian soldiers from an attack by China, really matters, it might even help India withdraw relying on China for many components, such as 5G systems and cellular backhaul (that's where the fairly-dormant Ceragon (CRNT) might perk-up since Vodafone (VOD) and others in India are their single biggest market, so far CRNT is boring).
  • Coronavirus remains the biggest support for technology stocks, and also a consideration regarding valuations of big-techs 'if' business life normalizes, a trend that may not fully return to the past, given how 'sticky' the remote work at home regimen became.
  • Stories about COVID-19 in recirculating air & ventilation are issues I mentioned, oh months ago (such as cruise ships), and seem to only now get attention, and part of why holding large indoor gatherings plays Russian Roulette with people's health, thus folly, although I understand motivation (politics should not be a factor at all, scientists and doctors simply say 'just wear masks'), as too many (young & old) are cavalier about this, there has to be concern.
  • Perhaps worth noting: Google (GOOGL) trying to deny advertising revenue to websites they don't agree with, or being attacked by NBC, CNN or others, reflects an awful trend of conformity that is 'not journalism', not democratic, and danger to what is called 'the 4th Estate', or the 1st Amendment right to an opinion.
  • So I may disagree (and do) with lots of what passes as news will say, but I defend their right to say it, my gosh, any liberal who opposes that is actually not liberal, and that's another example of intolerant egalitarianism, which in-reality is anything but open-minded to diverging opinions.
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