Regular readers will know that much of our reporting currently on COVID-19 is taking a macro view, looking at absolute basics that will shape things to come.
Readers will know that we have cited watching what money markets are doing to try and gauge the economic pulse. On Saturday we were advising hospitality businesses to look at cash flow with ice cold pragmatism and with immediate effect, that advice is ongoing.
We also on Saturday called what would happen yesterday when stock markets opened, as the weekend gave no time to adjust to a situation that changes at near light speed.
So, when the US stock markets opened thirty minutes ago it was good to see an immediate bounce back of circa 2%.
Unfortunately in the few minutes it has taken to write this update US stock markets have eliminated those temporary gains and gone negative.
Much of the financial commentary coming out of the US today does remain cautiously positive, financial commentators seem to feel that the US treasury is dealing with matters as best as they can given the complicated and ever changing news that is coming through.
15.00 Update: US stock markets are currently trading up circa 2.5% today and this is has just nudged the FTSE 100 just into positive territory on today’s trading.