Munich reportedly to tighten limits on gatherings starting from Thursday

Private gatherings will be restricted to no more than 5 persons or two households, including for eating out at restaurants

This is a bit of a big change, as there is currently no limit for private gatherings at home and those meeting in public spaces can only do so in a group of up to 10 persons.

The report also says that masks will be required again but I would assume that means the ruling is going to be reinforced for public spaces with closed rooms i.e. cinemas, theaters and concert halls.

In any case, look out for more restrictions should they come about as that will have an impact on consumer behaviour and consumption activity in general.

As for the immediate impact, it can be clearly seen by risk assets today. Travel stocks are among the biggest hit in European trading today and that exemplifies the fears surrounding the virus situation getting worse in the region over the past few weeks.

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