WTF Just Happened in Pennsylvania, Minnesota, and Ohio?!

  1. Q: Why the significant layoffs in certain states? I definitely get the freaking the F out factor. The only idea I have is that these are supply chain states and the supply chain died really quickly. Please shoot me a tweet or comment on this with other ideas, curious what you think.
  2. C: There are a lot more unemployment initial claims coming this week. Put CV cases and case density aside. Let’s assume it’s everywhere now. If we flip the second chart and look at states where there was relatively light increase in claims, I would imagine there is a lot more room there for pain. States like Georgia, Arizona, Texas, Illinois, and Florida all have decent populations and all had lighter than average initial claims last week.

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Private credit CIO at Pier Asset Management. My opinions. Past performance no guarantee of future results.

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Conor Neu

Conor Neu

Private credit CIO at Pier Asset Management. My opinions. Past performance no guarantee of future results.

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