Newsflash: Anyone for Tennis?

Newsflash: Anyone for Tennis?
currencies
Source: Bloomberg, *time of writing 06h40, 2020-04-02

The global infection rate is approaching 1m people, and with the total deaths, this implies a mortality rate of 5%, which is higher than predicted. We hope that this will drop with the roll-out of many more tests.

Global equity markets fell yesterday with the US S&P 500 dropping the most two weeks. This comes on the back of President Trump’s statement warning Americans that there are “a painful two weeks ahead” and with the estimates of up to 240 000 American deaths.

Big business and the Ultra-High-Net worth families continue to donate to SA with the Oppenheimer family giving their 2nd R1bn and Naspers donating R1.5bn. There is also pressure on corporate executives to take pay cuts in order to support their businesses. Dividends are expected to be reduced or entirely foregone for many listed companies.

Wimbledon has been cancelled for the first time since World War Two because of the coronavirus pandemic. “Devastated. There is no GIF for these things that I am feeling.” – Roger Federer; “I’m shooked.” – Serena Williams (using the slang equivalent for “I’m shaken”.)

coronavirus numbers

For more information contact:

Greg Flash
Chief Investment Officer
e. greg@cinnabarim.co.za, c. +27 72 668 8964
FSP Number 45402, w. www.cinnabarim.co.za
Cinnabar Cape Town, 298 Main Road, Kenilworth, 7708

Windall Bekker
Head of Distribution
e. windall@cinnabarim.co.za, c. +27 72 191 0492
FSP Number 45402, w. www.cinnabarim.co.za
Cinnabar Cape Town, 298 Main Road, Kenilworth, 7708