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            <a class="pre-header-sm lg:pre-header-md uppercase text-primary hover:underline" href="/categories/macro">Macro</a>

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          <time datetime="2020-03-23T10:01:06+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 23, 2020 10:01</time>
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              COVID-19’s spread continues to accelerate
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  “There are decades where nothing happens, and there are weeks where decades happen.” — Vladimir LeninAs highlighted on Friday, governments have stepped up around the...
</div>

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        LGT Crestone
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            <a class="pre-header-sm lg:pre-header-md uppercase text-primary hover:underline" href="/categories/macro">Macro</a>

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          <time datetime="2020-03-23T09:59:17+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 23, 2020 09:59</time>
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              Recovery delayed, risks rising
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  Coronavirus is tightening its grip in the US and Eurozone, where it’s expected to cause significant economic disruption. This has repercussions for Asia Pacific...
</div>

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          <time datetime="2020-03-23T06:45:11+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 23, 2020 06:45</time>
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   After the rise of mechanisation, comes the rise of industrial automation, the use of computers, robots and AI to increase productivity in manufacturing.  Citing the...
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  For years concerns have been brewing among a growing number of participants that the staggering rise of index-tracking and exchange-traded funds (ETFs) would lead to...
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          <time datetime="2020-03-21T15:35:49+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 21, 2020 15:35</time>
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              Central Banks Spawned This Crisis
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            <div id="wire-summary" class="paragraph-sm text-darkestgray break-word mt-2 sm:paragraph-xs lg:paragraph-lg">
  The rapid and widespread sell-off over the last four weeks is a textbook systemic deleveraging. Whilst the culprits are many; hedge funds, risk parity strategies and...
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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>Coronavirus Brings Feast to Distressed Debt Market with Jonathon Rochford | Nucleus Investment <span class="whitespace-nowrap">Insights<svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  When we last spoke to Jonathan late last year, he noted that there was hardly any distressed debt on the market for him to buy. Now there&#39;s a feast.  In today&#39;s...
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  No-one saw it coming, and no-one wants it to stay. Covid-19 was the Black Swan that roiled society, cascaded into markets and triggered a global economic downturn that...
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              <span class="wire_title_component w-full block group-hover:underline"><span data-controller="logged-in-class" data-logged-in-class-logged-in-class-value="hidden"></span>Aussie dollar&#39;s wildest week since <span class="whitespace-nowrap">GFC<svg xmlns="http://www.w3.org/2000/svg" width="24" height="18" viewBox="0 0 24 18" fill="none" stroke="currentColor" id="embed_video" class="inline-block align-middle group-hover:underline w-6 h-4 lg:h-6 ml-2">
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  A week is a long time in politics and certainly in FX markets. Last week the US Dollar Index was close to 18 month lows, undermined by the rapid spread of Covid-19 in...
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</a></div>

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    <div data-controller="tooltip">
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        <time datetime="2020-03-20T14:13:47+11:00" data-controller="datetime" class="hidden sm:block sm:flex-none order-1 w-36 uppercase pre-header-sm lg:pre-header-md text-darkgray">March 20, 2020 14:13</time>
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          <time datetime="2020-03-20T13:00:26+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 20, 2020 13:00</time>
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</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="787" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-flt">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Flight Centre Travel Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:FLT</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-787">
            Followed by<span class="font-bold text-gray-700"> 510 </span>people
        </div>
          <div 
  class="follow-stock-code-787-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="787"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="JLG" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-jlg">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">JLG</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1066" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-jlg">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Johns LYNG Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:JLG</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1066">
            Followed by<span class="font-bold text-gray-700"> 104 </span>people
        </div>
          <div 
  class="follow-stock-code-1066-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1066"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="WAA" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-waa">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">WAA</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="2141" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-waa">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Wam Active Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:WAA</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-2141">
            Followed by<span class="font-bold text-gray-700"> 62 </span>people
        </div>
          <div 
  class="follow-stock-code-2141-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="2141"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <a class="px-1 py-0.5 text-bold-md text-nav-item" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/wires/defence-defence-defence">
      +5
</a></div>

        </div>
        <div class="pt-4 pb-4 lg:pb-2 hidden sm:block">
          <div class="flex gap-2">
    <div data-controller="tooltip">
  <a aria-label="FLT" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-flt">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">FLT</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="787" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-flt">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Flight Centre Travel Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:FLT</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-787">
            Followed by<span class="font-bold text-gray-700"> 510 </span>people
        </div>
          <div 
  class="follow-stock-code-787-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="787"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="JLG" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-jlg">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">JLG</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="1066" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-jlg">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Johns LYNG Group Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:JLG</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-1066">
            Followed by<span class="font-bold text-gray-700"> 104 </span>people
        </div>
          <div 
  class="follow-stock-code-1066-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="1066"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="WAA" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-waa">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">WAA</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="2141" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-waa">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Wam Active Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:WAA</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-2141">
            Followed by<span class="font-bold text-gray-700"> 62 </span>people
        </div>
          <div 
  class="follow-stock-code-2141-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="2141"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="WAM" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-wam">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">WAM</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="2142" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-wam">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">WAM Capital Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:WAM</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-2142">
            Followed by<span class="font-bold text-gray-700"> 295 </span>people
        </div>
          <div 
  class="follow-stock-code-2142-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="2142"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <div data-controller="tooltip">
  <a aria-label="WAX" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/stock_codes/asx-wax">
    <div
  class="lw-badge rounded-2xl  md"
  
