The threat of rising Covid-19 infections in parts of Europe and the US has curbed risk appetite and lifted demand for safe-haven gold
London — A recovery in world stocks faltered on Monday as the threat of rising coronavirus infections in parts of Europe and the US curbed risk appetite, boosting demand for safe-haven gold.
“I regard the German R statistic as a bit of a red herring or more of a statistical quirk,” said Chris Bailey, Raymond James European strategist. In further evidence that the US was far from returning to normal, Apple said on Friday that it would temporarily shut 11 US stores as coronavirus cases rose in some states.
“Government debt/GDP ratios will rise about 19 percentage points, nearly twice as much as in 2009 during the global financial crisis ... the rise in debt burdens will be more immediate and pervasive, reflecting the acuteness and breadth of the shock posed by the coronavirus,” Moody’s said. “Whether there will be a lockdown may vary depending on region. It will be a tough decision for politicians. But they probably have no other choice if they are running out of hospital beds,” he said.
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