Posted To: MBS Commentary

In many respects, the market response to the coronavirus outbreak has been able to take cues from past experience with SARS in 2002/2003. In many other respects, markets are flying blind due to substantial differences between the past and present. In addition to the fact that coronavirus has already proven far more contagious and deadly than SARS (which is saying something considering it has been met with a more proactive sense of urgency), China's role on the global stage is also much bigger than it was nearly 20 years ago. And beyond all that, how could we forget that US/China trade relations are also a defining feature of global economic uncertainty? All that to say coronavirus matters. It's definitely been the biggest market mover of the past 3 weeks–especially for Chinese equities…(read more)

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Source: Mortgage News Daily