Highlight of the Week
Dow drops 450 points on Coronavirus fears
- 10-year treasury reaches lowest point since October
Spread of coronavirus has quashed buying sentiment temporarily
Worst day overall for the market since October – and the Dow has now turned negative for the year
Rate Curves
Rapid Report:
Fear of coronavirus sparks global fears
- By late Monday, the virus had killed more than 100 people in China. Nearly 3,000 have been infected – mostly in mainland China, but also in Hong Kong, Japan, Macau, Malaysia, Nepal, Singapore, South Korea, Taiwan, Thailand, and Vietnam – there are also registered cases in Australia, Canada, and the United States
- The emergence of the virus in China where information is tightly controlled left the world short of facts needed to assess dangers in the early stages
- China is responsible for roughly 1/3 of world economic growth
Volcker Rule dialed back
- The rule, created in 2013, bars banks from making risky trades on their own behalf and restricts them from owning hedge funds or private equity funds
- The FDIC has voted to reduce the number of banks subject to the Volcker rule in a controversial 3-1 vote
World mourns loss of Kobe Bryant
Legendary basketball player and his daughter died in tragic helicopter accident Sunday