• Shanghai Comp. played catch up to the global market rout despite supportive measures by Chinese authorities
• Shanghai copper, crude oil and Dalian iron ore futures all hit limit down on pent up selling from the Lunar New Year holiday
• China’s daily briefing confirmed 17205 coronavirus cases and the death toll at 361 as of February 2nd
• UK PM Johnson will set out a hardline stance on post-Brexit trade talks during a major speech today
• OPEC+ joint committee is reportedly to meet on Feb 4th-5th in...

• European bourses are subdued as sentiment slips on further coronavirus contagion
• England's Chief Medical Officer has confirmed two cases of coronavirus in the UK
• High-beta currencies suffer vs. a little changed USD on risk-sentiment while debt has seen a marked recovery
• Looking ahead, highlights include US Core PCE, Employment Costs & Chicago PMI, Canadian GDP
• Earnings: Exxon Mobil, Chevron, Honeywell,...

• Asian equity markets traded mixed as early relief rolled over from the US following a "soft" declaration by the WHO on coronavirus
• WHO declared the coronavirus a Public Health Emergency of International Concern, although did not recommend limiting trade and movement
• China announced that confirmed coronavirus cases increased to 9692 and total deaths to 213
• Chinese PMI data was inconclusive in which Manufacturing PMI printed in-line with...

• European bourses are subdued as risk-off resumes on growing virus concerns
• World Health Organization said evidence of human-to-human transmission outside of China is deeply concerning
• Japanese medical expert said it has been confirmed in China that the coronavirus can be transmitted from people without symptoms
• Ahead of BoE market expectations price in around a 50% chance of a cut vs. analyst consensus of 6-3...

• FOMC stood pat on rates as expected (raised IOER), whilst reiterating that the current policy stance is appropriate
• China reported there are now 7711 total coronavirus cases and death toll at 170, while suspected cases are said to have increased to 12126
• Asian sentiment was downbeat as the overhang from the coronavirus outbreak continued to take its toll across the region
• UK PM Johnson will inform the EU he is prepared to accept post-Brexit border checks instead of Britain being under EU...

• European bourses are rangebound in a mild reprive from coronavirus, as focus turns to earnings/FOMC
• SCMP article suggests that the coronavirus could impact Beijing’s ability to meet US-China Phase 1 trade deal import demands
• World Health Organisation are reportedly to hold a press conference at 14:00GMT on the Coronavirus
• Apple beat on top and bottom lines, and iPhone sales came in above expectations; 2% higher in pre-market
• Looking ahead, highlights include US Trade, Pending Home Sales,...

• Asian equity markets were mostly higher as the region found some reprieve following the rebound on Wall St
• Total number of coronavirus cases in China rose to 5974 and total deaths at 132 as of Jan 28th
• People's Daily reported the coronavirus outbreak may reach its peak in one week or around 10 days
• SCMP suggested that the coronavirus could impact Beijing’s ability to meet US-China Phase 1 trade deal import demands
• Looking ahead, highlights include German GFK Consumer Sentiment, US Trade,...

• Upside in European bourses wanes as coronavirus remains a concern
• World Health Organisation states that they have not seen any onward human-to-human spread of coronavirus by travelers returning from China; aside from one case
• China National Health Commission confirmed 4515 cases of coronavirus and total deaths at 106 as of end-January 27th
• OPEC are reportedly discussing extending oil output cuts until at least June, could deepen output cuts...

• Hefty losses were suffered across Asia-Pac bourses as virus-induced fears caught up to several indices on their return from the extended weekend
• China National Health Commission confirmed 4515 cases of coronavirus and total deaths at 106 as of end-January 27th
• Hong Kong Government instructed all its employees to work from home until next week and will review the measure at the time
• Looking ahead, highlights include US Durables, Case-Shiller, Consumer Confidence, Richmond Fed, UK Announcement on...

• Risk-off remains as coronavirus concerns continue to weigh
• China’s National Health Commission confirmed 2744 cases of coronavirus and death toll at 80 as of the end of January 26th
• China extended the Lunar New Year holiday to February 2nd to contain the coronavirus; unclear if market closures will follow suit
• Italy’s Centre-Left bloc defeated Salvini’s league in Emilia-Romagna, with BTP’s substantially outperforming as such
• FX space is mixed vs. a modestly firmer USD, with safe havens...

• China has stated that the number of people infected with Coronavirus has risen to 2744 with the death toll at 80
• China warned that the coronavirus is getting stronger and the number of cases could increase
• This heavily pressured US equity futures which slipped around 1% in early trade and spurred safe-haven bids for T-notes and gold
• Italy's Centre-Left bloc, led by the Democratic Party are set to defeat Matteo Salvini’s League in the Emilia...

• European bourses are firmer this morning, as sentiment improved overnight as the WHO did not declare an international emergency
• UK Flash PMIs beat expectations, though GBP has slipped post-release; January BoE cut expectations are back to near 50/50
• OPEC+ have reportedly discussed an output cut extension until the end of 2020
• US President Trump will sign the USMCA trade deal at the White House on January 29th
• Looking ahead, highlights include US Flash...

• Asian equity markets traded cautiously but eventually posted mild gains; Mainland China was shut due to Lunar New Year holiday  
• Total number of confirmed coronavirus cases in China was at 830 with the death toll at 25 according to state media  
• World Health Organization did not declare the coronavirus as a Public Health Emergency of International Concern, but the panel was split 50/50 on the decision  
• In FX, DXY traded...

