FT News Briefing CDC director warns of second coronavirus flare-up, threat to mortgage-backed bonds
May 21, 2020
The CDC director warns of a potential second wave of coronavirus in the U.S. as cases surge in the southern hemisphere. Meanwhile, the iconic Mall of America struggles with mortgage payments, posing risks to the $500 billion mortgage-backed bond market. The discussion shifts to India's pharmaceutical sector, where companies are pivoting away from reliance on China, boosting local production and attracting foreign interest in specialty chemicals. It highlights the intersection of health, economy, and global supply chains in a rapidly changing landscape.
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Potential Second Coronavirus Flare-Up
- The coronavirus may resurge in the US during autumn/winter, similar to the flu.
- This is based on its current spread in the Southern Hemisphere.
Preventing Another Lockdown
- Follow CDC guidelines to prevent another lockdown.
- Avoid crowded spaces like full airplanes and cruise ships.
Mall of America Mortgage Default
- The Mall of America, the largest in the US, missed mortgage payments.
- This highlights the retail industry struggles impacting mortgage-backed bonds.