Today is the last day of the April to June quarter. Many companies will be reporting in about 45 days.

COVID related measures started in mid-March and started to be lifted about early June. So almost the whole quarter would be affected for a good amount of firms.

Dollar ended March at about mid 135 and will probably end today higher than that.

Will be interesting to see ECL estimations done for bank books (loan books overall).

Will be interesting to see how retailers of non-essential goods/services handled the quarter.

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I think my focus will be primarily on how the Mgmt of these listed companies manage their balance sheet in these times. It should be telling.

Mgmt skill will be on show and poor past business practises will stick out. Think we started to see this last quarter as firms prepared.

I say that because we know some companies are likely to be hit more than others. You can position in those that you expect to outperform and those that will perform poorly and be punished but will recover eventually. For those that trade and buy long term.

Maybe one of the best opportunities to buy dips when the red starts flowing.

For me (someone who hasn& #39;t studied the particulars of IFRS9 and it& #39;s impact on microfinance companies) seeing the results of these MFIs will be interesting. Imo ECL estimates, particular for those with high exposure to the heavy hit industries, should increase so.....