Risk Off Stocks Lower Bonds higher All eyes on CPI at 7:30

Virus news:
It is always hard to trust the statistics out of China Some thought this time was different but obviously not. Via Mizuho “Is it coincidence the advance team of WHO arrived in China 2 days ago and now we have the data adjustments and firing of officials”
BBC: Hubai has begun using a broader definition to diagnose people for coronavirus, which accounts for most of the rise in total deaths(+242) & increases in those diagnosed with virus(+14840) ; until yesterday’s increase, the number of people diagnosed in Hubei had been stabilising https://bbc.in/31Ohmpb

From Mizuho “Markets moving after Hubei reported 14,840 extra coronavirus cases (vs 2,015 on Feb11) following a change to its method of diagnosis. Change will raise the number of those infected globally by one-quarter to 60,000. Very few people realized Hubei had carved out a special category of “clinically diagnosed” (using CT scans) that was excluded from officially confirmed cases (those verified by PCR test). The idea that the number of cases was slowing down has been washed-out. For now, their has been no revision to prior data. The whole management team of HuBei was replaced today. The mayor of Shanghai now takes over the No.1 position in HuBei. Two top officials of HuBei CDC were also replaced two days ago. The number revisions is probably for the new management team to get a clean start.( (my take on this is that after initial Shock of increased Cases markets go back to looking at when production will start back up across china, This is what will determine strength or weakness in Risk. How long til things get back to Normal? Markets pricing in a quick turnaround for now)

Reuters: CHINA’S HUBEI PROVINCE EXTENDS WORK SUSPENSION, ALL ENTERPRISES NOT TO RESUME WORK BEFORE FEB 20. Very important if manufacturing and global supply chains get disrupted for too long. ◘ Forty-four new cases announced Thursday aboard Carnival Corp.’s Diamond Princess, with 33 of those in their 80s. The good news is the positive hit rate is down to 20% (44 new cases from another 221 new tests). The change was telegraphed yesterday when 15K not fully meeting the definition of confirmed was highlighted. The death jump is new today. ◘ Epidemic Situation of New Crown Pneumonia in Hubei Province on February 12, 2020:

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