The Daily Shot Brief – January 27th, 2020

Greetings,

 

China: The Wuhan coronavirus continues to spread, with quarantines appearing to be much less effective than some had hoped (see story).

Source: The Guardian; Read full article

While China’s markets are closed, stock futures are down over 5% today.

Source: The Daily Shot

And the offshore renminbi dropped sharply as well.

Source: The Daily Shot

 

Eurozone: At the Eurozone level, manufacturing activity appears to be stabilizing as the index of new orders (second chart) approaches 50.

Source: The Daily Shot

 

United Kingdom: The PMI report surprised to the upside. The surprise sent the market-based probability of a rate cut this week lower.

Source: The Daily Shot

 

Emerging Markets: EM stock futures are down sharply on Wuhan virus fears.

Source: The Daily Shot

 

Credit: Credit Suisse expects leveraged loan default rates to surpass high yield bonds.

Source: Credit Suisse

 

Food for Thought: US sources of federal tax revenue:

Source: Deutsche Bank Research

Edited by Daniel Moskovits

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