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Shore Hospital needs surgical hats/beanies. They can accept homemade ones….or purchased ones. Interested people can call 609-653-3882 and leave a message. Someone will call them back right away...
The numbers are exploding. As of a week ago on Sunday afternoon (3/15/20), more than 150,000 people globally were confirmed to be infected with the COVID-19 virus, separate from the almost 6,000 worldwide deaths. By late Sunday afternoon (3/22/20), there were 330,000 confirmed cases globally, with 14,000 deaths, i.e., both numbers had more than doubled in just one week.
The Cape May County Freeholder Board had a Special Meeting on Sunday to discuss what to do within the County regarding the impact of the COVID-19 outbreak. Some new changes include the Cape May County Park and Zoo and all the Cape May County Libraries Branches are closed to the public beginning on March 17. Also, Fare Free Transportation will only provide medical trips for dialysis, chemotherapy, radiation therapy and infusion therapy (life-saving treatments). They will also provide in-county shopping. The only out of county trips will be for Northfield Dialysis. All non-essential trips have been cancelled i.e. hair appointments, library, visitation, etc. This service reduction will go into effect Tuesday and remain until further notice. The Cape May County Freeholder Board also supports the decision by Gov. Phil Murphy to restrict bars and restaurants to take-out and delivery services only during daytime hours. The Board of Chosen Freeholders along with Cape May County Health Officer, Kevin Thomas, highly recommend that all businesses limit employee and public interaction by restricting the number of customers to no more than 10 at a time. Social distancing measures will help minimize the potential spread of the coronavirus in the community. Cape May County government business will also be doing its part to limit social interaction by continuing to restrict travel for county employees, limiting interaction with the public for employees, when it’s possible, by pushing for teleconferences or online communications...
It was an unexpected bull market that began just over 11 years ago on the heels of a brutal 17-month, 57% decline in the S&P 500 index. Premature calls for the bull's demise became routine throughout 14 drops of at least 5% during the 11-year run, including six declines of at least 10% and three falls of at least 15%.
Ocean City Baseball Clinic for This Sunday Has Been Cancelled...
The yield on the U.S. 10-year Treasury note fell to 0.709% at the close of trading last Friday 3/06/20, the lowest yield ever on the 10-year note and the 9th consecutive trading day that has ended in a record-low yield close. Until this incredible “flight to safety” by investors began on 2/25/20, the record low yield for the 10-year Treasury note was 1.36%, set on 7/08/16. But as fears connected to the spread of the coronavirus have escalated, equity investors have become bond buyers, sending debt prices soaring and yields tumbling (source: Treasury Department).
Stock investors have been unnerved by the coronavirus’s rapid spread into countries far from the outbreak’s initial source in China. A 3% or greater drop in the S&P 500 stock index in a single trading day has occurred only 108 times since 1950, equal to once every 7.8 months. Three drops of at least 3% in the same trading week, something that happened on Monday, Tuesday and Thursday last week, had last taken place in late October 2008. Last week’s “back-to-back” losses of at least 3% (on Monday and Tuesday) for the stock index was just the 10th such occurrence since 1950. In the nine previous times this has happened, the S&P 500 was “up” 1- year later each time, gaining between +6.2% to +45.0%, with all nine gains averaging a +22.8% gain (source: BTN Research).
The U.S. government has issued 30-year Treasury bonds since 1977. There was a four-year stretch of time (2002- 2006) when sales of new 30-year bonds were suspended, largely due to a lack of buyer interest. The closing yield on long-dated Treasuries has been as high as 15.21% (October 1981) and as low as 1.90%, the latter record set just last Friday (2/21/20). (source: BTN Research).
Congressional lawmakers spent two days last week asking Fed Chairman Jerome Powell during his Capitol Hill testimony how the Federal Reserve was prepared to respond if/when the coronavirus impacts the U.S. economy. Chairman Powell delivered the expected “we’ll do whatever it takes” speech without going into the details of exactly what that means. Powell then turned the tables on committee members who were questioning him, scolding the Washington lawmakers for the U.S. government’s projected $1 trillion annual deficits over the next decade (source: Congress).