Sep. 11, 2020

6 MONTHS AGO COVID-19 WAS DECLARED A GLOBAL PANDEMIC…WHERE ARE WE NOW?

  • March 11, 2020 the World Health Organization declared COVID-19 as a global pandemic.
    • 28,449,884 cases as of September 11th
    • 915,535 deaths (led by US, Brazil, India)
    • 20,445,647 recovered
    • 7,027,703 current infections (60,804 serious or critical)
  • Drug makers have pledged to avoid shortcuts while studying safety of vaccines.
    • Astrazeneca paused Phase 3 trial due to a serious side-effect, hope to restart next week
    • China has started testing a COVID-19 nasal spray vaccine
  • Economic activity around the world is recovering with possible local pauses as necessary
    • Canada, US, China, Europe, Australia, New Zealand, UK all reopening
  • Bank of Canada and Federal Reserve both have stated that they expect a protracted and uneven recovery.
    • In Canada, we have recovered 2,000,000 of the 3,000,000 jobs lost; the next 1,000,000 will be more challenging to recover
  • 61% of US women are planning a major career change post-pandemic (source: Forbes.com)
    • 25% are setting up a new business
    • 50% believe COVID has provided new professional opportunities in the long-term

ENERGY AND ENVIRONMENT

  • International Energy Agency (IEA) says US crude output is expected to be11.38 million bpd for 2020 vs 11.26 million bpd previously forecast.
  • Alberta and Quebec together with the Federal Government are continuing to invest in hydrogen.
    • Canada is one of the larger hydrogen producers in the world, making 3,000,000 tonnes using steam methane reformation of natural gas
    • Federal strategy includes increasing production, building transportation and storage infrastructure and a distribution network.
  • Quantafuel AS, a Norwegian company, is turning plastic waste into diesel fuel.
  • Baker Hughes is downsizing its oilfield services and equipment portfolio and will instead emphasize energy transition and technology for renewables.
  • Uber said that every vehicle on its global ride-sharing platform will be electric by 2040 and have pledged to contribute $800 million through 2025 for drivers to switch to electric vehicles.
  • 87% of packaging used by Nestle is recycled or reusable material; goal is for 100% by 2025.

TIDBITS

  • Canadian housing starts hit a 13-year high, rising 7% in August M/M.
    • Most starts in Toronto and Ottawa
  • Citigroup’s Jane Fraser is the first women ever named as CEO of a global bank.
  • US 30-year mortgages declined to a record low 2.86% this week.
  • UK and Japan have agreed to a post-Brexit trade deal; UK said 99% of exports to Japan will be tariff free.
  • Tesla launched fast electric car charging in Berlin and will adding more cities over time.
  • Walmart is testing a drone delivery project for groceries and other household items.
  • Floods washed away more than 25% (2 million tons) of Nigeria’s rice harvest.