Conflicting information continues to pile up in financial markets, making a confusing picture for investors and the rest of the world trying to make sense of it.
On the one hand, Wall Street rallied hard overnight as the V-shaped desperados seized on news that various States are now developing lock-down exit plans as a sign that peak-virus is upon much of the United States.
That contrasted with a massive increase in bad debt provisioning by (NYSE:) and (NYSE:) overnight at their Q1 earnings calls. In fairness, they appear to be front-loading the bad news, which is an eminently sensible strategy, sure to be followed by the rest of the sector. That said, both emphasised that dark times are coming for the U.S. and global economies.
President Trump announced that he was withholding from the World Health Organisation as they are in thrall to China, although legally, he may not be allowed to it. If anything, given the China telecom ban last week, the White House seems intent on…