  
>
  <div class="flex items-center gap-2">
    <span class="text-bold-md">WAX</span>
  </div>
</div>

</a>  <div class="hidden" data-tooltip-target="content">
    <div class="w-80 rounded-md overflow-hidden shadow-horver-card border border-light">
  <div>
    <a data-controller="event" data-event-name-value="link_click" data-event-id-value="2146" data-event-statisticable-value="stock_code" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tooltip&quot;}" href="/stock_codes/asx-wax">
      <div class="p-4 flex group">
        <div class="flex flex-col">
          <div class="text-heavy-17 text-body truncate truncate-two-lines break-words group-hover:underline ">Wam Research Ltd</div>
            <div class=" text-darkestgray truncate font-sans leading-4 font-semibold capitalize text-heavy-md">ASX:WAX</div>
        </div>
      </div>
</a>    <div class="px-4 mt-0.5">
      <div class="flex items-center py-4 border-t border-light">
        <div class="flex-grow text-darkestgray text-bold-sm" id="followed-count-stock_code-2146">
            Followed by<span class="font-bold text-gray-700"> 95 </span>people
        </div>
          <div 
  class="follow-stock-code-2146-stock-code-tooltip-hovercard"
  data-load-engagement-count-target="follow"
  data-followable-type="stock_code"
  data-followable-id="2146"
  data-options="{&quot;custom_data&quot;:{&quot;section&quot;:&quot;stock_code_tooltip&quot;},&quot;style&quot;:&quot;hovercard&quot;}"
></div>

      </div>
    </div>
  </div>
</div>

    <div class="h-0 w-full flex justify-center">
      <div class="border-6 border-tooltipDownArrowLight"></div>
    </div>
  </div>
</div>

    <a class="px-1 py-0.5 text-bold-md text-nav-item" data-controller="event" data-event-name-value="link_click" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;section&quot;:&quot;stock_code_tags&quot;}" href="/wires/defence-defence-defence">
      +3
</a></div>

        </div>
      <div class="lg:flex lg:items-center clear-both">
        <div class="mt-2 lg:mt-4">
          <div class="flex items-center">
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        <span data-controller="event" data-event-name-value="link_click" data-event-view-name-value="summarized_longform_wire_view" data-event-id-value="66333" data-event-statisticable-value="profile" data-event-custom-data-value="{&quot;position&quot;:17698,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="Homepage Latest Feed" data-event-ga-action-value="link_click" class="mr-1">Bella Kidman</span>
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      <div>
        Livewire Markets
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</div>

        </div>
        <div class="hidden lg:block lg:mt-4 mx-4 w-1 h-4 border-l border-gray-300"></div>
        <div class="mt-4 flex items-center text-heavy-sm md:text-heavy-md text-darkestgray">
          <div class="flex items-center mr-4">
            <div id="wire-listing-like-43850" data-load-engagement-count-target="like" data-wire-id="43850" data-position="17698">
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  data-controller="event turbo-stream " data-event-name-value="like_clicked" data-event-view-name-value="" data-event-id-value="43850" data-event-statisticable-value="wire" data-event-custom-data-value="{&quot;position&quot;:17698,&quot;section&quot;:&quot;latest_feed&quot;}" data-event-ga-category-value="latest_feed" data-event-ga-action-value="like_clicked" data-event-ga-label-value="" data-turbo-stream-method-value="post"
  
  
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</button>


</div>            <div class="flex items-center ml-1">
              <div id="comment-link-43850" data-load-engagement-count-target="comment" data-wire-id="43850" data-position="17698">
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  data-controller="
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  As the world grapples with the threat of the Coronavirus, financial markets have experienced significant volatility in recent weeks. Against this background, it’s...
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        Qualitas
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          <time datetime="2020-03-20T11:16:22+11:00" data-controller="datetime" class="pre-header-sm lg:pre-header-md uppercase text-darkgray sm:hidden">March 20, 2020 11:16</time>
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  “If you don’t have a god to believe in, I would get one very rapidly”Australian comedian and TV presenter Kate Langbroek explained last night on Channel 10’s The...
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        LGT Crestone
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