AS Someone so succinctly Put it on twitter 50 handle range is the new 10 handle range
Virus Related Comments causing angst overnight:
• *11:31 HSBC EVACUATES RESEARCH DEPARTMENT, FLOOR HAS BEEN DEEP CLEANED
• *HSBC SAID TO FIND ONE CORONAVIRUS CASE AT LONDON RESEARCH ARM
• HSBC TRADING FLOOR HAS NOT CURRENTLY BEEN EVACUATED
• A cruise ship off the coast of California is on lockdown as a former passenger died from the Virus. A 71-year-old man traveled on the cruise ship in February, Other cruise passengers may have been exposed to him thus the lockdown (Bloomberg)
• -Italian death toll rises to 107 from 79 yday total cases 3089 from 2502 yday
• -@FerdiGiugliano: Italy confirms it closes schools across the country from tomorrow until March 15
• -Italian PM: Italy’s health service risks being overwhelmed by Coronavirus
• -ForexLive: Italy orders sporting events without fans until April
• China saying, they will Quarantine travelers from the U.S. fro 14 days upon arrival
OPEC trying to Convince Russia to sign off on 1.5 mlb barrel a day production cut, it is likely too little too late as Demand destruction is well under way
Apple: Warns retail staff of iPhone replacement shortages (ITC Markets)
As of this Morning at least $50B in new Fiscal Spending is being unleashed from Countries hit by virus .IMF has pledged at least $50 Billion in Stimulus to any countries that need aid.IMF said a more “dire” global economic outlook is possible from Virus.
Rate cuts still priced in for march Even though Feds Bullard tried to talk down possibilities
Chinese stocks Closed higher Spoos and Nasdaq -2.4%, Stoxx 50 -1.5 Dax -1.4% Mib -1.9% Yields begrudgingly moving lower 10s at .94% Bunds only +27 ticks. The New Market Norm plenty of Volatility day to day.