Daily Archives: November 14, 2020

Here is the third Macrospitality Brief, written jointly with Vanguélis Panayotis, CEO of MKG Consulting. By relying on a unique database and combining a macroeconomic and sectoral (hospitality) vision, our objective is to understand and try to forecast the economic dynamics in France but also abroad. It will also be published on the Hospitality ON website.

In our previous note1 published at the end of October, we were already anticipating a contraction in activity in the services sector for the fourth quarter, in line with the trend in the hotel industry and, more generally, in the French economy. The tightening of restrictive measures in the major metropolitan areas had an immediate impact; in a context where companies showed as early as September that they would not be able to compensate for households in the current phase of economic recovery. Even though a tightening of constraints was to be expected, the announcement of the second lockdown felt more brutal than expected due to an extremely sharp deterioration in the health situation. The fi rst available data for the month of November indicate that activity will decline significantly, but to a lesser extent than during the fi rst lockdown, in the hotel sector as well as in the whole economy. The real issue now consists in making forecasts beyond the month of November. According to health experts, it appears that a four weeklong lockdown will not be sufficien2. Although December is not a decisive month for hotel businesses nationwide3, it is a particularly important one for retail sales. Each additional week of lockdown will have an exponential impact on Q4 GDP. Thus, according to our estimations, the latter should contract by around 7% on a quarterly basis if health constraints loosen in mid-December. Otherwise, this figure will have to be adjusted downwards.

I-IMPACT OF THE LOCKDOWN ON HOTELS IN FRANCE & EUROPE

Prior to the lockdown that was triggered on the night of October 29-30, 2020, France’s hotel industry was more resilient than those of other European countries, as illustrated in the graph below.

EVOLUTION OF REVENUE PER AVAILABLE ROOM (REVPAR) IN 2020 IN EUROPE, BY COUNTRY

(Evolution expressed in % compared to the same day of the year 2019)

Sources: christophe-barraud.com, MKG Consulting – 11/2020

This phenomenon can be explained:
1. by the more moderate drop in its RevPAR (Revenue per available room) in the provinces, and
2. by the greater resilience of the budget and economy hotel segments (whose weight in the hotel pool is greater in France than in other countries):

EVOLUTION OF INCOME PER AVAILABLE ROOM (REVPAR) IN 2020 IN FRANCE, BY SEGMENT

(Evolution expressed in % compared to the same day of the year 2019)

Sources: christophe-barraud.com, MKG Consulting – 11/2020

EVOLUTION OF INCOME PER AVAILABLE ROOM (REVPAR) IN 2020 IN FRANCE, BY AREA

(Evolution expressed in % compared to the same day of the year 2019)

Sources: christophe-barraud.com, MKG Consulting – 11/2020

However, since the implementation of the lockdown, France has fallen back in line with its European peers and the
drop of its RevPAR has become more pronounced. While the drop ranged between -45% and -60% per day at the end
of October, as of November 1 it reached -82% compared to its 2019 level, and now seems to be stabilizing at around
-75% to -80% per day.

The impact of this second lockdown is therefore signifi cant, even if hotel activity still seems to be on a less strenuous
path than in April, a month in which the income per room fell by an average of 96.5% per day.

This impact was particularly noticeable in the provinces, where the industry saw its income per room drop from -35% as of October 29 to -65% as of November 2. In Paris, where the hotel business was already losing more than 80% per day in October, the fall below the -90% per day threshold in November logically triggered a new wave of hotel closures.

II-IMMEDIATE IMPACT OF LOCKDOWN ON THE ENTIRE FRENCH ECONOMY

The resilience of the hotel business compared to the fi rst lockdown illustrates a more general trend that has also been
observed in the mobility data made available by Apple. It highlighted a return to the level of early May (end of the
lockdown).

APPLE MOBILITY INDEXES

Sources: Apple, christophe-barraud.com, MKG Consulting – 11/2020

In this context, according to the Bank of France’s fi rst estimate4, “the loss of GDP for a typical week of activity (compared to the normal level before the pandemic) would be around -12% in November, compared to -4% in October but -31% in April”.

