Daily Briefing – March 19, 2020

Published on
March 19th, 2020
Duration
23 minutes

Daily Briefing – March 19, 2020

Daily Briefing ·
Featuring Ed Harrison and Roger Hirst

Published on: March 19th, 2020 • Duration: 23 minutes

With confirmed COVID-19 cases continuing to rise, Real Vision’s Ed Harrison gives an update on the reported numbers. He and Roger Hirst break down the recent moves in the FX, equities, and oil markets. Harrison and Hirst share their thoughts on the Canadian oil conundrum, the effect of global monetary policy on the dollar and other currencies, how exactly Europe will respond to the coronavirus chaos, and more.

Comments

Transcript

  • MJ
    Matthew J.
    22 March 2020 @ 00:49
    Roger is extremely informative and useful. Thanks Roger!
  • AS
    Adolfo S.
    19 March 2020 @ 23:03
    Not a single comment about todays Bitcoin rally?
    • EH
      Edward H. | Real Vision
      19 March 2020 @ 23:11
      Tomorrow. Raoul is all over how to think about movements in bitcoin
    • JW
      JW2 W.
      20 March 2020 @ 07:06
      I hope the RV team can also do a feature on Ethereum. I have a hard time figuring out whether this is indeed the foundation of the new DEFI world or whether in the long term this turn into another s*coin. The BTC maximalists don't like it, which I can understand because some of them simply have their BTC blinkers on. The Austrian Economics crowd don't like it because it's not money. I get that. What is more worrisome is that the BTC Statisticians don't like it due to the unforgeable scarcity and s2f arguments. This carries more water in the long term imho. The fact is that ETH is broadly supported and has a rich ecosystem. Plus they are an active player in the upcoming Token economy, via initiatives like TTF (https://tokentaxonomy.org/). So, what do we have here? I don't know.
    • GH
      Gregory H.
      21 March 2020 @ 04:55
      Hey JW2 W., here is a link to an interview with the Ethereum founder that was posted in the past week to Lex Fridman's AI Podcast series... https://www.youtube.com/watch?v=3x1b_S6Qp2Q
    • JW
      JW2 W.
      21 March 2020 @ 17:42
      Thanks Gregory.
  • RG
    Roy G.
    21 March 2020 @ 16:29
    Thanks for these daily updates. One question...does it seem plausible that China has zero new cases while countries around /next to them have seen a small number of incremental cases?
  • RY
    Roy Y.
    21 March 2020 @ 11:48
    Love this ... Getting better and better by the day ... Thank you both ...
  • NS
    Niels S.
    21 March 2020 @ 11:37
    Thank for for doing this update each day. It is very interesting. I have two comments for what was said today: 1) EH mentions that the ECB stepped away from the capital key in the additional purchases of EuroZone government bonds under PEPP. Please note that this is not correct. For the government bonds bought under PEPP these limits remain in place. They still mention that they will revisit this aspect when they get to the limits. Please see the link to the press release below. 2) Separately, from a European perspective the issue with the EuroZone countries debt is currently not re-denomination risk. More immediate would be the debt sustainability of countries like Italy, if the spread and absolute yield levels were to rise significantly and would stay there. If a government's debt were to be considered unsustainable, then a secondary consideration (after debt restructuring) would be whether the country in question would also be better off outside te EuroZone. In the case of Greece we saw that these are not the same considerations: you can default and still remain in the EuroZone. Please feel free to reach out if you have any questions on ECB, ESM etc. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr200318_1~3949d6f266.en.html
  • AG
    Abhimanyu G.
    20 March 2020 @ 05:37
    Would love to see this as a permanent series, in some shape or form. Much more insightful than the daily drivel on CNBC.
    • GH
      Gregory H.
      21 March 2020 @ 04:51
      when we get back to normal, this would be great even if it was a weekly thing
  • CC
    Charlie C.
    21 March 2020 @ 04:37
    Keep doing the briefing YOURSELF; you ask the best questions and make the best points. Not the Friday ones by ... :(
  • DS
    David S.
    20 March 2020 @ 16:56
    I am a registered nurse of 25 years working in San Francisco right now. SO much BS is flying around right now that it's hard to sort through and create tangible meaning from the data points in my life whether clinical, social or financial. Your daily videos REALLY help, a lot. Thank you, very much. Hope everyone out there is washing their hands.... DCS
    • NS
      Nir S.
      20 March 2020 @ 17:10
      Thank you David for all you do. Please stay safe.
  • CH
    Chris H.
    20 March 2020 @ 13:03
    Î have been thinking to move most of my funds from Germany and Great Britain to the US, just as a safety measure. I think Raoul also mentioned that US banks are safer than banks in Europe, but none of them are in the Top 40 list. Could maybe somebody more knowledgeable than myself comment on this?
  • II
    IDA I.
    20 March 2020 @ 10:30
    I love these thank you so much
    • CB
      Clifford B.
      20 March 2020 @ 12:09
      I concur, great format and great value.
  • CM
    Carlos M.
    20 March 2020 @ 09:05
    I suspect the lag in case count is only because US is still not taking it seriously enough at one point this number will jump higher, reminds me of Chernobyl when radiation levels were not that high just because the instruments for measurement were medical ones and radiation was out of the scale it was only when they brought an army counter that they saw the real scale of the disaster.
  • VH
    Victor H.
    20 March 2020 @ 06:26
    Roger + Ed = The New RV Dynamic Duo!!! :) Great to have you guys during our #QuarantineLife
  • II
    IDA I.
    20 March 2020 @ 06:13
    Negative interest rates work only if you have eliminated cash from the system, Canada uses little cash I believe but it would have to be extremely limited (very limited withdrawals per day)
  • JC
    Jas C.