• European bourses are flat/mixed at present, as focus switches to today’s ECB meeting
• French Finance Minister Le Maire says they have reached an agreement with the US regarding the basis for digital tax discussions at next week's OECD
• US is preparing for a longer and more wide-spread campaign to exclude Huawei from 5G cellular networks globally
• Norges Bank left rates unchanged at 1.5% as expected, with AUD outperforming a firmer USD post-AUS...

• Asian equity markets weakened following the indecisive performance on Wall St where stocks finished relatively flat after a pullback from record highs
• China confirmed 571 total cases of the new coronavirus, the number of deaths from the virus was reported at 17
• The EU withdrawal agreement bill concluded its parliamentary stages and has been sent to the Queen, as expected
• Calls for an RBA rate cut next month have been pared back after the latest jobs report showed a firmer than expected employment...

• European bourses are firmer, but off of session highs, as focus turns to Davos programming
• Coronavirus cases have risen to 440 with the death toll now at 9; US President Trump stated the US case is under control
• EU is reportedly preparing to offer the UK a trade deal on tougher terms than its deals with other leading trade partners
• Sterling outperforms on firmer CBI data for January while G10 peers are mostly little changed vs. USD
• Looking ahead, highlights include Canadian CPI, US Existing...

• Asian equity markets gradually improved and shrugged off the lacklustre lead from Wall St, Mainland China underperformed  
• Coronavirus cases have risen to 440 with the death toll now at 9; US Center for Disease Control and Prevention confirmed the first case in the US  
• EU is reportedly preparing to offer the UK a trade deal on tougher terms than its deals with other leading trade partners  
• In FX, DXY traded slightly firmer,...

• European bourses are subdued this morning, in a continuation of APAC trade
• 291 cases of Coronavirus have now been confirmed by China (as of Jan 20th), according to State media
• US Treasury Secretary Mnuchin says, with the Phase One China deal in place the Phase Two deal would not necessarily lead to the removal of all tariffs; could be done sequentially along the way, WSJ
• UK labour market data was firmer than expected, though expectations for a January BoE remain around 60%
• BoJ kept rates and...

• Asian equity markets weakened across the board following a non-existent handover from their peers on Wall St
• China confirmed 224 coronavirus cases so far and a 4th death from the outbreak. WHO called an emergency meeting amid the spread to more cities
• BoJ kept monetary policy settings unchanged as expected with NIRP maintained at -0.1% and 10yr JGB yield target at around 0%, while reaffirming forward guidance
• US President Trump spoke with French President Macron in which they agreed to pursue talks...

MON: PBoC Loan Prime Rate Setting, Japanese Industrial Output, German PPI, Indonesian Central Bank Monetary Policy Decision, Huawei CFO Extradition Hearing begins, Eurogroup Meeting, Martin Luther King Day

TUE: World Economic Forum in Davos Begins (21st-24th January), BoJ Monetary Policy Decision, UK Labour Market Report, German ZEW, Eurozone Economic Sentiment, Canadian Manufacturing Sales

WED: BoC Monetary Policy Decision, Canadian CPI, South African CPI, Japanese...

• Most major Asia-Pac indices began the week higher as the global rally just about remained intact following another record finish last Friday on Wall St
• PBoC kept the Loan Prime Rate unchanged at 4.15% vs. forecasts for a 5bps cut
• UK Chancellor Javid urged UK companies forget about being closely aligned to the EU post-Brexit and adjust to the new reality
• Crude markets supported by supply disruptions in Libya after Libya's National Oil Corp. declared a force majeure
• Looking ahead, highlights...

• European bourses are firmer this morning, continuing the positive tone from APAC hours
• Sterling lags and Gilts lead core debt peers after dismal UK retail sales
• White House officials confirmed they are planning election year stimulus which will focus on tax reductions
• Chinese GDP printed in-line with exp. with IP and retail sales topping estimates
• Looking ahead, highlights include US Building Permits, Housing Starts, Industrial Production, JOLTS, Uni. Of Michigan, Baker Hughes, Fed’s Harker,...

• Asian equity markets traded mostly positive after taking impetus from another record-setting session on Wall St.
• Chinese GDP printed in-line with expectations, whilst both Industrial Production and Retail Sales topped estimates
• China’s Global Times noted comments from an expert who suggested that China could demand that the US roll back all tariffs prior to phase two talks
• DXY was relatively flat and held near the prior day’s highs, while its major counterparts were indecisive
• Looking ahead,...

• European equities are little changed at present, as newsflow has slowed since the Phase One signing
• Chinese VP Liu He says it is unwise to rush into the Phase Two negotiations, stating Beijing has little interest in immediately doing so
• US Senate Majority Leader McConnell said the impeachment trial will begin on Tuesday and the Senate will complete USMCA trade deal today
• USD is slightly softer as antipodeans benefit on the trade deal, other G10 currencies little changed/mixed at...

• Asian equity markets traded mostly higher but with gains capped as the euphoria from the US-China Phase 1 trade deal signing dissipated
• The deal was caveated by China’s commitment to purchase agricultural goods “based on market conditions” and potential for China to exit the deal
• President Trump said he will visit China in the not too distant future to reciprocate for the Phase 1 signing. Work on Phase 2 will begin as soon as this one kicks...