BANK OF FRANCE: ACTIVITY INDEX COMPARED TO STANDARD LEVELS PRIOR TO THE
PANDEMIC

Sources: Banque de France, christophe-barraud.com, MKG Consulting – 11/2020

This contraction in the overall economy, which was less pronounced than the one observed in May (-17%), can be
explained by several factors:

  1. the sanitary protection measures put in place several months ago have ensured the ongoing operation of
    industrial sites and building sites
  2. the widespread use of remote work has facilitated the resilience of business services
  3. the maintenance of activity in public services,
  4. the resilience of global growth with persisting robust demand from Asia
  5. the moderate level of business failures

Although we must remain very cautious, the Bank of France’s forecast of -12% (compared to the normal level before the pandemic) for the month of November seems consistent with other indicators that we monitor, in particular highway and airport traffic, and electricity consumption.

III-FOCUS ON THE MONTH OF DECEMBER

For the French hotel industry, November and December are generally months of low activity, representing only 7.6% and
6.9% of annual revenue, respectively. However, there are important local nuances as we can observe below.

SHARE OF NOVEMBER AND DECEMBER IN THE FRENCH HOTEL INDUSTRY’S ANNUAL REVENUE, BY TYPE OF SPACE AND BY METRO AREA

(as an average % of Annual Revenue per room over the period 2016-2019)

Sources: christophe-barraud.com, MKG Consulting – 11/2020

This is particularly the case in mountain destinations, where the month of November is marginal (0.8% of annual revenue) but where the month of December is particularly important (15% of annual revenue): this corresponds to the beginning of the winter season and the opening of the ski resorts and then to the winter vacations, particularly during the second half of December. More specifi cally, the week from Christmas to New Year’s Eve (December 25 to 31) alone represents nearly half of the monthly revenue, i.e. 7.4% of the annual revenue of the mountain hotel industry.

The last week of December is also usually a little more active than the rest of the month for the Parisian hotels thanks to demand from international clients, but due to mobility restrictions, they will be less likely to come over this year. However, the month of December as a whole remains globally not that important for the capital’s hotel industry (7.6% of annual revenue).

On the other hand, December is usually a month that matters more in Lyon (8.2% of annual sales) and particularly in
Strasbourg (14%). However, rather than the Christmas vacations the key moment is the fi rst fortnight of December. This can be explained by the events that usually take place during this period, including the Festival of Lights and Pollutec (a biennial trade show) in Lyon, and the Christmas markets and sessions of the European Parliament in Strasbourg. These two metropolises will therefore be more affected by the 2nd lockdown which is now underway, while the impact on the hotel industry will remain moderate in coastal cities like Marseille and the Provinces as a whole, because in these areas the high season is centered around the summer and/or periods of strong business activity.

However, for the economy as a whole and for retail sales in particular, December is a key month. According to a study
published by INSEE last year5, “with the holidays of the end of the year, December is the most important month”. Concretely, in 2018, it represented “10% of the sector’s annual sales volume, a stable share in recent years”. Nevertheless, some segments are much more exposed, such as games and toys stores (28% in 2018).

MONTHLY GROSS INDEXES OF SALES (VOLUME) IN RETAIL BUSINESSES BETWEEN 2016 AND 2018

Sources: DGFiP, calculs Insee, christophe-barraud.com, MKG Consulting – 11/2020

Under these conditions, the current restrictive measures will have a greater impact on the economy from December
onwards, and if they are maintained beyond mid-December, any catch-up phenomenon will be reduced, leading to further downward revisions of the outlook for Q4.

Disclaimer : http://www.market-securities.com/disclaimer-2

1 https://www.christophe-barraud.com/france-vers-une-rechute-de-la-croissance-au-quatrieme-trimestre
2 https://twitter.com/franceinter/status/1321710028898902016
3 This is not necessarily true in some regions that are heavily dependent on the ski season.
4https://www.insee.fr/fr/statistiques/4253935#consulter

Here is the first Macrospitality Brief, written jointly with Vanguélis Panayotis, CEO of MKG Consulting. By relying on a unique database and combining a macroeconomic and sectoral (hospitality) vision, our objective is to understand and try to forecast the economic dynamics in France but also abroad. It will also be published on the Hospitality ON website.

