A reader says: “One thing I haven’t seen mentioned is the death of currency.
“With this ‘Grand Fear Experiment’ our leaders are escalating with the pandemic, one thing I’ve noticed is that no one wants to handle cash.
“Wouldn’t you think that this is a test for the coming cashless society? Just sayin….”
A quick Google search with the query cash and coronavirus turns up all manner of hysteria. But the real question: Can legal tender carry the COVID-19 virus? It’s possible. More susceptible than other surfaces? Nope.
Virologist Dr. Christine Tait-Burkard at the University of Edinburgh says the likelihood of transmitting the virus via cash is minimal “unless someone is using a bank note to sneeze in; [and] coins are actually very bad environments for viruses to survive.”
There you have it. That said, we wouldn’t put it past the government to discourage using cash payments.
Do you think states and/or the federal government will use electronic payments for the ominous-sounding “contact tracing”?
Your Rundown for Wednesday, June 3, 2020
Two data-center stocks are moving up and two the right during the pandemic — even outperforming the NYSE FANG+ Index (that includes high-flyers Facebook, Apple, Netflix, Amazon, Google, Alibaba, Baidu, Nvidia, Tesla and Twitter).
American group Equinix (NYSE: EQIX) along with rival Digital Realty (NYSE: DLR) “dominate the global business of data centres,” says The Financial Times, “which host computing and storage systems to enable the delivery of web services.”
And we figure with the work-from-home/school-from-home revolution web services are more necessary than ever.
The FT continues: “The companies’ combined market value has jumped by a fifth since January, to more than $100bn, while the S&P 500 benchmark of US blue-chips has dropped 5 percent.”
Steve Shigekawa, a portfolio manager at Neuberger Berman, underscores the value of Equinix and Digital Realty amid the pandemic: “We hear about the negative impact for airlines and the hotel industry, but for data centres it has highlighted the importance of having a digital infrastructure.”
The takeaway? Mr. Shigekawa says: “Data centres are at the other end of the Covid-19 crisis.”
Market Rundown for Wednesday, Jun. 3, 2020
The S&P 500 Index futures are up 21 points to 3,098.
Oil’s down a nickel to $36.76 for a barrel of WTI.
Gold’s slumping — down $25.90 to $1,708.10 per ounce.
Bitcoin is up $90 to $9,600.
Thanks for reading The Rundown. We’ll have more to say Friday.
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