It's going to be pretty problematic. This was last week at HSBC, massive research department.https://www.reuters.com/article/us-health-coronavirus-banks/hsbc-sends-over-100-london-staff-home-over-coronavirus-case-idUSKBN20S1GE …
Stock, commodity, & forex exchanges are less likely to be contagion hotspots, given the switch from 'open outcry' in-person trading to mostly electronic trading. But, banks' huge trading floors could still promote community spread... Any predictions about economic effects?pic.twitter.com/QkZHgsz4XW
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Not to mention that all of these analysts travel around the globe pretty often, given the latency of this thing, it was only a matter of time.
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@primalpoly Anyone who can work from home, is. Large bank trading floors are getting split up: half the teams working at the disaster recovery sites. Some trading flows will be missed. However the damage to the yield curve of sinking rates will hurt banks 100x that.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Stocks down 50-80%.
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2008 was 50%. 1929 was 80%z Both were exacerbated by enormous leverage in the system that does not exist in today’s banking/market regime. corporations are highly levered but nothing like the 40x-200x of previous collapses. Either way this one will hurt main st immensely.
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Banks are obliged under regulations to have a Business Continuity Plan (BCP), and spend millions a year to have a recovery centre on permanent stand-by, and they have to test it annually. Disaster recovery test day is a hated annual ritual.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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The buyside will trade from home with zero interruptions
Thanks. Twitter will use this to make your timeline better. UndoUndo
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