Equity Update: Uncertainty, the Enemy of Conviction
The COVID-19 spread outside of China has sparked concerns the outbreak is evolving into a global pandemic, despite the WHO saying it is too early to re-classify. This has triggered a reassessment of downside risks which has seen a wave of selling wash across risky assets.
Equity Update: Sentiment Fades
The stimulus fuelled mania that has driven stocks higher over the past week, with investors ignoring the mounting demand destruction in China, company warnings and threat of supply side shocks, is subsiding into the weekend.