Vanguélis Panayotis


As an expert in the hotel and tourism industry, Vanguélis Panayotis is a recognized player in the sector and a leading observer of its transformation. He takes over the presidency of MKG Consulting in 2017, after having joined it in 2001, he supervises the teams of consultants as well as the development of operational and innovative tools, particularly those involving the monitoring of the sector’s activity. As a keen observer of the hotel and tourism industry, he regularly speaks at conferences and events to provide his expert insight on the sector’s figures, trends and prospects. He also advises key players in tourism and investment, as well as public organizations. At the same time, each year he organizes various think tanks for the profession (Global Lodging Forum, Paris Asset Forum >hospitality, Hospitality Awards, etc.).

News

As part of a regular testing protocol, I underwent routine COVID-19 testing on Friday, November 13 in Carson City. A rapid test provided a positive result. I also received a diagnostic PCR test and those results are pending at this time. pic.twitter.com/bfI16HlTpk

— Governor Sisolak (@GovSisolak) November 14, 2020

Today I announced the creation of a Winter COVID-19 Task Force. This group will serve as an advisory group for me as we move into the winter months to help best determine our strategy on hospital space and other COVID-19 issues. https://t.co/jqwdMcHYWi

— Gov. Asa Hutchinson (@AsaHutchinson) November 13, 2020

 

Restrictions (NYT Compilation)

New Mexico is at the breaking point. We face a life-or-death situation, & we must & will act to preserve the lives of New Mexicans.

On Monday New Mexico will hit reset, re-enacting the most heightened level of statewide public health restrictions to slow the spread & save lives. pic.twitter.com/XvcHCK3hU3

— Michelle Lujan Grisham (@GovMLG) November 13, 2020

Starting Nov. 18, I'm instituting a statewide Two-Week Freeze to give Oregon a fighting chance to stop this alarming spike in COVID-19 cases. This is hard. But we are trying to stop this deadly virus from spreading, to save lives. Oregon, we can do this. https://t.co/JczzNYsRGT

— Governor Kate Brown (@OregonGovBrown) November 13, 2020

Governor Brown’s four-week freeze in Multnomah County starting Nov. 18 is necessary for our safety. Oregon is facing its highest rates of COVID-19 ever, and our county is driving the increase. These guidelines will help keep ourselves, our loved ones and our communities safe.

— Mayor Ted Wheeler (@tedwheeler) November 13, 2020

Given the case counts we are seeing, hotspot counties like Multnomah County will need longer––at least 4 weeks, if not more––to stop COVID-19 from spreading in order to preserve hospital capacity and save lives. https://t.co/TXS5fhpbjq

— Governor Kate Brown (@OregonGovBrown) November 14, 2020

COVID-19 does not stop at state lines. Our hospitals are being stretched to capacity.

To protect public health, @CAgovernor, @GovInslee & I issued travel advisories:

✅ Against non-essential out-of-state travel
✅ 14-day self-quarantine after returning to state
✅ Stay local

— Governor Kate Brown (@OregonGovBrown) November 13, 2020

#California, #Oregon and #Washington issue Covid travel advisory urging 14-day quarantine – CNBChttps://t.co/WQx1bkcb2Z

— Christophe Barraud (@C_Barraud) November 14, 2020

#NorthDakota Gov. Doug Burgum ordered a statewide mask mandate and imposed several business restrictions late Friday in an effort to contain the spread of the coronavirus that has stressed the state’s hospital capacity.https://t.co/kG3hq8aAJ5

— Christophe Barraud (@C_Barraud) November 14, 2020

We believe in the power of individual responsibility, and we need it now more than ever. Working together – as neighbors, as North Dakotans, as human beings who care deeply for each other – we can slow the spread of COVID-19 and emerge stronger than ever. https://t.co/IaRhp4HZdj

— Gov. Doug Burgum (@DougBurgum) November 14, 2020

In #Virginia, Gov. Ralph Northam tightened several restrictions aimed at slowing the spread of the virus, but stopped short of issuing a lockdown.https://t.co/pk5VTwvK5U

— Christophe Barraud (@C_Barraud) November 14, 2020

New mitigation measures will go into effect at midnight on Sunday, November 15 and include:
1️⃣ 25-person limit on indoor and outdoor gatherings, down from 250
2️⃣ expanded mask requirement, including children aged 5+
3️⃣ 10 p.m. on-site alcohol curfew
4️⃣ increased enforcement

— Ralph Northam (@GovernorVA) November 13, 2020

*#NYC'S POSITIVE COVID TEST PERCENTAGE CONTINUES TO CLIMB – BBG
*NYC SEVEN-DAY AVERAGE POSITIVITY CLIMBS TO 2.83% FROM 2.68%
*NYC SEVEN-DAY POSITIVITY OF 3% WOULD TRIGGER SCHOOL SHUTDOWN

— Christophe Barraud (@C_Barraud) November 13, 2020

Cuomo #COVID Curfew Takes Effect Friday; NYC Prepares to Close Schools as Soon as Monday❗ – NBCNYhttps://t.co/BPRrDQW2nq

— Christophe Barraud (@C_Barraud) November 13, 2020

Ohio's health order enforcing mask-wearing in retail locations has been signed. The order takes effect beginning at 12:01 a.m. on November 16, 2020.

