Risk-off dynamics accelerate as Chinese coronavirus worsen
Risk-off sentiment is spreading as investors react to the news from China that the coronavirus is now transmitting human-to-human resurfacing images of SARS from 2003.
FX Update: Limited but clear contagion into FX from corona virus
Markets are digesting the worrisome news that human-to-human transmission has been confirmed in the new corona virus outbreak in China just ahead of the intensive travel season over the Chinese New Year period. As usual, the transmission into FX is fairly muted relative to the gyrations in risky assets, though EM is rather offered as CNY strength has faded sharply.
Macro Dragon: US back in, China Coronavirus, BoJ, US/EU Tech Tues?
Macro Dragon = Daily Cross-Asset Global Views
Today we glance over BoJ wash & potential US/EU Tech Tues. We also check in on the SARs like coronavirus that is hitting China as the Lunar New Year Migration (+3bn trips) is in the works with next wk being Chinese New Years. This has already had an equity price impact on leisure, travel as well as drug making China stocks overnight. Will be interesting to see if we get any US leadership for the bulls, as they get back in post MLK Mon.