BA.2, also known as “stealth omicron,” is considered to be a sub-variant of omicron. In Chicago, the sub-variant is now making up at least two-thirds of the city’s COVID cases. Hospitalizations and deaths have declined over the last week. That is good news but we still need to be cautious.
The WHO dashboard shows what is going on country by country. Globally, as of April 14, 2022, there have been just over a half billion confirmed cases of COVID-19. The death toll now exceeds 6.2 million. U.S. deaths have finally slowed down to less than 1,000 per day and are now at 979.3 thousand. Global vaccinations are at 11.3 billion doses administered.
The market is in the dumpster. on the Fed. The ten-year is up to 2.83%. Tech is paying the price. The six GAMMAT stocks were all down and total less than $10 trillion for first time in quite a while. The other techs are way down down. I remain bullish on tech, large and small.
Digital assets are relatively new, but they are part of a larger trend, the digitization of finance which has been in the making for decades. In 1990, there were fewer than 3 million internet users. Now, there are about 4.5 billion. Many aspects of our financial lives can be managed from mobile devices. The growth of digital has opened a world of possibilities (and risks) which were not dreamed of a few decades ago. Crypto will play a leading role, in my opinion.