Member Info for Darth.Trader

MEDI, shorts are being covered which lead to this bear rally, markets will make a new low....
the real problems start when they ease lockdown...

Bull Trap....

HSBC sees mounting credit losses after pandemic halves first-quarter profit.

HONG KONG/LONDON (Reuters) - HSBC Holdings PLC (HSBA.L) on Tuesday warned of more earnings pain ahead after first-quarter profit nearly halved as it set aside a hefty $3 billion in bad loan provisions due to the coronavirus pandemic.

Europe’s biggest bank said the outbreak would mean sustained pressure on its revenues as customer activity declined and lower interest rates squeezed margins, while noting increased fraudulent activity could lead to “potentially significant” credit losses.
The bleak outlook, shared by many lenders reporting earnings this season, underscored the scale of the problems facing the sector as it grapples with corporate borrowers in crisis, plunging stock and oil prices, as well as low interest rates.

https://www.reuters.com/article/us-hsbc-hldg-results-idUSKCN22A0EF?taid=5ea7f687e153850001938517&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

...spread worsens as lock-down eases...
Merkel..;
"Even if we assume that one person infects 1.1 others, we would reach the limits of what our health system and intensive care beds can manage in October," she warned earlier this month.

https://twitter.com/TradeFloorAudio/status/1255063435085217792

"This message has been filtered, please adjust your filters to view..."

i bet its an attack on a poster....

See Coronavirus Reemerge In Patients Up To 70 Days After Negative Test: Live Updates...
Its just the latest example of patients claiming they've suffered a relapse in symptoms, or have seen them persist for 2 months or longer.

The unusual nature of the virus, and the vastly different behavior documented in different patients, is something that has puzzled scientists, as some wonder whether the virus might linger in patients, then occasionally reemerge, like herpes or HIV.

Months ago, we reported that scientists had discovered some unusual "HIV-like" mutations that purportedly would allow the virus to more easily attach to certain receptors, allowing for easier human-to-human infection.

Of course, if the virus does behave this way, this would definitely lessen the impact of a lockdown over time, though at least lockdowns would give hospitals more time to prepare for the inevitable onslaught of infected patients.

In other news, Malaysia has extended its national lockdown for a third time: "While the figures show a positive trend, the steps we take must continue to a point where we believe the Covid-19 outbreak can be fully contained," said Muhyiddin Yassin, Malaysia's prime minister. The lockdown, which was supposed to end next week, will be extended to May 12.

https://www.zerohedge.com/geopolitical/shocking-new-data-show-90-covid-19-patients-ventilators-wont-survive-live-updates

probably a gremlin,

the FED will have to go all in and go negative...., 0% rates....

we only had the initial shock, yes printing monies holds up but i'm thinking all our problems start post lock-down...
80's yes i recall this, 15% interest rates at one point.
l

I read somewhere that the President qualifies for a gov backed loan for (staff furloughed) Golf courses, Scotland & Ireland ...no doubt they were probably heavily in debt...
do all his business turn to carp...?

Nash, i'm thinking 21000 firstly, then a test of the low. I see the DOW @16K.

Bear rally... DOW looking to resume the overall downward trend...

Initial Jobless Claims show another 4.4m Americans claiming unemployment benefit in the last 7 days.

US claims now up over 26m in 5 weeks.

Yes i too think its worse than we could expect .....swing trade in the way forward until normality returns, still got a recession to get through, Brexit....

SC there will be a bounce in the figures post lock-down; however that too will be short lived as the reality replaces uncertainty...

WASHINGTON (Reuters) - A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month as the novel coronavirus savages the economy.
https://www.reuters.com/article/us-usa-economy/record-u-s-jobless-claims-wipe-out-post-great-recession-employment-gains-idUSKCN2250CS?utm_medium=Social&utm_source=Twitter&utm_medium=Social&utm_source=Twitter

..Some big lenders have begun reopening their doors to British borrowers, making it easier to get a home loan.

At the start of the coronavirus lockdown, several scrapped deals or only offered loans to those with large deposits.

But this week Nationwide, Halifax, Virgin and Santander all made it easier for people to qualify for a loan.

"Lenders are adapting and innovating," said broker Mark Harris of SPF Private Clients.

Nationwide resumed loans at 85% loan-to-value (LTV) on Wednesday, while Halifax raised its LTV level from 80% to 85%.

Meanwhile, this week Virgin Money began offering purchase mortgages again, as Santander increased its maximum loan size - from £300,000 to £500,000 - and cut fees on its residential mortgages.

https://www.bbc.co.uk/news/business-52390860

https://twitter.com/Reuters/status/1253072343078969346

Although PRA applied pressure Antonio made sure he made Sam the patsy...

if you like that sort of thing....
https://file.wikileaks.org/file/