    20 March 2020 @ 01:26
    Total amateur here. What is the best way go get exposure to USD (other than just holding dollars)?
    • WM
      Will M.
      20 March 2020 @ 01:32
      As recommended by many on RVT incl Raoul.... UUP
    • WM
      Will M.
      20 March 2020 @ 01:35
      Sorry to clarify the UUP ETF is the easiest for less experienced amateur traders. Other will offer suggestions for options on the UUP or other FX approaches.
    • JC
      Jas C.
      20 March 2020 @ 01:46
      Thx will !
    • ML
      Mike L.
      20 March 2020 @ 03:00
      It's important to what UUP is made up of. "value of the U.S. dollar relative to a basket of the six major world currencies - the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc".
    • II
      IDA I.
      20 March 2020 @ 06:02
      the best thing is to just hold dollars
  • TS
    Tim S.
    20 March 2020 @ 00:32
    The american thinks this is about the virus.... Its not, and the brit knows it
    • km
      kenneth m.
      20 March 2020 @ 01:32
      You obviously haven't watched many of these or listened to Ed previously - he and the entire RV staff has consistently said that the virus is only a trigger which is revealing long-term structural problems. What a disappointing and useless comment. Please either contribute something useful or not at all....
    • JM
      John M.
      20 March 2020 @ 05:37
      "It's not"? ? Even if the economy were healthy & the structure of the markets sound, Covid-19 is a very destabilizing event. Investors have never experience anything like it & its ultimate economic impact is still unknown. Many people are afraid and isolated at home, some are dying. The economy is grinding to a halt! The effect on markets was inevitably going to be 'Big Time'.
  • ss
    scott s.
    19 March 2020 @ 23:02
    If the millions of doses of chloroquine and hydroxychloroquine already on hand are effective for therapy and prophylaxis for healthcare and service workers and cost less than $2.00 per dose...
    • ss
      scott s.
      19 March 2020 @ 23:04
      for therapy of everyone and protect healthcare and service workers from infection...
    • ss
      scott s.
      19 March 2020 @ 23:16
      it will be the only thing that matters.
    • FG
      Flavio G.
      20 March 2020 @ 03:27
      Now that Trump has come out to say that the FDA has approved hydroxychloroquine for COVID (which seems to be incorrect), the consumption of quinine is going to skyrocket, as well as its price. Now mainly cultivated in Africa and the Middle East. There is going to be a fight to buy what there is because there is not going to be enough quinine trees to fulfill global demand for this component. They will have to go for the synthetic version of it. Prices will go up. Anyone out there knows which pharma labs will do this synthesis and supply the product?
  • WM
    Will M.
    20 March 2020 @ 01:30
    I think Martin Armstrong has been arguing that mutulizatioln of European debt is the only way to save the Euro.
    • FG
      Flavio G.
      20 March 2020 @ 03:19
      Oh, that will make the day for the Greeks and Italians. They'll make fireworks with Northern money.
  • JH
    Jason H.
    20 March 2020 @ 03:06
    The sad truth is that if you don't turn up most bosses have very little idea of how to measure your work output! Systems need to change to measure activity more effectively... and not before time!
  • JH
    Jason H.
    20 March 2020 @ 03:04
    Yep... this could well be a habit changer! We might actually use the technology we have had for decades!
  • NR
    Nelson R.
    20 March 2020 @ 01:56
    I my opinion Reporting was a key piece missing from RV. It is great to see it has now been added. Keep it up gents.
  • GC
    Gary C.
    20 March 2020 @ 01:41
    Great thoughtful discussion.Please consider a discussion of the possibility of a “Plaza Accord” like meeting to assist the dollar acquisition shortage in multiple Fx markets. Also consider the alternative method to drop the dollar value by purchasing gold ....like the 1934 dollar devaluation..
  • CH
    Charlie H.
    19 March 2020 @ 22:21
    Great update from Roger and Ed per usual. These daily briefing videos have been the highlight of my day during this crisis.
    • th
      terry h.
      20 March 2020 @ 01:18
      I really look forward to these daily discussions. Keep up the good work
  • rr
    rlw r.
    20 March 2020 @ 00:35
    Yep, really appreciate the Daily Briefing initiative. Thank you Raoul, Ed & Roger.
  • CD
    Cheryl D.
    19 March 2020 @ 23:27
    great update - as always big thanks!!
  • RA
    Robert A.
    19 March 2020 @ 23:16
    The account management part of your website is full of bugs. I just sent Milton a message to raise the issues, but when I tried to send a photo (screenshot) your iOS app crashed! Honestly, you guys are losing revenue due to these bugs and there are several of them. I tried to upgrade my membership tier, but the screen shows an error message -and that's after entering payment info. Come on guys, get it sorted!
  • DZ
    Dennis Z.
    19 March 2020 @ 23:15
    Hey Ed, I don't like that you are using China's "official" numbers for the Coronavirus graphs. I feel there is enough information out there to make it obvious that those figures are in no way accurate. Therefore the case can be made that RealVision has become an unwitting channel for the Chinese CCP propaganda surrounding their handling of COVID-19. How much energy and attention have you put into checking the accuracy of what the Chinese say? I just don't feel those figures should be used unless you have more info than I do on this topic.
  • DS
    David S.
    19 March 2020 @ 22:45
    Are the banks taking all the counterparty risks in the Fed funded repo market? DLS
  • MR
    Matthew R.
    19 March 2020 @ 22:44
    Ah, finally my RV essential membership is paying dividends. Great chat, and thanks for the timely discussion.
  • AG
    Andrew G.
    19 March 2020 @ 22:29
    thanks fellas, great update
  • JP
    John P.
    19 March 2020 @ 22:25
    I feel this is the weakest part of your content. Swedish Krona? Really?