The order restates that everyone 10 or older must wear a facial covering when in a retail store and includes these provisions. ⬇ pic.twitter.com/hEBwTMvkB5

— Governor Mike DeWine (@GovMikeDeWine) November 13, 2020

 

Regional Data

Today's #COVID19 update:

– 1,237 new cases, totaling 62,006 cases statewide

– 22 additional deaths, a shocking & deeply saddening number, totaling 1,198 COVID-19 deaths statewide

– 455 current COVID-19 hospitalizations across the state

More info here: https://t.co/6Wic1fFd5R pic.twitter.com/ow4dWT4Kh4

— Michelle Lujan Grisham (@GovMLG) November 13, 2020

The test positivity rate in the focus areas under NY's Micro-Cluster strategy is 4.58%.

The statewide positivity rate excluding these focus areas is 2.29%.

We continue to take strong action to respond to outbreaks and to stop the spread.

Mask Up.

— Andrew Cuomo (@NYGovCuomo) November 13, 2020

NEW JERSEY #COVID19 UPDATE:
➡️3,399 new positive cases
➡️270,383 cumulative total cases

➡️28 new confirmed deaths
➡️14,721 total deaths

These numbers speak for themselves. Wear a mask. Social distance. Wash your hands. Stay safe.
https://t.co/JW1q8awGh7 pic.twitter.com/yMIbrjiucq

— Governor Phil Murphy (@GovMurphy) November 13, 2020

Less than a month ago, most of the state had Orange Level 2 levels of spread. Today, most of our state has reached Red Level 3.

Since Oct. 15th, 106,685 people have been diagnosed w/ #COVID19. 5,032 people have been hospitalized. 662 people have died.

Help us #SlowTheSpread. pic.twitter.com/jZSJm6uKUC

— Governor Mike DeWine (@GovMikeDeWine) November 14, 2020

Today's COVID-19 update in Connecticut:

➡️43,078 tests were administered and 2,746 came back positive (6.37% positivity rate)
➡️659 patients are currently hospitalized (increase of 42)
➡️There have been 11 additional deaths

For more metrics, visit https://t.co/FpgO8W27I0 pic.twitter.com/6RDXp4grgC

— Governor Ned Lamont (@GovNedLamont) November 13, 2020

 

National data (CDC, Covid Tracking Project, Johns Hopkins University, New York Times)

The American COVID-19 crisis has reached catastrophic levels, with 49 states simultaneously classified as hot spots, FP’s @Laurie_Garrett writes. https://t.co/rMwJWFmfcK

— Foreign Policy (@ForeignPolicy) November 14, 2020

November 13 COVID-19 Test Results; Record Cases, Record Hospitalizations https://t.co/DANnvC4NvA pic.twitter.com/2GFkWq3yBl

— Bill McBride (@calculatedrisk) November 14, 2020

Our daily update is published. States reported a record 1.7 million tests, 170k cases, and 69k current COVID-19 hospitalizations. The death toll was 1,301. pic.twitter.com/P11appz1Uj

— The COVID Tracking Project (@COVID19Tracking) November 13, 2020

Testing is increasing, though much slower than case growth. pic.twitter.com/poiE2vkY2r

— The COVID Tracking Project (@COVID19Tracking) November 14, 2020

#Covid Death Toll Mounts in U.S. With Difficult Weeks Ahead – Bloomberg
*Link: https://t.co/AZWGNvHe03 pic.twitter.com/4vwZxJ1vH2

— Christophe Barraud (@C_Barraud) November 14, 2020

 


 

 


 

Daily New Confirmed Cases

 

Daily New Confirmed Cases (7-day moving average)

 

Daily New Tests (7-day moving average)

 

Positivity Rates (7-day moving average)

 

Daily New Confirmed Deaths (7-day moving average)

Europe

According to the European Centre for Disease Prevention and Control, all European countries have crossed a key threshold of new coronavirus infections. Latest data showed that the countries have recorded cumulative 14-day infection totals higher than 50 per 100,000 inhabitants.

