Europe has, for the time being, become the focal point of coronavirus contagion. Its epicentre is Italy (Figure 1), which…
Following on from our recent reports on the Wuhan Cornonavirus, the following spreadsheet offers a detailed breakdown of infections, spread and fatalities. This will be updated on an ongoing basis.
China looks to have the Coronavirus (COVID-19) under control. The rate of daily infections has been on a clear downward trend since the start of the month, suggesting the initial measures to quarantine areas were largely effective. As knowledge and understanding improves, it seems highly unlikely this is a temporary lull, even if economic disruptions surrounding the outbreak become more prolonged.
The spike in repo rates (Figure 1) in the US has drawn quite a bit of attention, sparking some concerns that this might be a sign of some kind of systemic risk. But the reality is somewhat more balanced, with the rise reflecting a number of specific factors and probably a rather sluggish response from the NY Fed, which conducts the open market operations of the Federal Reserve system, rather than any deeper seated problems.