Scott Nuttall, head of global capital and asset management at KKR, had a stark warning for Wall Street analysts during his firm's Q1 earnings call:
We are late cycle.
Nuttall added that this sentiment is why KKR has become a net seller in the U.S. and Europe. The one geographic exception for KKR is Asia, particularly when it comes to corporate carve-outs in Japan.
The novel coronavirus has spread to more nations as South Korea and Italy in particular scramble to deal with spikes in their countries.
The big picture: COVID-19 has killed at least 2,446 people and infected almost 79,000 others, mostly in mainland China. South Korean President Moon Jae-said country would increase its infectious disease alert to red, the highest level possible, the New York Times reports, as the number of cases in the country soared to 556 and the death toll to five. Italy's government announced emergency measures Sunday after infections rose to 79.
Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images
Sen. Bernie Sanders is projected to handily win the Nevada Democratic primary caucus, becoming the clear frontrunner among 2020 Democratic presidential primary election candidates.
Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.
The effects of February's record heat wave on Eagle Island in Antarctica. Photo: NASA
Antarctica's Eagle Island now has a side that's almost ice-free following this month's searing heat wave in the region, images released by NASA show.
Why it maters: "The warm spell caused widespread melting on nearby glaciers," NASA said in its report. It's the third major melt event of the 2019-2020 Southern Hemisphere summer, following warm spells in January and last November, according to the United Nation's World Meteorological Organization (WMO).