From Reuters, Monday afternoon:
RTRS-WHO SPOKESMAN SAYS EMERGENCY COMMITTEE COULD DECIDE TO RAISE PANDEMIC ALERT LEVEL TO PHASE 4 OR 5 FROM PHASE 3
RTRS-WHO SPOKESMAN SAYS WORK HAS BEGUN TO PRODUCE A SWINE FLU VACCINE
RTRS-WHO SPOKESMAN SAYS CONFIRMED SWINE FLU CASES — 40 IN US, 26 IN MEXICO, 6 IN CANADA, 1 IN SPAIN
RTRS-WHO SPOKESMAN SAYS FACT EMERGENCY COMMITTEE MEETING ON PANDEMIC ALERT LEVEL BROUGHT FORWARD SHOWS URGENCY.
In case you were wondering what a move from Phase 3 to 4 or 5 means, the World Health Organisation has a produced a neat graphic.
Now, we suspect that equity markets have not quite grasped the seriousness of this situation. For example the World Bank estimated in 2008 that a flu pandemic – ie full-on Level 6 – could cost $3,000bn and result in a near 5 per cent drop in global GDP.
Not exactly what the global economy needs right now.
That said, here’s the storm-in-a-taco alternative view from a long-standing reader:
***QUANGO WITH VESTED INTEREST IN HEALTH SCARES SAYS VERY SCARY
***MARKET SEEN BORED WITH BANKS
***MARKET SEEN NEEDING SOMETHING ELSE TO WORRY ABOUT
***JOURNOS SEE 50,000 WORDS OF EASY COPY ON HEALTH SCARE
Calm down, people – swine flu does not affect livestock – FT Alphaville
Swine flu — more than you ever wanted to know – FT Alphaville
Swine fever panic – in pictures – FT Alphaville
Some perspective for financial markets on the SF panic – FT Alphaville/Long Room