GS on the emergency declaration in Tokyo, Osaka and some other parts of the Japan

  • Q2 GDP to be down 25% (q/q annualised)
  • consumer spending to also fall 25% (ditto)
  • exports to drop 60% in Q2


Wow, that is bleak.

Some of the responses to the emergency declaration

  • Uniqlo to close stores, reduce opening hours for other
  • Starbucks is closing stores in state of emergency areas