Chile says has recorded first confirmed case of coronavirus - Health Ministry

Ross J Burland FXStreet

News that Chile says has recorded the first confirmed case of coronavirus, according to the Health Ministry, is likely to play on emerging markets and extend the carry unwind in financial markets.

Market implications

The coronavirus spread has encouraged both the Reserve Bank of Australia and Federal Reserve to cut interest rates and is driving investors to exit emerging market investments, fuelling a bid in the euro and sending US 10-year yields to below 1% for the first time in history as investors pile into US government bonds.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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