Hotel companies in the United States are imploring Washington for relief amid the escalating cancellations because of the coronavirus pandemic. Industry leaders face seemingly impossible decisions as revenues have all but disappeared while significant fixed expenses remain. … READ MORE >
Covid-19
Just how deep is the supply shock? West Coast ports tell the story.
West Coast port activity implies that the supply shock affecting the domestic economy is broad and deep. This strongly suggests a sharp decline in consumption and industrial activity as firms struggle to acquire supplies to make final goods and consumers pull back because of a lack of finished goods on the shelves. … READ MORE >
For family offices, coronavirus presents a new challenge, and chance to reposition
Like any industry sector, family offices are facing challenges in managing the coronavirus crisis, but they also have the opportunity to prepare for the eventual rebound. … READ MORE >
Jump in initial jobless claims signals an impending recession
The data is likely the first sign of the catastrophic disruption to normal life and an impending economic recession caused by the spread of the coronavirus. … READ MORE >
Housing was set to soar. Then the coronavirus hit.
Housing starts fell 1.5% in February, to a seasonally adjusted annual rate of 1,599,000, which is less than anticipated as forecasters projected a 4.3% decline. … READ MORE >
Preview: Jobless claims to soar in near-term
Over the next few weeks, U.S. data flow will capture the impact of the supply, demand and financial shocks that are cascading throughout the economy. Policymakers should anticipate a wave of layoffs reflecting the stunning downturn in the economy. … READ MORE >
Revising growth lower: A reset is coming for the U.S. economy
The American economy is simultaneously absorbing three distinct shocks, each of which will act as a large drag on economic growth during the current and second quarters of the year. The impact of the coronavirus will cause a disruption to American society that will last well beyond the current crisis and will affect growth over the next three to four years.
As coronavirus spreads, private equity contracts even as it prepares for a rebound
As the U.S. financial system and broader economy swoon from fear of the damage that the coronavirus will leave in its wake, private equity deal flow will soon begin to feel the pinch. … READ MORE >
U.S. retail sales declined in February amid coronavirus uncertainty
Consumers pulled back across the board on spending in February as the onset of the coronavirus began to shape household expectations about the economy and society. … READ MORE >
Coronavirus concerns for rural health care
The coronavirus has largely affected more populated areas in the United States, but if the outbreak spreads to rural areas, hospitals will be put to the test to handle the health crisis. … READ MORE >