South Korea reported first Fatality as verified cases tripled within a day. As news broke South Korea’s benchmark Stock Index Kospi, dropped 1.25% giving the days gains and then some closing lower .67%
Japan’s number of Infected stands at 84 the highest number of cases outside of China, the 634 infected people aboard the quarantined diamond princess Cruise ship docked off her coast are not counted in Japan’s total. Two more deaths were reported this morning. The JPY in the process of scoring biggest two day drop in 3 Years please take notice of this as Virus /economic slowdown worries are taking hold.
Lastly China Once again changing they way it diagnoses infections, further putting in doubt the accuracy of anything coming out of China, obviously a problem,
A bit of Risk off as Worries about the spread of virus unnerving traders so far today. Spoos down 5 handles, Nasdaq -16 handles, Dax and Stoxx 50 down as well. Gold trading higher as real rates dropping providing a reason to be long regardless of stronger dollar. Dollar moving towards 100 handles not so much due to outright dollar strength but more so due to Much weaker JPY and EUR,57% chance of June rate cut keeping the bid in treasury Complex. 30 year yields @1.97% recall 1.90% multi decade low Copper off a bit, Zinc touched multi year lows Brent higher again today +11% last 7 days as hope of production Cuts from OPEC and never-ending stimulus out of China provides a bid. Stronger Dollar not impacting some commodities please take note.
Bloomberg did not help his chances during yesterday’s Debate, a Plus for Sanders and A plus for trump reelection