 

Source: European Centre for Disease Prevention and Control (data as of Nov. 13th)

 

European covid cases have peaked (again) pic.twitter.com/gDOcMBjhIO

— zerohedge (@zerohedge) November 13, 2020

 

The Austrian govt will announce steps to tighten its 2nd lockdown on Saturday, after initial measures failed to prevent infections rising – Bloomberg
Economic activity, measured by high-frequency indicators — only ⬇ 7% last week, the central bank said. (vs -26% in March).

— Christophe Barraud (@C_Barraud) November 13, 2020

 

#Eurozone: Latest Restrictions Linked To #Covid_19 (An Update)https://t.co/yMbqqvdOOn

— Christophe Barraud (@C_Barraud) November 12, 2020

 

1/21. Nov 14 to Nov 20 – #COVID19 Daily Epidemic Forecasting for 209 countries with new risk maps.
Data: @ECDC_EU or https://t.co/lsAJmfF616 or https://t.co/YgpOxMJcyy

Dashboard: https://t.co/xJNfRM6DJZ

Powered by @ISG_UNIGE & @SDSCdatascience pic.twitter.com/7xRUhcj7c9

— Antoine FLAHAULT (@FLAHAULT) November 13, 2020

 

Germany (data)

#Germany's confirmed #coronavirus cases rise by 22,461 – RKI – Reutershttps://t.co/BUJAGM2Rok pic.twitter.com/lmMD8NhHYp

— Macro Brief (@macroandfinance) November 14, 2020

 

Spain (data)

➡️Gráficas de casos notificados por día y acumulados en 14 y 7 días.

Hoy hay 21.371 casos nuevos. El viernes pasado fueron 22.516 Hace 2 viernes fueron 25595. Hace 3 viernes 19851. pic.twitter.com/d0yFN1CDmF

— ngb padel (@ngbpadel2) November 13, 2020

DATOS COVID-19 ESPAÑA

CASOS NUEVOS
✔️ +21.371 total
✔️ 8.775 día previo

308 FALLECIDOS

20.296 HOSP. [-229 ]
3.125 UCI [+2 ]

⚠️ —> + + +

HILO pic.twitter.com/8pARf8MJKQ

— Miguel Ángel Reinoso (@mianrey) November 13, 2020

Se reduce el número de personas ingresadas por coronavirus en España por tercer día consecutivo, pero sigue aumentando en UCI:

18.201 HOSPITALIZADOS
[-174 ]
6 crecen
13 decrecen

3.007 UCI
[+23 ]
11 crecen
5 sin cambios
3 decrecen pic.twitter.com/6Dd8OVFpuG

— Miguel Ángel Reinoso (@mianrey) November 13, 2020

2/4) ÉVOLUTION DE #COVID19 À #BARCELONE, publiée aujourd'hui 13/11 à 08h45 correspondant hier (3 derniers jours provisoires) des 14 derniers jours. Oubreak Risk, CFR, R-eff, Hospitalisation et décès, descente. CFR 30 jours légère augmentation (pour USI lire 4/4) Source: @salutcat pic.twitter.com/LAdmIBaRi4

— Ramon Fornos (@ramonfornose) November 13, 2020

 

France (data)

Nouveaux cas #COVIDー19 détectés

Source SPF (13/11 – date de réception des tests)
⬇️23794 cas (-60,66% vs j-7)
⬇️Moyenne à 37236 (-12,64% vs j-7)

Source SIDEP (10/11 – date de prélèvement)
33793 cas (-42,03% vs j-7)
Moyenne à 34401 (-128,52% vs j-7) pic.twitter.com/bFVlgvPAPB

— Guillaume Saint-Quentin (@starjoin) November 13, 2020

Mise à jour avec les données du 13/11 (10/11 pour les tests) : https://t.co/oGJiH6e9rU @EricBillyFR @Le___Doc #COVID19france pic.twitter.com/gzVNVvbnGy

— Germain Forestier (@gforestier) November 13, 2020

Mise à jour avec les données du jour pour les tests (10/11). Seules les données des 09-10/11 sont disponibles pour la S46 (cette semaine).

