Y4, czn has held very well. One thing your forgetting corona virus will cut cash flow to all business except explorers as they have no income to loose. They are nett spenders.
In czns case they got timing right on that cr, any cr done now will flop. So they can ride this out well.
Retailers, transport, tourism, education will have revenue close to ceasing here. Esp discretionary retail spending.
Iron ore also because if consumers not buying, no need for raw product in the short term with JIT systems.
Oil will be hit with less demand from transport, depends if there an oil producer or retailer here, if retailer they still have leases to pay.
Then they will be asking landlords for reprieve.
Then comes finance for bridging and defaults and cash supply.
This isn't going away in a week or two and hasn't even peaked yet. Italy is a good example in just 1 week, cause and effect.
Now there will be selling of czn by those that need the money, ie people that have been told to not work on no pay or just selling to protect capital. Some just sell 5he entire portfolio.
I hope in a way it goes to 0.1 as I have a stash of cash to spend.
The main thing hear is many will get infected, but it's elderly sadly and those with pre existing that will die.
I read about a lady with it, she said its less bothersome than the colds she's had. So illness is beat up by the media greatly.
For healthly, most and 0 to 60 years no worries, but inconvenience.
Looking forward to well insulated czns drilling and sailing thru.
What I've said maybe harsh, but it's fact and the market has spoken already on it.
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