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Don’t overlook the write offs: Eye on the World 07/08/20
07/08/2020
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US-China tensions ratcheted up and US fiscal brinkmanship continued, with tech-led markets higher. Supports from jobless claims, virus cases, and earnings.
HOT TOPICS analyses wave of oft-overlooked goodwill impairments and write-offs. US companies took cUS$200bn charges in 2008, and 25% of EuroStoxx co’s in eurozone crisis. Will be more now on recession depth and M&A boom. Energy leading, but sector impacts widespread. Can surprise investors, impact covenants, earnings, dividends. Half the earnings fall last recession was non-cash.
16-page daily includes: Market recap and What to watch; Hot Topic analysis; Country and Sector allocation eye; Key views; US and global performance, valuation, earnings, and macro forecasts; and report Library
