According to the press, China is experiencing normal traffic jams, while the major threat is reinfection from the West, so borders are locked shut. They are anticipating business as usual. They are in for a shock.
JP Morgan are on the wires saying markets have made their lows, and although it will be volatile, its time to "average into oversold markets."
In my opinion… they are fools.
I suspect this is going to be a very very bad week for markets.
April is going to hurt. Last week's rumbustious rally on the back of kitchen sink government fiscal promises, QE infinity and "the boys will be home by Chistmas" market optimisim, is going to be crushed. The flow is about to get much worse, in a trifecta of economic, business and virus news.
We are about to learn a sharp brutal lesson about expectations versus reality:
There is no swift end in sight. The UK has been warned to expect months of distancing. Trump isn't reopening the economy for Easter - he's closing America down till May.