Joe Biden finished 4th in Iowa caucus is another reason for Risk on as His Chances to win nomination dwindling
Reason for Risk On and Spike in Spoos and Sell off in Bonds at 2:30 A.M.
CHINESE TV REPORT THAT RESEARCH TEAM AT ZHEJIANG UNIVERSITY HAS FOUND EFFECTIVE DRUG TO TREAT PEOPLE WITH THE NEW CORONAVIRUS.
Chinese authorities said they will cut some fees and taxes to companies contending with the virus, Fiscal stimulus adding to the already Central bank stimulus hard to not buy stocks with all this aid
More Positive Virus news, the rate of Death per Infection continues trending lower and If Chinese stocks are going to go down why the rest of World trade should lower. Asian Bourses closing levels: Shanghai +1.25%, CSi 300 +1.1% Shenzhen +2.48%, Nky +1%, Kospi +.3%
Markets believe the worst is over regarding the virus and the slowdown in global growth has already been priced in, that was a bit quick. Spoos +28 handles +1.5%,Nasdaq 2%,Dow +1.44% Stoxx 50 +1.2% helping the bid in Spoos is the ADP report which a very strong gain in payrolls pf 291K a 5 standard beat. Also fed Funds pricing of a June rate cut continue to move lower they now stand at 42%.Non-manufacturing ISM today at 9:00 is of importance to the economic landscape. Strong ADP=Strong payrolls??
Oil higher following spoos +2.7%, palladium+1.88