Cartes de chaleur d'incidence et de positivité disponibles pour chaque département ici : https://t.co/oGJiH6e9rU pic.twitter.com/smfDY2ctXJ

— Germain Forestier (@gforestier) November 13, 2020

[THREAD]#MétéoCovidFrance du 13 novembre

Hospitalisations

France Métropolitaine :
2820 entrées ⬇️ J-7 (3117)
Moyenne 2539,86 ⬇️ J-1 (2582,29)

DOM :
21 entrées ⬇️ J-7 (23)
Moyenne 18,71 ⬇️ J-1 (19,00)

Graph sur toute la période et les 120 derniers jours

La suite ⤵️ pic.twitter.com/lYfSMEhdTb

— Guillaume Saint-Quentin (@starjoin) November 13, 2020

Mise à jour région par région du nombre total de personne hospitalisé et en Réanimation en France Métropolitaine + DOM.

32676 Hospitalisations
[+22 ]
9 en hausse
1 stable
8 en baisse

4887 Réanimations
[+3 ]
5 en hausse
7 stable
6 en baisse pic.twitter.com/o1Lz0n1lf6

— Fabien_L (@Fabien_L) November 13, 2020

1/ J'ai essayé de trouver des données sur la grippe pour comparer la pression hospitalière avec le covid (la comparaison revient souvent dans les commentaires) pic.twitter.com/vM3ooCN0So

— Germain Forestier (@gforestier) November 13, 2020

 

Italy (data)

Record di contagi in Italia: 40.902 nuovi casi e 550 morti. Il tasso di positività è … https://t.co/r0F4wS59F1 pic.twitter.com/HARIQxdSJ6

— Corriere della Sera (@Corriere) November 13, 2020

Le nuove chiusure di vie, negozi e scuola: la mappa dei divieti https://t.co/p9zU8ZWoLd

— Corriere della Sera (@Corriere) November 13, 2020

Italian hospitals face breaking point in fall #virus surge – APhttps://t.co/qBYr7hVX9s

— Christophe Barraud (@C_Barraud) November 13, 2020

 


 

Daily New Confirmed Cases (7-day moving average)


*Note: Data can’t be directly compared to lockdown period amid methodology change and increasing frequency of tests (see below).

 

Daily New Tests (7-day moving average)

 

Positivity Rates (7-day moving average)

 

Daily New Confirmed Deaths (7-day moving average)

Americas

Wall Street closes higher, with upbeat earnings reports and COVID-19 vaccine updates helping to drive optimism about the economy https://t.co/EJOQNtC2r9 pic.twitter.com/lLJq2lYxkz

— Reuters Business (@ReutersBiz) November 13, 2020

Vegetables lift U.S. producer prices; trend remains moderate https://t.co/Z5eXFPff8d pic.twitter.com/qF69vDRp9K

— Reuters Business (@ReutersBiz) November 13, 2020

United States #Covid_19: Daily Summary (November 14th)
➡ Regiona/national data
⚠ Latest restrictions: North Dakota, New York, California, Washington, Virginia, Ohio
⚠ Lockdowns: New Mexico, Oregonhttps://t.co/Sab7jrKkaS

— Christophe Barraud (@C_Barraud) November 14, 2020

As I expected, several states such as Oregon and New Mexico will implement strict restrictions.

Others will follow in the coming weeks as health situation worsened dramatically this week.

https://t.co/pfsD4SC06n

— Christophe Barraud (@C_Barraud) November 14, 2020

NOV PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 77.0 V 82.0E
– Current conditions: 85.8 v 88.3e
– Expectations: 71.3 v 79.1e

— Christophe Barraud (@C_Barraud) November 13, 2020

Should we guess that Michigan will drop further in December? Seems like it… pic.twitter.com/v5GbSpefPN

— Mikael Sarwe (@MikaelSarwe) November 13, 2020

Former Federal Reserve Chair Janet Yellen is under consideration to be Biden’s Treasury secretary https://t.co/XyFIubZ7zp

— Bloomberg Economics (@economics) November 14, 2020

Fannie Mae and Freddie Mac will extend several loan origination flexibilities related to Covid-19 by a month to Dec. 31, the Federal Housing Finance Agency said https://t.co/pBmb4D6jCy

