Morning 1-23

China news:
• China Puts Cities of Wuhan and Huanggang Under Travel Quarantine
Tighter lockdown for Wuhan. Ministry announced: suspension of road and water routes to Wuhan, of inter-provincial and inter-city car-hiring, bus services to Wuhan, strict control of vehicles, ships departing Wuhan, strict checks, control for highways, waterways #China aviation authority calls on airlines to reduce Wuhan flights. Forbids price gouging. Says 566 flights were scheduled to/from Wuhan Jan23 & as of 11:30am, 288 cancelled. Reminds foreign, Hong Kong, Macau, Taiwan airlines with Wuhan flights to adjust (Mizuho)

And Asian Stocks Suffering

Closing levels Shanghai -2.75%,Hong Kong -1.5%,Singapore -.6%,China CSI 300 -3%,Kospi -.9%, remember China Lunar New Year’s Celebration starts tomorrow and lasts For 1 week as result markets will reopen on January 31st.Spoos off a touch but oil and related products down with Asian Stocks due to worries about Demand destruction. Adding Insult to injury yesterday’s API storage data was bearish for oil and products. Cl -1.87%, Brent _1.6% Gasoline -1.65heating oil-1.7% And gasoil -1.3% Nat Gas though +3%

Other Markets Show Copper down for 6th Consecutive day below short term support, trading lower by .8% don’t worry though palladium Futures +2%.Treasury yields lower again Currency Vol is depressed similar to all products these days. Euro Unchanged as we await ECB press conference at 7:30, nothing much expected out of lagarde and Company. U.S. 10 year yields high print this year 1.91% currently trading 1.73% a break of 1.7% could result in a bit of short squeeze in Futures. Grains and Cotton lower due to Demand destruction out of China

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