Ep. 9: The Wuhan Institute of virology may have leaked COVID-19, Stock Markets are internationalizing, And Bitcoin halving importance!

Welcome to another episode of the Modern Markets Podcast! Episode review: In this episode, TytanInc discusses the following topics: There is enough evidence now to suggest the Wuhan Institute of virology leaked the CoronaVirus The Bursa Malaysia stock exchange, and the Shenzen Stock Exchange are partnering across borders. Tokenization and how it will take over the world. This Bitcoin Halving importance cannot be understated. Global Market Update: North America The International Monetary Fund (IMF) has begun to forgive large amounts of foreign debt. 25 of the poorest countries in the world are seeing their debt forgiven by their lenders. IMF Managing Director Kristalina Georgieva stated. "This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts.” Similarly, the World Bank is distributing $160 billion to 76 countries to help combat the effects of the coronavirus. South America Ecuador’s issuer default credit rating has been downgraded to a “C.” The Fitch ratings company made the decision as Ecuador is exploring options to defer payments on billions of dollars in bonds that will mature this year. The low credit rating signifies a higher risk of default as the country struggles with the COVID-19 pandemic. European Union Vehicle sales have plummeted over 50% in the EU over the last month. Sales of cars and trucks hit record lows with Fiat Chrysler being hit particularly hard with a drop of 76.6% in gross sales. Financial forecasters are hoping for a “V” shaped recovery in the coming months, though a resurgence or second wave of coronavirus cases could delay that recovery by up to a year. Africa South African Airways has made the decision to fire all 4,700 of its employees. The 86-year old travel provider appears to be shutting down due to the lack of travelers. As a state-owned company South African Airways has been struggling over the past decade, hiring 9 CEO’s over the past 10 years in its attempts to restructure and retain profitability. It has not released financial statements over the last 2 years, likely due to fears of liquidation and an inability to pay back loans. Asia The World Bank projects a slump in growth in South Asia. A combination of a drop in tourism, supply chain disruption, and a drop in demand for textiles are most likely the blame for the drop in revenue across several nations. The Maldives is expected to be hit especially hard, with an estimated drop in GDP of up to 13%. Data brought to you by FomoHunt's lead analyst Kaltoro, and your host Tytan Inc. Make sure to check out the Modern Markets Newsletter at substack every week!