— Bloomberg Asia (@BloombergAsia) November 14, 2020

US grants TikTok extension on sale deadline https://t.co/cXeFBQEPZf

— Financial Times (@FT) November 13, 2020

 

Asia

Here's the latest on Covid-19:
– Hong Kong tightens restrictions at bars and restaurants
– Russia reports a record number of new infections
– Daily cases reach an all-time high of 190,059 in the U.S.https://t.co/3VndvTSvvk

— Bloomberg Asia (@BloombergAsia) November 14, 2020

FREE TO READ: CORONAVIRUS LATEST

— South Korea logs most daily cases since Sept.
— Brazil suspects hackers targeted COVID data
— US Secret Service fights clusterhttps://t.co/KvCzimeHoj

— Nikkei Asia (@NikkeiAsia) November 14, 2020

Tokyo COVID cases top 300 for 4th straight day
Officials warn of 'third wave' as infections surge in metro areashttps://t.co/KJ1eGAteIn

— Nikkei Asia (@NikkeiAsia) November 14, 2020

The Chinese government looks like it's squeezing more private-sector companies for control.https://t.co/2OcTucizEH

— Nikkei Asia (@NikkeiAsia) November 14, 2020

China will overtake the U.S. to become the world’s biggest economy in 15 years, according to Bloomberg Economics forecasts. The global economy is transitioning from West to East, and away from democracies. https://t.co/eFs8qw04Hp via @BW

— Bloomberg Asia (@BloombergAsia) November 14, 2020

Australia is showing the rest of the world just how bad things can get when you stand up to China https://t.co/HLDHDYErt8

— Bloomberg Next China (@next_china) November 14, 2020

 

Europe

#Europe #Covid_19: Daily Summary (November 14th)

*Focus on #Germany, #Spain, #France and #Italy

HT @zerohedge, @FLAHAULT, @macroandfinance, @ngbpadel2, @mianrey, @ramonfornose, @gforestier, @starjoin, @Fabien_L, @Corriere https://t.co/AlYsApMwKp

— Christophe Barraud (@C_Barraud) November 14, 2020

#Eurozone: Latest Restrictions Linked To #Covid_19 (An Update)https://t.co/yMbqqvdOOn

— Christophe Barraud (@C_Barraud) November 12, 2020

The Austrian govt will announce steps to tighten its 2nd lockdown on Saturday, after initial measures failed to prevent infections rising – Bloomberg
Economic activity, measured by high-frequency indicators — only ⬇ 7% last week, the central bank said. (vs -26% in March).

— Christophe Barraud (@C_Barraud) November 13, 2020

Italy’s government will ask parliament to approve as much as 20 billion euros in extra borrowing as soon as this month to cover aid during the country’s latest lockdowns https://t.co/PIaWwEwcoZ

— Bloomberg Economics (@economics) November 13, 2020

Dominic Cummings: PM’s top adviser thrived on animosity but lost battle for power https://t.co/YZpWow67sA

— Financial Times (@FT) November 13, 2020

Boris Johnson will spend the weekend deciding who will take forward and define his goals as Prime Minister https://t.co/odXsFhyMDm

— The Telegraph (@Telegraph) November 14, 2020

'Stock funds attracted a record $44.5 billion in the week through Nov. 11, dominated by inflows to the U.S. of $32.5 billion.' https://t.co/WbO7sXW2IA pic.twitter.com/8Ix1QFDeBg

— Jesse Felder (@jessefelder) November 13, 2020

while they're piling in insiders are piling out pic.twitter.com/agpKn15u6V

— Sven Henrich (@NorthmanTrader) November 14, 2020

"It's so strange how faddish the market has become. My thinking is we're in the late stage, very late stage of this momentum market." –@TruthGundlach https://t.co/dMSjritQIv pic.twitter.com/2hw1gf3rPA

— Jesse Felder (@jessefelder) November 14, 2020

The 2-Positioning & #Risk gauges we supply to https://t.co/GuMbelEaff subscribers each week are also starting to suggest caution. https://t.co/2aPeq1ZUJi pic.twitter.com/RaT7FQo2Fl

— Lance Roberts (@LanceRoberts) November 14, 2020

21 dma of ETF put/call ratio has gone up thru this rally. Unusual. pic.twitter.com/NAHgFG5Bxs

— Helene Meisler (@hmeisler) November 14, 2020