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China works hard to contain coronavirus as focus shifts to US primary elections

Weekly investor research

03 February 2020

Markets were shaken by fears of a disorderly spread of coronavirus across China and into the rest of the World. Large moves in oil prices, US Treasuries and other markets, alongside the bold response from China suggest that anxiety over coronavirus may be close to peaking. Over the coming weeks, the Democratic primary elections in the US will grab some attention and weigh on the US Dollar. In EM, Argentina announced the schedule for debt re-profiling. The Chinese government and private sector worked hard to contain coronavirus. The Indian budget struck a balance between countercyclical spending and fiscal prudence. Ukraine’s Supreme Court delayed indefinitely a ruling on Privatbank’s nationalisation. The new Peruvian parliament sidelined Fujimori. In Brazil, both Congress and the Executive stated the aim of implementing administrative and tax reforms in 2020. The Romanian government faced a no-confidence vote. Lebanon approved the Budget and received signals from financial support from Russia. The Mexican government beat its own 2019 fiscal target in spite of technical recession. Russia issued information on the expected fiscal easing over the next five years.

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