Welcome to the Real Vision Daily Briefing, where our team of journalists analyze the most important news of the day through the framework of key real vision themes. Whether that's macro, liquidity, market

structure or crypto, we cover it all. Hi, I'm Jack Farley with Real Vision. We have our CEO, Raal Pal standing by with Ash Bennington,

and they're ready to give their macro analysis of what's going on.

But before we go to them, let's quickly go over the latest news and data on the

coronavirus pandemic as well as markets.

It's 330 p.m. Friday, April 10th.

Today the global death toll surpassed 100,000.

Yesterday was the third day in a row that the world saw over 85,000 new cases.

In Europe, we're seeing the five-day moving average of new cases. In Europe we're seeing the five day moving average of new cases leveling off

suggesting that we could be close to a peak. While in the US COVID continues to

spread. 44 states now have more than 500 confirmed cases, and in 11 of these states,

there were over 1,000 new cases just yesterday.

And if New York were a country,

the state would have the sixth highest death count of any country in the world.

But perhaps the most ominous news of the day is a leaked memo from the Department of Homeland

Security that projects a truly nightmarish scenario.

Obtained by the New York Times, this internal document models the damage

if the quarantine in the US were to end immediately.

The models found that a complete end to the shutdown would lead to

around 125 million cases and up to 300,000 deaths. Perhaps more alarmingly, it

found that ending the shelter in place quarantine in 30 days could lead

to as many as 105 million cases.

...