Les dépêches mercredi matin

Aucune diversification n’est possible, tout est corrélé, no place to hide

Thanks, central banks…

Cross-asset correlation at 20-year highs pic.twitter.com/aR54J3hNZJ

— Daniel Lacalle (@dlacalle_IA) June 17, 2020

Surréaction aux USA

Citi US economic surprise index at historical highs despite weak growth momentum. This suggests expectations for US growth had over-adjusted on the downside, Citi says. pic.twitter.com/ewh3ZPtNED

— Holger Zschaepitz (@Schuldensuehner) June 17, 2020

Chute dans l’automobile en EU

OUCH! EU car sales sink again, falling by >50% in May: Around 581,000 new cars were registered last month, compared to 1.21mln in May 2019. Among the biggest EU markets, May sales were down by 72.7% in Spain and around 50% in Italy, France and Germany. pic.twitter.com/kAsDrIxxIp

— Holger Zschaepitz (@Schuldensuehner) June 17, 2020

Reuters] Asia stocks given pause by virus surge, geopolitics

[Reuters] Japan’s exports fall most since 2009 as U.S. demand slumps

[Reuters] Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey

[Reuters] Record spike in new coronavirus cases reported in six U.S. states as reopening accelerates

[FT] Beijing coronavirus outbreak piles pressure on Communist party