January 28, 2020 Weekly Report

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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

Curve For Post

Rapid Report:

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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

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