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46,000 store closings

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This "virus!" thing just accelerating the already projected retail closings ... CMBS have to be in BIIIIIIIGGG trouble... I don't see how Treasury's 0B of Fed guarantees is going to cover it... unless Fed plans on spending 25 cents on the dollar to begin with... How U.S. retailers are closing stores in the U.S. over coronavirus concerns https://t.co/tGznu3jwRt— Bloomberg Economics (@economics) March 28, 2020

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This "virus!" thing just accelerating the already projected retail closings ... CMBS have to be in BIIIIIIIGGG trouble... I don't see how Treasury's $400B of Fed guarantees is going to cover it... unless Fed plans on spending 25 cents on the dollar to begin with...

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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