Daily Archive: May 28, 2020

Thailand reports 11 new coronavirus cases, no new deaths By Reuters

© Reuters. FILE PHOTO: The coronavirus disease (COVID-19) impact on tourism, in Bangkok

BANGKOK (Reuters) – Thailand on Thursday reported 11 new coronavirus cases and no new deaths, bringing its total to 3,065 confirmed cases and 57 fatalities since the outbreak started in January.

The cases were Thai nationals in quarantine who recently returned from overseas, including four from Kuwait, six from Qatar, and one from India, said Taweesin Wisanuyothin, a spokesman for the government’s coronavirus task force.

There are 2,945 patients who have recovered since the outbreak started.

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Beware bear market math: Three things that look good, but aren’t all they’re cracked up to be

Equities continue to ignore any bad news out there, including the Donald Trump administration’s contemplation of unveiling a range of sanctions on China as punishment for the crackdown in Hong Kong, not to mention the heightened tensions between India and China as the former has mobilized troops along its northern border.

If today’s news flow isn’t about vaccines or reopenings, investors could care less. There is not a day where the markets fail to vigorously respond to any vaccine/treatment news, almost like how they responded last year to the multiple utterances from Trump on the “Phase One” trade deal with China.

The latest is from Merck & Co. Inc., which stated it has bought the rights to develop a potential drug that has “potent antiviral properties against multiple coronavirus strains,” adding that it is also starting work on vaccine candidates. We are now up to at least 10 coronavirus vaccines

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Leaked documents show what Goldman Sachs really thinks of Bitcoin

News that Goldman Sachs would be briefing clients about Bitcoin set the cryptocurrency world abuzz on Wednesday morning. Would the famous investment bank deliver a seal of approval to digital currency? Would the briefing cause the price of Bitcoin to soar?

Alas, for crypto fans, the answer came as a resounding no when slides of Goldman’s presentation, dryly titled “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin,” leaked on social media.

One slide offered the withering perspective that cryptocurrencies like Bitcoin are not even an asset class in the first place, and that they offer neither cash flow nor a hedge against inflation.

“We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment for our clients,” the slide concluded.

That wasn’t the worst of it. A follow-up … Read More