Premium Post: The COVID-19 Watch List
Community spread of the COVID-19 coronavirus, defined as the infection of a person without travel to a country like China or contact with someone who returned from one of the affected countries was confirmed last week in California and in the Pacific Northwest. Despite all the news from mainland China, Hong Kong, Iran and Italy, it does not look like the U.S. was very well prepared. In the first California case of community spread, the hospital in Sacramento requested a COVID-19 test from the CDC but was denied the test and the infection was only confirmed after testing was done several days later. Community spread was a wake up call to local and federal agencies as well as the U.S. stock market. A 50 basis point rate cut from the fed also did not appear to ease fears as the market battled with both the risk of a highly infectious disease and a Bernie Sanders presidency. With Joe Biden taking the lead on Super Tuesday with an estimated 566 delegates (1,991 needed to win the nomination), the market rebounded strongly as at least one of the two key perceived risks appeared to abate. For me, the canary in the coal...
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